Navamedic ASA (OSE:NAVA), a Nordic pharma company and provider of high-quality products to hospitals and pharmacies, announced on Wednesday that it has submitted a cash offer to acquire all shares in Sensidose AB for approximately SEK75m.

The Offer is recommended by the independent bid committee of Sensidose. The Sensidose shares are currently listed on Spotlight Stock Market in Sweden.

Sensidose is a Sweden-based pharmaceutical company that sells drugs in combination with an innovative device for individual dosing, targeting patients with advanced Parkinson's disease.

Sensidose has conducted sales in Sweden since the end of 2016 and in Norway and Denmark since 2018. The company's products have received market approval in eight additional countries and has initiated dialogues for geographic expansion. Currently, approximately 270 patients are being treated with Sensidose's medicine, and total revenues in 2022 amounted to SEK7.9m.

'This potential transaction is an excellent example of Navamedic's proactive approach to M&A. It also represents an opportunity for Navamedic to broaden its product portfolio and to support patients suffering from medical conditions, such as Parkinson's. We are confident that the potential addition of Sensidose's products will significantly strengthen our overall product offering and quickly become value generating upon launch,' said Kathrine Gamborg Andreassen, Navamedic CEO.

(EUR1=SEK11.30)