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DIGNITANA MOVING OPERATIONS TO THE U.S.
Lund, 14 November, 2017 - Dignitana AB, a world leader in medical scalp cooling technology and manufacturer of The DigniCap® Scalp Cooling System, today announced efficiency measures for its Swedish operations.
Today, Dignitana AB's operations in Lund are focused on product development, production, quality and finance, while Dignitana Inc. in the U.S. handles sales, marketing and customer support.
Dignitana AB intends to relocate operations from its head office in Lund, to the company's subsidiary in the U.S. As a result, all Dignitana AB functions will be transferred to Dignitana Inc. The intention is to carry out the transfer of business as soon as negotiations with unions tied to Swedish collective agreements have taken place.
Dignitana will continue to be a publicly listed company on Nasdaq First North in Stockholm, with key functions to enable this.
The consolidation of all corporate activities from Sweden to the US will allow Dignitana to achieve greater efficiencies through a more efficient corporate structure with streamlined operations. Initial transition costs are estimated at SEK 3 million. The company estimates cost savings of approximately SEK 15 million on a yearly basis, starting in the second quarter of 2018, to be fully reflected in mid-year 2018.
William Cronin, CEO of Dignitana Inc., comments:
"Dignitana's sales in the U.S. market have grown significantly for six consecutive quarters, which indicates that we have a very attractive product in DigniCap®. The consolidation of all business activities in the US will allow Dignitana to accelerate our growth and product development efforts to ensure we are able to satisfy the increasing demand for scalp cooling.”
Caren Browning Semmy Rülf
King + Company Chairman of the board, Dignitana AB
00 1 212 561-7464 +46 (0)709-312730
About Dignitana AB (publ)
Dignitana is a Swedish public company based in Lund and manufacturer of the medical cooling device DigniCap®. Dignitana AB is listed on Nasdaq First North Stockholm and has appointed Erik Penser Bank as Certified Adviser. Headquartered in Dallas Texas, Dignitana, Inc. is the U.S. subsidiary of Dignitana AB. For more information visit www.dignitana.se
About The DigniCap® Scalp Cooling System
DigniCap® is a patented scalp cooling system that offers cancer patients the ability to keep their hair during chemotherapy. DigniCap® provides continuous cooling with high efficacy, safety and acceptable patient comfort. www.dignicap.com
This information is information that Dignitana AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, by the above contact, for publication at 8.45 am (CEST), 14 November 2017.