23.12.2024 18:35:17
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Xlife Sciences AG Announces Potential Acquisition of Portfolio Company FUSE-AI GmbH by Pineapple Power Corporation PLC at an Expected Valuation of EUR 80-90 million
Xlife Sciences AG / Key word(s): IPO Zurich, 23rd of December 2024: Xlife Sciences AG (SIX: XLS) is pleased to announce that its portfolio company, FUSE-AI GmbH, is engaged in discussions regarding a potential acquisition by Pineapple Power Corporation PLC, a UK-based company listed on the London Stock Exchange. The proposed transaction would represent a significant milestone in FUSE-AI GmbH’s journey to expand its innovative AI-powered solutions for the clinical sector. The acquisition would include all shares of FUSE-AI GmbH, with the consideration to be provided in the form of shares issued by Pineapple Power Corporation PLC. This transaction, if finalized, would constitute a reverse takeover under the UK Listing Rules, paving the way for FUSE-AI GmbH to access global capital markets and further expand its operations. The proposed transaction is expected to value FUSE-AI GmbH at EUR 80-90 million, reflecting its strong market potential and technological leadership in the field of medical AI. Pineapple Power Corporation PLC intends to acquire 100% of the issued share capital of FUSE-AI GmbH, with Xlife Sciences AG, as the largest shareholder with a 42.25% stake, set to significantly benefit from this milestone transaction. This valuation and stake highlight the strategic importance of FUSE-AI GmbH within Xlife Sciences AG’s portfolio and the broader healthcare innovation landscape. Matthias Steffens, CEO of FUSE-AI GmbH, stated: «This development highlights the strong position of FUSE-AI GmbH in delivering cutting-edge AI solutions for clinical diagnostics. We are excited about the opportunities this collaboration can bring in reaching new markets and driving innovation.» Oliver R. Baumann, CEO of Xlife Sciences AG, commented: «The potential acquisition of FUSE-AI GmbH by Pineapple Power Corporation PLC underscores the strength of Xlife Sciences AG’s approach to fostering groundbreaking technologies and providing them with strategic paths to growth and scalability. This transaction exemplifies our commitment to bridging the gap between research and commercialization.» FUSE-AI GmbH is recognized for its innovative solution, «Prostate.Carcinoma.ai», which significantly enhances the efficiency and accuracy of prostate MRI analysis. With additional applications under development and an established distribution network in over 42 countries, FUSE-AI GmbH is well-positioned for continued growth in the field of medical AI. Further details about the proposed acquisition and transaction timeline will be shared as they become available.
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Kontakt Xlife Sciences AG, End of Inside Information |
Language: | English |
Company: | Xlife Sciences AG |
Talacker 35 | |
8001 Zürich | |
Switzerland | |
Phone: | +41 44 385 84 60 |
E-mail: | info@xlifesciences.ch |
Internet: | www.xlifesciences.ch |
ISIN: | CH0461929603 |
Valor: | A2PK6Z |
Listed: | SIX Swiss Exchange |
EQS News ID: | 2057105 |
End of Announcement | EQS News Service |
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2057105 23-Dec-2024 CET/CEST
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