OSLO, Norway, March 13, 2024 /PRNewswire/ -- Navamedic (OSE: NAVA) is pleased to welcome new shareholders and delighted to see existing shareholders acquire a bigger stake following Ingerø Reiten Investment Company's (IRIC) sale of its entire 17.1 percent interest in the company.

"IRIC has been an active owner in Navamedic since December 2018 when it became our largest shareholder. During this period, we have transformed the company into a profitable business with an attractive product portfolio, well positioned for future growth. We have appreciated the cooperation and good support from IRIC," said Kathrine Gamborg Andreassen, CEO of Navamedic ASA.

Since 2019, Navamedic has almost tripled its turnover, reaching NOK 512 million in 2023, and turned loss into profit. The company has built a diversified and strong product portfolio through acquisitions and long-term distribution agreements. Navamedic has proven its ability to develop new market opportunities within the specialty pharma, hospital, and consumer health areas. The recent acquisitions of Impolin AB and Sensidose AB have lifted the company into a new era having own products with global potential.

"Our strategy has proven successful over the years, and the management team and employees are keen to see profitable growth continue, both for the company and to the benefit of our shareholders," Gamborg Andreassen concluded.

Management and leading employees together hold 16.7 per cent of the company's shares and as a group represents the company's largest shareholder.

For further information, please contact:

Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78 680
E-mail: kathrine@navamedic.com

Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62 842
E-mail: lars.hjarrand@navamedic.com

About Navamedic

Navamedic ASA is a full-service provider of high-quality healthcare products to hospitals and pharmacies. Navamedic meets the specific medical needs of patients and consumers by leveraging its highly scalable market access platform, leading category competence and local knowledge. Navamedic is present in all the Nordic countries, the Baltics and Benelux, with sales representation in the UK and Greece. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA). For more information, please visit Navamedic.com.

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