Lifecare AS acquires majority stake in RemovAid AS

RemovAid AS

BERGEN, NORWAY: Lifecare AS, a pioneering medical sensor company, has announced a significant investment of NOK 2 million in RemovAid AS, securing an 81.1% ownership stake. This strategic move positions Lifecare at the forefront of medical technology innovation, particularly in the Continuous Glucose Monitor (CGM) market.

RemovAid, an Oslo-based medtech firm, has gained attention for its novel device designed for the easy removal of subdermal implants. The device’s user-friendly nature is expected to complement Lifecare’s CGM sensor, which is administered subcutaneously. “RemovAid’s technology is a crucial piece in completing the lifecycle solutions for our glucose sensor,” stated Joacim Holter, CEO of Lifecare. “With some modifications, we believe it can be adapted for the extraction of our Sencell sensor in both humans and animals.”

In 2023, RemovAid initiated sales of its CE-approved removal devices, specifically targeting contraceptive implants. The company boasts ISO 13485 certification and holds a patent for its gentle and efficient removal method. Despite modest sales figures in 2024, Lifecare remains optimistic about the device’s market presence and utility.

Holter emphasized the importance of the device’s market availability and its role in Lifecare’s broader strategy. “Having the product in use is vital for us,” he said. RemovAid’s early commercialization efforts have laid a solid foundation for future growth, with Lifecare planning to leverage the technology for the removal of its sensor technology and to ensure the device’s success in its original market.

As the majority shareholder, Lifecare provides RemovAid with the necessary expertise and capital to thrive as an integral part of the Lifecare Group.

Lifecare AS is at the clinical stage of developing advanced sensor technology for monitoring various body analytes. The company’s primary focus is the next-generation CGM systems, utilizing osmotic pressure as a sensing principle. This is coupled with the manipulation of Nano-granular Tunnelling Resistive sensors (NTR) for precise pressure variation readouts. Known as “Sencell,” Lifecare’s sensor technology is versatile, capable of detecting and monitoring a broad spectrum of analytes and molecules in both humans and pets.

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