Bergen, Norway, 26 June 2026 – Lifecare ASA ("Lifecare") provides the following update regarding the wind-down of its wholly owned subsidiary, Lifecare Germany GmbH (i.L.).
Reference is made to Lifecare's announcement of 26 March 2026 regarding the strategic decision to discontinue the operations of Lifecare Germany GmbH as part of the Group's operational restructuring and the centralization of manufacturing and development activities to Bergen, Norway, and Bristol, United Kingdom.
The operational restructuring has been implemented in accordance with the Company's previously communicated plan.
Since that announcement, the Company has completed the operational transition from Germany. Manufacturing activities, personnel, equipment, know-how and key development activities have been transferred or are in the process of being transferred in accordance with the Group's restructuring plan.
During the ongoing liquidation process, management has continued to assess the remaining obligations and financial position of Lifecare Germany GmbH. Following this assessment, and in accordance with applicable German legislation and the directors' statutory duties, management has concluded that the liquidation process should be continued through formal insolvency proceedings. Consequently, a filing has been submitted to the competent German court today.
The continued proceedings will not have any material negative impact on Lifecare's financial position, ongoing operations, product development activities, regulatory programmes, manufacturing strategy or previously communicated outlook. The operational restructuring announced in March 2026 has already been substantially implemented, and all operating activities are now conducted in Norway and the UK and no additional funding will be provided by Lifecare ASA to Lifecare Germany GmbH (i.L).
Lifecare will in the continuation fully cooperate with relevant authorities and any appointed administrator and will provide further updates if required.