Kinnevik invests USD 12.5 million in Livongo
(Thomson Reuters ONE) -
Kinnevik AB (publ) ("Kinnevik") today announced that it has invested USD 12.5m
as part of a USD 52.5m funding round in Livongo Health Inc. ("Livongo"), a
California based consumer digital healthcare company helping people with
diabetes to live healthier lives. Kinnevik will own 3.5% of Livongo after the
funding round.
The financing was co-led by Kinnevik and existing investor General Catalyst.
Livongo is a digital chronic care management platform that provides diabetes
patients with a personalized, end-to-end service, from measurement of blood
glucose levels to real-time, contextual feedback and access to live coaching by
certified diabetes educators. Diabetes is one of the largest chronic diseases in
the world affecting more than 400 million people. Livongo is helping more than
25,000 patients manage their diabetes and counts almost 15% of Fortune 100
companies amongst its fast growing client base.
Joakim Andersson, Interim CEO of Kinnevik, commented: "Livongo is our second
investment in healthcare, a sector where we see the opportunity for technology-
enabled platforms to deliver better outcomes at more affordable prices. Diabetes
is a large, growing and life-long condition that requires a comprehensive
approach to address patient needs. We have been impressed by Livongo's platform
and their impact on the US diabetes market to date, and are delighted to partner
with the team to build a global leader in chronic care management over the long-
term."
For further information, visit www.kinnevik.com or contact:
Torun Litzén, Director Investor Relations
Phone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83
Kinnevik is an industry focused investment company with an entrepreneurial
spirit at its heart. Our purpose is to build the digital consumer businesses
that provide more and better choice. We do this by working in partnership with
talented founders and management teams to create, invest in and lead fast
growing businesses in developed and emerging markets. We believe in delivering
both shareholder and social value by building well governed companies that
contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck,
Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq
Stockholm's list for large cap companies under the ticker codes KINV A and KINV
B.
Press release:
http://hugin.info/1114/R/2087667/788225.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via GlobeNewswire
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