Brighter secures Investment from Radi Medical Team

2010-06-14: Today Lasse Tenerz (co-founder of Radi Medical) and Leif Smith (former head of PressureWire R&D at Radi Medical) announced that they are joining Brighter AB´s team as owners and active team members. Brighter AB develops innovative self care solutions for diabetes with the goal of being “the Apple™” (but) for the medtech industry.

Diabetes is a growing problem, WHO calls it an global epidemic and predicts that by 2020 the number of diabetics will exceed 350 million. Poorly managed diabetes can lead to serious complications, such as kidney failure, blindness and amputation. Truls Sjöstedt, CEO of Brighter: “As a husband of a diabetic, I’ve personally seen how today’s solutions fail to meet the needs of patients.”Lasse Tenerz, co-founder and former owner of the medical technology company Radi Medical AB, and Leif Smith, former head of PressureWire R&D at Radi Medical AB announced today that they are investing in Brighter. Besides contributing financially they will also contribute actively in management and product development.Lasse Tenerz commented on his commitment: “Brighter’s innovative and simple-to-use products are going to change how diabetics manage their disease. With adequate resources Brighter will be able to capture and change a growing global market. It is exciting to once again have the chance to join a motivated team that dares to aim big.”Brighter’s first batch of patent applications has entered the national phase in markets covering more than 50% of the world’s population. Worldwide sales for diabetes treatment reached $25 billion in 2009. Key players in the global market include companies such as Novo Nordisk, Eli Lilly, Sanofi-Aventis, LifeScan, Abbott Diagnostics, Roche and Bayer HealthCare.Mr Gert Westergren, recently appointed Chairman at Brighter AB, said: “We are very pleased to have Lasse Tenerz and Leif Smith onboard with their experience in the medical technology industry. We look forward to securing strategic collaborations with important industrial players having strengthened our team and finances.”Truls Sjöstedt, CEO of Brighter, adds: “I’m very glad that Lasse and Leif have joined us and that they share our vision. I´m confident that Brighter will be able to be the Apple™ of the medtech industry.”Brighter AB is a Swedish company that develops and commercializes innovative devices for diabetes self care. Founded in 2007 it has worked closely with patients and medical practitioners to address both clinical needs as well as patients’ needs. Brighter´s team is international and has a strong focus on global markets. For more information, please visit: www.BrighterCompany.comRadi Medical Systems works closely with medical practitioners to develop solutions that address clinical needs, as well as provide clinical education and support. Founded in 1988, Radi Medical Systems employs approximately 380 people globally and has representation in more than 60 countries. In December 2008 Radi Medical System was acquired by St Jude Medical Inc. The company is based in Uppsala, Sweden. For more information, visit www.radi.se.