PMD Device Solutions (PMDS) today announces the successful completion of the sale of the Coala Life Monitor assets to Magnus Sörlander, the device’s inventor and founder. This transaction marks the culmination of a strategic agreement established in May 2024.
Under the original agreement, Coala Solutions secured the rights to sell the Coala Life Monitor in the European market for a license fee of 2 MSEK. The agreement also included an option for Sörlander to acquire the intellectual property and related assets associated with the device. This option has now been exercised, completing the transaction for 1.6 MSEK, with an additional 54,000 SEK paid in royalties during the licensing period.
Myles Murray, CEO of PMD Device Solutions, commented: “Completing this sale is an important step that enables a visionary like Magnus Sörlander to further develop the Coala Life Monitor and expand the technology into new markets. We look forward to following its progress and supporting Magnus and Coala Solutions in their efforts. At the same time, PMDS retains ownership of our remote patient monitoring platform and our US operations, allowing us to continue focusing on delivering innovative solutions to healthcare providers globally. We are also open to the opportunity of reselling the Coala Life Monitor as part of our comprehensive remote monitoring offering.”
The Coala Life Monitor is a groundbreaking device for remote cardiac health monitoring, which has significantly impacted the improvement of patient care. This sale allows Coala Solutions to explore new growth opportunities for the technology, while PMDS deepens its focus on leadership in digital healthcare, particularly in the remote monitoring of patients with chronic respiratory conditions.
This strategic shift strengthens the potential for driving innovation and improving patient care, both locally and globally.
