LONDON (ShareCast) - (Sharecast News) - EKF Diagnostics' former investree, connected health technology company Trellus Health, confirmed its intention to seek admission of its shares to trading on AIM.
The AIM-traded EKF led a $5m strategic investment into Trellus in August last year, in partnership with ISMMS.

On 18 December, EKF distributed its investment in Trellus to EKF shareholders, by way of a dividend in specie of its entire holding of 27,999,999 non-voting Trellus A shares.

Transfer of those shares took place on 18 December to Broadway Nominees, being held in trust for the underlying EKF shareholders, and on admission, all A shares would convert to ordinary shares.

"Trellus Health is pleased to announce that it has received strong indications of demand for the placing of new ordinary shares in the capital of the company, and also confirms the launch of a restricted offer, to be made available for a limited period only to qualifying Trellus Health shareholders," the board of Trellus said in its statement.

Admission was expected to occur on 28 May, Trellis said, with the fundraising expected to raise about £25m.

"The company is commercialising its resilience-driven connected health solution which will leverage expert whole-person care, data science and technology to deliver personalised and more cost-effective care for people living with chronic conditions.

"The company will empower people with chronic conditions, starting with inflammatory bowel diseases, to make sustainable behaviour changes that lead to better health outcomes and lower costs."

Trellus said it would use the 'GRITT' methodology and multidisciplinary care model which had been scientifically validated at the Mount Sinai IBD Center to demonstrate "significant improvements" in patient outcomes and an over 85% reduction in emergency department visits and hospitalisations.

"The company's digital tools and professionally licensed care team will make it easier for people living with chronic conditions to stay healthy by putting them in control of proactively managing their condition, and giving them an engaging personalised experience that is expected to drive high retention, sustained usage, and improved health results that will generate significant cost savings for health plans and employers."

At 1003 BST, shares in EKF Diagnostics Holdings were up 1.22% at 67.41p.

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