Company Announcement, Helsinki, 8 February 2023 at 3 PM (EET)
Inside Information: Nexstim Plc’s change negotiations have been completed
Nexstim Plc (NXTMH:HEX, NXTMS:STO) (“Nexstim” or “Company”) announces that its change negotiations have been completed.
The Company announced on January 9, 2023 the start of change negotiations concerning all personnel and all personnel groups in Finland as part of the Nexstim Group global restructuring programme. Nexstim Group was aiming to reach up to EUR 0.6 million annual savings from its global operations in 2023.
The change negotiations have now been completed and as a result, the company is able to restructure into a global process organization, serving its customers in a better and more efficient manner and providing its shareholders with long-term shareholder value growth. As a result of the change negotiations, there will be no layoffs.
The Company estimates that with the savings measures, it will reach approximately EUR 0.6 million in savings in 2023. Implementation of the savings program will begin immediately.
Nexstim Plc
Mikko Karvinen, CEO
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
mikko.karvinen@nexstim.com
The Company’s Certified Advisor is Erik Penser Bank.
About Nexstim Plc
Nexstim is a Finnish, globally operating growth-oriented medical technology company. Our mission is to enable personalized and effective diagnostics and therapies for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology for navigated transcranial magnetic stimulation (nTMS) with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
Nexstim’s Diagnostics Business focuses on commercialization of the Navigated Brain Stimulation (NBS) system. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain.
Nexstim’s Therapy Business markets and sells the Navigated Brain Therapy (NBT®) system, which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBT® system is CE marked for the treatment of major depression and chronic neuropathic pain.
Nexstim shares are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.
For more information, please visit www.nexstim.com
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