13/02-2019 17:00:04: (NAVA) Navamedic acquires Novicus Pharma

Reference is made to the stock exchange announcement made by Navamedic ASA (the
"Company" or "Navamedic") on 21 December 2018 concerning the process of a
potential acquisition of Novicus Pharma AS ("Novicus Pharma" or "Novicus").

Navamedic has today entered into a Share Purchase Agreement to acquire 100% of
the shares in Novicus Pharma. The acquisition will strengthen Navamedic's
executive team, product pipeline and network in the pharma industry.

As part of the proposed transaction, the three founders of Novicus Pharma have
agreed to become key members of the Navamedic management team incl Kathrine
Gamborg Andreassen as CEO of Navamedic, Ole Henrik Eriksen as COO and Astrid T
Bratvedt as Vice President of R&D.

Navamedic has a strong marketing and distribution platform to hospitals and
pharmacies in the Nordic and Baltic region as well as an innovative Medtech
division.
"The two companies complement each other very well. Together they will be a
unique platform for further growth", says Kathrine Gamborg Andreassen

"Navamedic has a solid foothold in pharmacy and health care industry in the
Nordic region, while Novicus Pharma has in a short time established a pipeline
of unique products targeting specific consumer needs in the same region. We
believe that current trends in the population, specifically related to lifestyle
diseases and other common ailments, represents significant growth opportunities
for the combined company" Andreassen explains.

Terje Bakken, Chairman of Navamedic concludes;

"Our ambition is to complement the strong platform of Navamedic with the new
opportunities from Novicus Pharma to create a new Nordic pharmaceutical entity
with multiple growth opportunities. We see great opportunities within the
current Pharma & Healthcare division and we're very pleased to have Novicus
onboard to enhance and execute the growth plan going forward. The transaction is
done on fully aligned incentives with all parties encouraged for a positive
journey going forward"

Transaction details

Novicus will be acquired from companies owned by the founders of Novicus as
named above. The agreed consideration for 100% of the shares in Novicus is 11.67
MNOK, which will be settled on closing of the transaction by issuance of
1,000,000 new shares in Navamedic to the sellers (the "Consideration Shares").
The Consideration Shares will be issued by the Company's board of directors
pursuant to a board authorization granted by the Company's 2018 annual general
meeting to increase the share capital in the Company in connection with, inter
alia, strategic acquisitions with settlement in new shares in Navamedic. The
Consideration Shares will be subject to a lock up period of 24 months from
closing, under which the sellers of Novicus cannot sell, pledge or otherwise
transfer the Consideration Shares.

The transaction is expected to close during the course of next week.

For further information:

Toril Ås, CFO, Navamedic
Email: toril.as@navamedic.com
Telephone: +47 957 01 071