18th Feb 2026 07:00
The following announcement is being made pursuant to the requirements of RuleS 19.6(B) and 19.6(C) of the City Code on Takeovers and Mergers (the "Code").
FOR IMMEDIATE RELEASE
18 February 2026
SURGICAL SCIENCE SWEDEN AB
Rule 19.6(b) update and Rule 19.6(c) confirmation with respect to the stated post-offer intentions made with regard to Intelligent Ultrasound Group plc
Surgical Science Sweden AB ("Surgical Science" or the "Company"), announces that further to the completion of its recommended acquisition of the entire issued and to be issued ordinary share capital of Intelligent Ultrasound Group plc ("Intelligent Ultrasound"), which was effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 on 18 February 2025 (the "Acquisition"), its board of directors has duly confirmed in writing to The Panel on Takeovers and Mergers, in accordance with the requirements of Rule 19.6(c) of the Code, that, save as detailed below, the Company has complied with its post-offer statements of intent made pursuant to Rules 2.7(c)(viii) and 24.2 of the Code, as originally detailed in its announcement made under Rule 2.7 of the Code published on 19 December 2024 and the scheme document published on 15 January 2025 (the "Scheme Document").
The Scheme Document stated that Surgical Science intended to, inter alia, retain Intelligent Ultrasound's Chief Executive Officer, Stuart Gall in a new senior role within the Combined Group. However, Mr Gall voluntarily resigned with effect from 30 November 2025 to pursue another opportunity. In addition, the Scheme Document stated that, based on a total headcount of 48 employees at that time, there would be an expected reduction in total headcount within Intelligent Ultrasound's operations of between 10-20% subject to the Company's Post Completion Review. At the completion of the acquisition, Intelligent Ultrasound had 50 employees. Since completion of the acquisition of Intelligent Ultrasound, Surgical Science has in fact made a total of 11 redundancies, which equates to approximately 22.9% of the 48 employees referred to in the Scheme Document.
Enquiries:
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Surgical Science Sweden AB |
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Tom Englund, CEO | +46 70 916 16 81 |
Anna Ahlberg, CFO | +46 70 855 38 35 |
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Strand Hanson Limited (Financial Adviser to Surgical Science) | +44 (0) 207 409 3494 |
James Dance / Christopher Raggett | |
Matthew Chandler / Rob Patrick |
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Disclaimers
This announcement does not constitute any advice or recommendation with respect to such securities or other financial instruments.
Strand Hanson Limited ("Strand Hanson"), which is authorised and regulated in the United Kingdom by the FCA, is acting as financial adviser to Surgical Science and no one else in connection with the Acquisition and will not regard any other person as its client in relation to the Acquisition and will not be responsible to anyone other than Surgical Science for providing the protections afforded to clients of Strand Hanson, nor for providing advice in relation to any matter referred to in this announcement. Neither Strand Hanson nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Strand Hanson in connection with the matters referred to in this announcement, any statement contained herein or otherwise.
Related Shares:
Surgical Scienc