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Nordic Capital to sell Sunrise Medical, one of the globally leading providers of assistive mobility solutions

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Focus on innovation, operational excellence and platform investments has expanded Sunrise Medical’s position as one of the leading companies in the field of assistive mobility solutions especially in complex rehabilitationDuring Nordic Capital’s ownership, Sunrise Medical has successfully strengthened its global footprint with direct presence in 23 countriesSunrise Medical has delivered robust organic growth over the past years based on strategic focus and new product launches 

MALSCH, Germany, June 5, 2024 /PRNewswire/ — Nordic Capital, a leading sector-specialised private equity investor, has entered into an agreement to sell Sunrise Medical, a global leader in assistive mobility solutions, to global investment firm Platinum Equity. Under Nordic Capital’s ownership, Sunrise Medical strongly developed its presence in the field of complex rehabilitation where products are often tailor-made to the specific requirements of individual mobility-impaired customers with chronic needs. This marks the culmination of a great partnership, the start of an exciting next phase for Sunrise Medical and a successful outcome for Nordic Capital.

Sunrise Medical is one of the leading companies in complex rehabilitation with a broad portfolio of products across complex and standard rehabilitation supported by a strong global footprint. The Company is active in the development, design, manufacturing, and distribution of assistive mobility products and solutions such as manual and power wheelchairs, power assist products, pediatric and geriatric therapeutic devices, mobility scooters, seating and positioning systems as well as daily living aids and other home medical equipment. Sunrise Medical’s long-term success in the market is driven by continuous innovation and the company employs over 110 associates focused on research & development (R&D) and engineering as well as operates eleven R&D sites in six countries. Following Nordic Capital’s acquisition in 2015, revenue have almost doubled from EUR 364 mn to EUR 636 mn in FY 2022/23 with improved profitability. The number of employees increased from 2,000 to more than 2,800 worldwide today.

By leveraging Nordic Capital’s sector expertise, commercial excellence, and experience from supporting companies on international growth journeys, Sunrise Medical has successfully strengthened its global footprint and has today a direct presence in 23 countries. The company’s products are sold in over 130 countries to an extensive network of healthcare dealers, government agencies and public institutions. In close partnership with the management team, Nordic Capital has focused on operational excellence and platform investments, with a vision to position the company as one of the global leaders in a highly regulated and advanced sector. Sunrise Medical has also incorporated ESG measures at the core of its organisational framework, business strategy, and M&A agenda. The company has specifically focused on enhancing its social contributions, bolstering its environmental commitments, and strengthening its quality management. Together, Sunrise Medical’s management team and Nordic Capital have achieved this vision.  

“For more than 40 years we have been following our mission of improving people’s lives. Nordic Capital’s deep sector expertise, focus on operational excellence, and experience in how to advance global expansion, have been instrumental in the growth of Sunrise Medical. Based on our strong global footprint and proven strengths in providing our customers with high quality products and services, coupled with continuous innovation, we are ideally positioned to capture further growth opportunities. and look forward to our next chapter,” said Thomas Babacan, President and CEO of Sunrise Medical.

“We take immense pride of Sunrise Medical’s growth trajectory as it has taken the position as a global frontrunner in the field of complex rehabilitation. Working closely with the management team, Nordic Capital has supported the company to strengthen its global footprint and to drive continuous innovation to offer high quality mobility products and services. We are excited for Sunrise Medical to take the next step in its development as it persistently challenges the limits of innovation and leads the industry’s sustainable transformation,” said Fredrik Näslund, Partner, Nordic Capital Advisors.

“Sunrise Medical is a great example of how Nordic Capital helps companies to grow and develop their business. We see a lot of potential in the DACH region and look forward to supporting more management teams to build strong, sustainable companies that are well equipped for future challenges,” said Rainer Lenhard, Partner and Head of DACH, Nordic Capital Advisors.

Nordic Capital has assets under management of EUR 31 bn and invests in selected sectors and companies in Northern Europe and North America, offering partnership, deep sector knowledge, capital and experience to drive sustainable growth. It is one of the most active investors in healthcare globally, focusing on investing in companies within Pharma, Healthtech, Medtech & Life Sciences and Healthcare Services. To date, Nordic Capital has made 38 healthcare platform investments and has in total deployed EUR 10.8 bn of equity capital in the sector.

It has been agreed that the terms of the transaction shall not be disclosed. Completion of the transaction is expected in Q3 2024 and is subject to customary regulatory approvals.

Media contacts:

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
katarina.janerud@nordiccapital.com

Sunrise Medical
press@sunmed.com 

About Nordic Capital

Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 25 billion in 145 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com
“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”

About Sunrise Medical
Committed to improving people’s lives, Sunrise Medical is a global leader in the development, design, manufacturing, and distribution of innovative, high-quality assistive mobility devices and services. Distributed in more than 130 countries under its own 18 proprietary brands, the key products include manual and power wheelchairs, power assist products, pediatric and geriatric therapeutic devices, mobility scooters, daily living aids and more. Operating in 23 countries, Sunrise Medical Group is headquartered in Malsch, Germany and employs over 2,800 associates worldwide. For further information, please visit: https://sunrisemedical-group.com/

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/nordic-capital/r/nordic-capital-to-sell-sunrise-medical–one-of-the-globally-leading-providers-of-assistive-mobility-,c3995129

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SOURCE Nordic Capital

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Federal Court Issues Preliminary Injunction Against OpenAI, Sam Altman, and Sir Jony Ive; iyO Alleges Trade Secret Theft by Altman’s Hardware Chief

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SAN FRANCISCO, April 27, 2026 /PRNewswire/ — On Thursday, April 23, 2026, the U.S. District Court for the Northern District of California granted iyO Inc. a preliminary injunction against OpenAI, Sam Altman, Sir Jony Ive, and io Products. The ruling, where the Court found that iyO was likely to succeed on the merits of its trademark claim, officially bars the defendants from using the “io” name for their hardware while iyO’s federal lawsuit proceeds.

Federal court bars OpenAI, Sam Altman, and Jony Ive from using ‘io’ name as iyO alleges trade secret theft.

Amended Complaint: Trade Secret Theft and Corporate Espionage
The ruling caps a year of escalating legal action. On March 13, 2026, iyO amended its federal complaint to include trade secret theft claims against the defendants and Tang Yew Tan — former Apple VP of Product Design, co-founder of io Products, and current Chief Hardware Officer at OpenAI.

The amended complaint outlines a highly coordinated timeline of alleged misappropriation:

May 2024: Just 11 days after iyO’s viral TED talk was published, Tan pre-ordered the iyO One. Nine days later, he contacted iyO’s Design and Manufacturing Lead, Dan Sargent, to schedule a dinner meeting for early June.

June 2024: Forensic analysis of Sargent’s company laptop revealed that in the days leading up to the dinner with Tan, Sargent downloaded 33 highly secret files, accessed dormant intellectual property folders, and exported 17 CAD files into cross-platform formats unused by iyO. These files were renamed with obfuscated strings (e.g., “grgrgege.x_t”) and exported outside of business hours. Sargent has since admitted to bringing iyO prototypes to show Tan.

May 2025: Barely 11 months after the dinner, OpenAI announced a $6.5 billion acquisition of io Products, a company built on what iyO alleges is its proprietary technology.

Following the acquisition announcement, iyO CEO Jason Rugolo confronted OpenAI CEO Sam Altman, who refused to cease use of the “io” name and threatened to sue Rugolo for using iyO’s own federally registered trademark.

Statement from iyO Leadership
“Sam, Jony, and Tang investigated us,” said Jason Rugolo, founder and CEO of iyO. “Then targeted us opportunistically, trying to eliminate us with a fancy $6.5 billion press release during our fundraise using a copy of our name. This week, a federal judge said: not so fast.”

iyO’s lawsuit asserts nine causes of action, including trade secret misappropriation, trademark infringement, intentional interference, and unfair competition. The company is seeking injunctive relief, compensatory and exemplary damages, disgorgement of profits, and a constructive trust over any portion of the $6.5 billion acquisition value attributable to the alleged stolen intellectual property and brand infringement.

ABOUT IYO
iyO began its mission inside Google X in 2018 to make natural language computing as commonplace as cellular phones. Spinning out as an independent venture-backed startup in 2021, iyO developed the iyO One, the iyO yO, and the recently announced iyO Wand, which are revolutionary screenless computer form factors that allow users to interact with AI and the internet through voice alone. iyO is headquartered in Redwood City, CA.

WEBSITE
www.iyo.ai 

IYO INC.
2606 SPRING STREET
REDWOOD CITY, CA 94063
UNITED STATES

ALL RIGHTS RESERVED
©2026 IYO INC.

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SOURCE iyO, Inc.

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Pudu Robotics Inaugurates U.S. Headquarters in Dallas, Accelerating Long-Term Growth in the Americas

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DALLAS, April 27, 2026 /PRNewswire/ — Pudu Robotics, a global leader in commercial service robotics, officially opened a new U.S. headquarters in Dallas, Texas, on April 23 as part of its global strategic expansion. The new facility is set to enhance Pudu’s regional capabilities and underscores the company’s long-term commitment to the Americas, marking a new phase of scaled, structured business development.

Dallas Unlocks Greater Efficiency and Regional Coordination

As a central hub for nationwide and cross regional operations across the Americas, Dallas brings strong strategic advantages. The area offers well-developed logistics and supply chain infrastructure, a business friendly environment, and access to a broad base of enterprise customers. Its central location will allow Pudu more efficient coverage across both North America and South America. As Pudu transitions into a phase of rapid, scalable growth in the Americas, its new centralized headquarters, which is located in Richardson’s Sherman Tech Center and combines a modern office space, product showroom, and on site warehousing, will enhance support management, operations, and long term regional coordination.

Meanwhile, as part of its broader infrastructure optimization, the company has also transitioned its Santa Clara office into a streamlined logistics support function outpost and established a dual warehouse system on both coasts to support nationwide delivery in the U.S.

Pudu in the Americas – A Growing Footprint Across Diverse Industries

Since entering the U.S. market in 2018, Pudu has steadily expanded its footprint across the Americas to a point of deep, localized operations. To date, nearly 15,000 Pudu robots have been deployed across the Americas, driving regional revenue growth of 285% year over year, bringing the company to a phase of large scale commercialization.

This rapid adoption is fueled by Pudu’s comprehensive product matrix, which addresses the specific labor and efficiency needs of the American market across four core categories:

Service Delivery: Led by the industry-favorite BellaBot and the newly enhanced BellaBot Pro, which have become the gold standard for hospitality and retail interaction.Commercial Cleaning: Featuring the best-selling PUDU CC1 series, the PUDU MT1 series designed for large-scale dry cleaning, and the recently launched PUDU BG1 series—an AI-native large scrubber-dryer robot built for heavy-duty environments.Industrial Delivery: The PUDU T-series robots provide versatile logistics support with payload capacities ranging from 150kg to 600kg, streamlining warehouse and factory workflows.General embodied AI: Represented by the advanced PUDU D5 series, pushing the boundaries of how robots interact with and adapt to complex human environments.

Partnerships with local distributors have also accelerated, achieving 63.6% YoY growth, with a rapidly expanding client base across diverse industries, including food and beverage, healthcare, industrial logistics and warehousing, real estate and property services, retail, and entertainment, sports and more. The company’s robots have enjoyed strong adoption by global industry leaders, including Walmart, Accenture, NASA, Norwegian Cruise Line, Honeywell, top automotive brands, and others.

This growth is matched by organizational development. Since entering the U.S. market in 2018, a initial team has flourished into a multi functional organization of professionals, with localized sales, after sales service, solutions, and marketing capabilities that enable stronger customer support and execution.

Building a Global Future Based on a Strategy of Localization

Looking ahead, Pudu will continue expanding its presence across key sectors including retail, logistics, food service, healthcare, and commercial cleaning, while bringing its service delivery, commercial cleaning, industrial delivery, and general embodied AI robotics solutions into broader industry scenarios.

“We are building for the long-term in the Americas with a localized approach,” said Raymond Pan, General Manager of the Americas at Pudu Robotics. “Our ambition over the next five years is to serve one million people across the U.S . Our new headquarters and infrastructure optimization provide a foundation for this ambition, alongside continuing investment in localized products, enhancing our local supply chain, and strengthening our partner ecosystem.”

Pudu has established itself as a global leader in service robotics, with more than 120,000 units shipped worldwide, operations spanning over 80 countries and regions, and 23% market share in commercial service robotics—ranking No. 1 globally per Frost & Sullivan’s “Market Research on Global Commercial Service Robotics (2023)”. Going forward, Pudu will accelerate its development and localization efforts across the Americas, while, at the same time, continuing to scale its presence in other key international markets as part of its global expansion strategy.

About Pudu Robotics

Pudu Robotics, a global leader in the commercial service robotics, committed to establishing a global intelligent robotics infrastructure that will serve 10 billion people worldwide.

Pudu Robotics has achieved full-stack proprietary R&D in core technologies, including navigation algorithms, multi-robot scheduling, swarm control, motion controllers, and integrated joint modules. Built on three core technologies—Embodied Navigation, Embodied Manipulation, and Embodied Interaction—Pudu Robotics has pioneered an “One Brain, Multiple Embodiments” architecture, establishing a comprehensive product portfolio that includes specialized, semi-humanoid, and humanoid robots.

Currently, Pudu offers four major product lines: service delivery, commercial cleaning, industrial delivery and general embodied AI. Its solutions are widely deployed across industries such as retail, hospitality, manufacturing, real estate and property services, healthcare, entertainment and sport, education, and public services.

To date, Pudu Robotics has shipped over 120,000 units globally, with a presence in more than 80 countries and regions.

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KuCoin Hosts HEXAGON BLOCK PARTY at Hong Kong Web3 Festival, Headlined by DJ Don Diablo and Rooted in Shared Values of Community and Connection

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Headlined by internationally renowned DJ Don Diablo, the event brought together guests from the Web3 and fintech communities for an immersive evening experience.

PROVIDENCIALES, Turks and Caicos Islands, April 27, 2026 /PRNewswire/ — KuCoin, a leading global crypto platform built on trust, and the exclusive Crypto Exchange and Payments Partner for Tomorrowland Winter and Tomorrowland Belgium (2026-2028), brought the spirit of global electronic music culture to Asia with the HEXAGON BLOCK PARTY in Hong Kong on April 22, which it co-hosted with Finoverse.

Headlined by internationally renowned DJ Don Diablo, the event welcomed guests from across the Web3, fintech, and broader innovation communities, creating an immersive gathering shaped by shared energy, conversation, and in-person connection. Building on KuCoin’s recent Tomorrowland Winter activation, which highlighted a shared belief that trust can be strengthened through community, creativity, and cultural experience, the event carried that momentum forward in Hong Kong through a similar spirit of openness, energy, and human connection. 

Held in the heart of Hong Kong, HEXAGON BLOCK PARTY was designed as more than an evening celebration. By combining world-class music with a culturally driven atmosphere, the event offered a welcoming space for founders, builders, creators, and community participants to come together in a more human and experience-led setting. It reflected a shared belief that meaningful community is built not only through ideas and technology, but also through moments of creativity, openness, and collective experience.

The event aimed to create a cultural touchpoint in Hong Kong that resonated beyond the venue itself. The event served as a space where ideas, creativity, and communities could converge, bringing together guests across Web3, fintech, and digital culture through a shared experience rooted in openness, energy, and connection.

As the global partnership between KuCoin and Tomorrowland continues, the journey moves forward to Tomorrowland Belgium in July 2026, where KuCoin will once again collaborate with Tomorrowland to create new experiences at the intersection of music, culture, and Web3, further expanding the role of digital assets in real-world cultural moments.

About KuCoin

Founded in 2017, KuCoin is a leading global crypto platform built on trust and security, serving over 40 million users across 200+ countries and regions. Known for its reliability and user-first approach, the platform combines advanced technology, deep liquidity, and strong security safeguards to deliver a seamless trading experience. KuCoin provides access to 1,500+ digital assets through a broad product suite and remains committed to building transparent, compliant, and user-centric digital asset infrastructure for the future of finance, backed by SOC 2 Type II, ISO/IEC 27001:2022, and ISO/IEC 27701:2019 Certifications. In recent years, we have built a strong global compliance foundation, marked by key milestones including AUSTRAC registration in Australia, a MiCA license in Europe, and regulatory progress in other markets. 

Learn more at www.kucoin.com.

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SOURCE KuCoin

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