Ortivus strengthens its product portfolio, and MobiMed is back in operation in the United Kingdom
Significant events for the period October - December 2023
- The Northern Ireland Ambulance Service chooses to upgrade its MobiMed system with new
hardware. The order value is estimated to 3.1 MSEK. - Ortivus AB and HealthCare Software (HCS) enter into a collaboration through an exclusive distribution agreement covering the United Kingdom and Ireland. This partnership enables Ortivus to offer HCS's "Controlled Drug Management" solution, ensuring secure medication management in prehospital care.
- Ortivus receives certification for MobiMed in accordance with the Medical Device Regulation (MDR), ensuring compliance with the latest European legislation governing medical devices.
- Ortivus' electronic patient record system is restored for British customers affected by the previously reported cyberattack on a subcontractor's data center.
- Gustaf Nordenhök is recruited as CEO to succeed Reidar Gårdebäck, who is leaving the company after nearly 5 years of service. Gustaf Nordenhök assumes the role starting January 2, 2024.
Significant events after end of the period
- Ortivus signs a contract with the ambulance service of Region Sörmland regarding the delivery of MobiMed Monitor for patient monitoring and MobiMed Life, external defibrillators, to all of the region's ambulance vehicles. The order value is estimated to 10.0 MSEK, and the contract duration is 2 years with a possible extension of another 1+1 years.
- The expiry date of the previous credit line from the third quarter was extended to January 31, 2025, in agreement with the company's main shareholder, Ponderus Invest.
October - December 2023
- Net sales amounted to 19.4 (33.4) MSEK.
- The gross margin amounted to 28% (39%).
- The net income after tax amounted to -2.8 (0.2) MSEK.
- Earnings after tax per share before and after dilution amounted to -0.06 (0.00) SEK.
- Operating cash flow before changes in working capital amounted to -1.9 (4.2) MSEK.
January - December 2023
- Net sales amounted to 84.7 (104.5) MSEK.
- The gross margin amounted to 37% (47%).
- The net income after tax amounted to -18.2 (5.9) MSEK.
- Earnings after tax per share before and after dilution amounted to -0.41 (0.13) SEK.
- Operating cash flow before changes in working capital amounted to -13.9 (10.2) MSEK.
- The profit after tax, excluding comparison disturbing items, amounted to -7.4 (5.7) MSEK.
| okt-dec 2023 | okt-dec 2022 | jan-dec 2023 | jan-dec 2022 | |
| Net sales (MSEK) | 19.4 | 33.4 | 84.7 | 104.5 |
| Gross margin (%) | 28% | 39% | 37% | 47% |
| Operating profit (MSEK) | -2.4 | 0.3 | -17.6 | 5.8 |
| Operating margin (%) | -12% | 1% | -21% | 6% |
| EBITDA (MSEK) | -1.2 | 1.1 | -11.9 | 10.2 |
| Adjusted EBITDA, (MSEK) | 5.3 | 1.1 | -5.3 | 10.2 |
Contacts
For further information, please contact
Gustaf Nordenhök, CEO
Telefon +46 8 446 45 00
About Ortivus
Ortivus develops and commercialises MobiMed, e-health and medical technology solutions for a safer and more efficient healthcare. The company was founded in 1985 and is today a leading provider of mobile digital solutions for prehospital care, worldwide. Ortivus' innovations are based on in-depth expertise in cardiology as well as decades of development together with users and customers. The company's headquarters are located in Danderyd, Stockholm. The company has, since 1998, a wholly owned subsidiary based in the United Kingdom and since 2022, a wholly owned subsidiary based in Denmark.
MobiMed is a modular platform that connects and enable real-time information sharing throughout the prehospital care chain. It is currently used by over 12,000 paramedics in over 2,700 emergency vehicles. The platform, MobiMed, consists of several product modules that are completely integrated but can also be used stand-alone. MobiMed comprises four main solutions: MobiMed Monitor, that measures, monitors and shares patients' vital parameters and ECG in real-time, MobiMed ePR, - an electronic patient record for decision support, collection of patient data and clinical documentation, MobiMed enRoute, - a tool for navigation and case management, and MobiMed Life - a range of stand-alone defibrillators.
MobiMed saves vital seconds and enable healthcare professionals make the right decisions in critical situations. MobiMed also contributes to improved quality of care and saved resources.
Ortivus Class A and Class B shares are listed on the NASDAQ Stockholm Small Cap list.
Read more about Ortivus at www.ortivus.com
This information is information that Ortivus is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-16 08:30 CET.
