Ortivus continues to deliver solutions to improve the future of healthcare.
Significant events for the period January - March 2024
- Ortivus signs a contract with Region Sörmland for the delivery of MobiMed Monitor for patient monitoring and MobiMed Life, external defibrillators, to all of the region's ambulance vehicles. The value of the delivery is estimated to be 10.0 MSEK, and the contract duration is two years with the possibility of annual extension for an additional two years.
- The earlier credit line from the third quarter amounting to 8.0 MSEK has had its maturity date extended to 2025-01-31, following an agreement with the company's main owner, Ponderus Invest.
- Ortivus is awarded a contract for the delivery of MobiMed ePR to Region Norrbotten. The contract duration is five years with the possibility of annual extension for an additional five years. The estimated order value is 6.0 MSEK for the initial period, with an additional 4.5 MSEK upon contract extension.
- Magnus Mårtensson resigns from his position as Ortivus Product Manager as well as from the management team.
Significant events after end of the period
- Jörgen Petersen resigns from his position as Ortivus Service and Support Manager as well as from the management team.
- Viveka Hiort af Ornäs resigns from her position as Ortivus Chief Financial Officer as well as from the management team.
- A contract is signed between Ortivus and the company's main owner, Ponderus Invest, regarding a bridge loan of 5.0 MSEK. The background for the loan is to strengthen the company's liquidity situation, which has been significantly impacted by a previous cyberattack.
January - March 2024
- Net sales amounted to 22.1 (28.0) MSEK.
- The gross margin amounted to 41% (48%).
- The net income after tax amounted to -2.2 (0.5) MSEK.
- Earnings after tax per share before and after dilution amounted to -0.05 (0.01) SEK.
- Operating cash flow before changes in working capital amounted to -0.6 (1.5) MSEK.
| Jan-Mar 2024 | Jan-Mar 2023 | Jan-Dec 2023 | |
| Net sales (MSEK) | 22.1 | 28.0 | 84.7 |
| Gross margin (%) | 41% | 48% | 37% |
| Operating profit (MSEK) | -2.0 | 0.5 | -17.6 |
| Operating margin (%) | -9% | 2% | -21% |
| EBITDA (MSEK) | -1.0 | 1.5 | -11.9 |
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 2024-05-08 08:30 CEST.
