Ortivus has decided to expand the existing credit line agreement with the company's majority owner, Ponderus Invest AB.
The new credit line now amounts to a total of 25 MSEK, of which 10 MSEK has already been utilized. Loan amounts within the Credit Line that are or will be utilized carry a fixed annual interest rate of 8%.
"The expanded credit line not only allows us to handle extended decision processes we can see at customers but also enables us to accelerate final deliveries in Estonia and Jönköping, as well as ensure high quality in the Skåne delivery," comments CEO Gustaf Nordenhök.
The national rollout in Estonia is Ortivus' first implementation of MobiMed ePCR (electronic patient care record) in Apple's iOS ecosystem. The delivery covers the entire Estonian ambulance system, with the final delivery planned before the end of 2024.
Ortivus is also actively engaged in legal processes to recover lost revenues and significantly increased costs associated with the criminal cyberattack that happened to our subcontractor that affected customers in the United Kingdom last year.
"The expanded credit line demonstrates strong support from Ponderus Invest AB and provides Ortivus with a stable foundation for continued success and growth, which is important as we see increased interest in our cost-effective solutions," concludes CEO Gustaf Nordenhök.