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 |