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Ortivus Expands Credit Line Agreement with its Majority Owner Ponderus Invest

MAR

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.

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 2024-07-12 14:00 CEST.

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Ortivus Expands Credit Line Agreement with its Majority Owner Ponderus Invest

Datum 2024-07-12, kl 14:00
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Ortivus Expands Credit Line Agreement with its Majority Owner Ponderus Invest
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