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Ortivus has secured a 10 MSEK credit line agreement with its principal owner

MAR

To strengthen its liquidity position, Ortivus has entered into a credit line agreement with its principal owner, Ponderus Invest AB.

The credit line agreement totals 10 MSEK, comprising 5 MSEK in previously provided bridging loans and an additional 5 MSEK in new credit space. Loans under this agreement have a fixed annual interest rate of 8%. Both the credit line and outstanding loans are due for repayment on August 30, 2024, with the option for the company to extend the loan period until December 30, 2024. 

The credit line agreement aims to strengthen Ortivus' liquidity, which was negatively impacted by the criminal cyber-attack in July 2023. Additionally, the agreement is intended to cover costs for short-term ongoing deliveries. 

As previously communicated, the cyberattack targeted one of Ortivus' subcontractors and affected some of the company's customers in the UK. A legal process is underway to recover lost revenue and accrued costs. 

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 2024-06-05 19:00 CEST.

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Ortivus has secured a 10 MSEK credit line agreement with its principal owner

Datum 2024-06-05, kl 19:00
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Ortivus has secured a 10 MSEK credit line agreement with its principal owner