Semi-Annual Report for the period January - June 2000 for Ortivus AB (publ)

Semi-Annual Report for the period January - June 2000 for Ortivus AB (publ) Summary * Ortivus has agreed with Agilent Technologies to conclude two agreements. One agreement constitutes an extension of the current agreement for distribution of the MIDA technology. The other agreement involves expanded industrial cooperation between the companies. Both agreements have a term of five years. The agreements contain provisions for minimum compensation that gives Ortivus higher revenue as early as next year compared to the current agreement. * Ortivus' subsidiary Biosys AB has agreed on development cooperation with TRW, Inc. This means that TRW will finance parts of the continued development of the Biodrow slumber warning system. * Ortivus has received the largest order in Sweden to date for telemedical systems for monitoring of patients in ambulances. In addition, Ortivus has received 8 commercial orders for Mobimed in Sweden, Norway and Finland. That brings the total order backlog in Scandinavia to systems for 81 ambulances and 11 hospitals. In addition hereto, there are declarations of intent for purchase of systems for another 17 ambulances. * In the United Kingdom, Ortivus UK has received two commercial orders of Mobimed for a total of 15 ambulances and 2 hospitals. Discussions are currently in progress with a large number of ambulance organizations, which are expected to generate additional orders during the fall, and revenue during year 2001. * Net revenues amounted to MSEK 32.0 (49.1). * The result of the Ortivus Group amounted to MSEK -13.4 (13.0). The result before amortization of goodwill was MSEK -9.4 (13.0). Financial Report Sales and Result The Company's revenue amounted to MSEK 32.0 (49.1). This revenue includes sales to Agilent Technologies (Hewlett-Packard) of MSEK 24.4 (44.2) and proprietary sales of MSEK 7.6 (4.9). The result after taxes was MSEK -13.4 (13.0). The decrease in revenue from Agilent Technologies is due to the fact that the minimum guarantee was lower during the period than during the first six months of last year. The revenue for proprietary sales does not include the bulk of this year's orders. This revenue will come in during the second half of year 2000. Most of the negative result is explained by costs in connection with the acquisition of Biosys AB and initiatives to build up subsidiaries in the United Kingdom and the United States. The result is burdened by amortization of goodwill (MSEK 4.0) attributable to the acquisition of Biosys. Market MIDA Agilent Technologies increased their orders of the MIDA system during the period. The value of these orders is still less than the minimum guarantee, however. Sales of the MIDA system are expected to increase in coming years with the launch of the next generation systems during 2001. Market Mobimed Order bookings were strong during the period. In Sweden, Mobimed was installed in 16 ambulances and at one hospital. Complements have also been made to previously placed orders. Region Skåne has decided to buy Mobimed for 53 ambulances and 5 hospitals. Installation will take place this coming fall. Kalmar Landsting has decided to buy Mobimed for 10 ambulances and 1 hospital. The health care administration in Västmanland has decided to complement existing equipment with an additional two systems. The Municipality of Gotland has decided to buy Mobimed for 4 ambulances and 1 hospital. The health care administration of Uppsala County has decided to purchase additional equipment for 1 ambulance and 1 hospital. The health care administration of Örebro County has decided to complement existing equipment with 1 system. Procurement activities are currently in progress at 4 county health care administrations, 2 of which are major procurements. Ortivus' distributor in Norway has received orders for Mobimed for 8 ambulances and 3 hospitals. One major procurement is in progress. In Finland, orders for Mobimed for 2 ambulances have been received and several procurements are under way. In the United Kingdom, Ortivus UK has received 2 commercial orders for Mobimed for 15 ambulances and 2 hospitals. Ortivus UK is also taking part in several procurements, which is expected to result in more orders during the second half of the year and during next year. Mobimed was installed in 12 ambulances and 5 hospitals during the period. In the United States, Mobimed is being tested at several major hospitals. Ortivus US is investing in building strong support for the Mobimed system among leading specialists, which is expected to contribute to sales of Mobimed in coming years. Sales of Mobimed is expected to increase substantially in coming years as a result of now ongoing initiatives in building marketing strength for the Mobimed system via subsidiaries, and current and future distributors. Experience from reference installations in the United Kingdom, the United States, Norway and Finland is highly positive and Mobimed is attracting much interest at medical technical trade shows and exhibitions. ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: The full report The full report

About Us

Ortivus is a leading supplier of mobile solutions for modern emergency medical care. With nearly 30 years’ experience of cardiology and of developing mobile monitoring and communication solutions, we can offer our customers reliable, patient-friendly and cost-effective decision support systems that save lives and reduce suffering. Ortivus is a listed company on NASDAQ OMX and was founded in 1985. It is based in Danderyd, Sweden. Ortivus has 26 employees in Sweden and Great Britain. More than 1 300 ambulances and 500 hospital beds are equipped with Ortivus solutions.