Extra general meeting of the shareholders of Ortivus AB authorizes the Board of Directors to acquire American Sweet Comp

Extra general meeting of the shareholders of Ortivus AB authorizes the Board of Directors to acquire American Sweet Computer Services, Inc. Wednesday's extra general meeting of the shareholders of Ortivus AB (publ), listed on the O-list of the OM Stockholm Stock Exchange, authorized the Board of Directors to issue new shares to be used in payment for the American company, Sweet Computer Services, Inc. (SCS). SCS is a market leader in the United States in administrative programs for ambulance health care. Together with Ortivus' clinical systems, a complete product program for ambulance health care can be launched in the United States. The acquisition also adds an established sales and service organization that has delivered systems to and has service contracts with 1,700 customers all across the United States. These customers are included in the target group for Ortivus' Mobimed system. The total purchase price amounts to SEK 40 million. Description of Sweet Computer Services SCS has been active in the American market for emergency health care for more than 20 years and today has about 60 employees. Sales for the period January to July 2000 amounted to USD 2.4 million. Sales in 1999 reached USD 3.8 million and the gross margin on sales was 90 percent. The company reported positive earnings for 1999. SCS's customers are ambulance operators and those who order ambulance services. SCS is clearly a leader in billing systems, with a market share of 15 percent based on sales directly to end users. The computerized alarm system newly introduced in the United States by SCS constitutes a good complement to the billing system. The company's patient data system has been very well received by the customers and makes an important complement, allowing the company to offer its customers a complete administrative solution. Ortivus and Sweet Computer Services SCS and Ortivus are active in the same customer segment and the companies' products complement each other. The acquisition means that Ortivus will be in a position to deliver complete information systems to the American emergency health care providers, systems that handle clinical data about the patient's health status, as well as administrative routines around the patient. With billing, alarm and patient data systems added to Mobimed's clinical functions, a product can now be developed that offers a complete set of necessary information systems for the ambulance. While the need for Mobimed's pioneering system of clinical communication becomes ever more apparent in American health care, the need for SCS's three systems is already well established. SCS thus prepares the way for an introduction of the Mobimed system on the American market. The resolution of the extra general meeting The extra general meeting of shareholders October 11, authorized the Board of Directors, for a period ending at the time of the next following regularly scheduled Annual General Meeting, to decide on issuing up to 1,200,000 new Class B shares aimed at the shareholders of the American company, Sweet Computer Services, Inc. The Board of Directors has the right to decide that payment, in full or in part, be made in the form of transferring shares in Sweet Computer Services, Inc. ./. For further information, contact: Claes Stenlander, President and CEO, tel. +46-8-446 45 00 or +46-70-663 39 81, or Akbar Seddigh, President, Ortivus US, Inc., Executive Vice Chairman, Ortivus AB, tel. +46-08-446 45 00 See also www.ortivus.com and www.sweetcs.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/13/20001013BIT00520/bit0001.doc http://www.bit.se/bitonline/2000/10/13/20001013BIT00520/bit0002.pdf

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.

Subscribe