Interim report January-September 2009

FOCUS ON GROWTH • Net sales for the quarter amounted to MSEK 20.3 (23.7) and for the period January – September to MSEK 69.5 (59.5). • Operating loss for the quarter amounted to MSEK -5.4 (-1.5) and for the period January – September to MSEK -15.6 (-17.3). Operating loss excluding write-down and structural reserves for the period January – September amounted to MSEK -13.2 (-17.2). • Loss after tax for the quarter amounted to MSEK -5.2 (-4.1) and for the period January – September to MSEK -14.9 (-20.8). • Cash flow for the quarter amounted to MSEK -3.4 (-4.6) and the equity ratio as at 30 September was 56% (62%). • Loss per share during the quarter before and after dilution amounted to SEK -0.25 (-0.20) and for the period January - September to SEK -0.72 (-1.01). • During the first six months, Ortivus closed two large and important deals – during the first quarter in Sweden, Västra Götaland region selected MobiMed for its ambulance organization, a deal involving 110 ambulances, and in the US, the City of Phoenix chose Ortivus’ system for invoicing, Sweet-Billing, during the second quarter. • During the third quarter two important new CoroNet deals were closed; one with the Hospital in Falun and one with the hospital in Helsingborg CEO’s statement FOCUS ON GROWTH The net sales for the group increased with 17% during the first three quarters. Excluding impairments and structural reservations the operating result during the same period improved with 23%. Still there is expectancy on increasing sales and results for the future. During the third quarter Ortivus won, in strong competition, two strategic deals with CoroNet. First the hospital in Helsingborg decided to install CoroNet in their Coronary Care, PCI and Emergency units. Secondly the hospital in Falun decided to install Coronet within their operations. This means that Ortivus maintains its leading position on the Swedish market as a provider of robust clinical monitoring and telemetry solutions. On top of this a number of less comprehensive MobiMed deals were closed during the period. In UK existing customers have increased their number of ambulances and as part of that equipped them with MobiMed in order to shorten the time from alert to treatment of critically ill heart patients. The US operations is still performing good and according to plan despite the present harsh market situation. The work to create a long-lasting sustainable business model continues. We now see additional customers signing up on service- and maintenance agreements and thereby investing in Ortivus future software development. The work with improving functionality and securing extended clinical usability in MobiMed runs continuously. The upcoming package of the software, version 3.1, will for instance include improved functionality of the integrated electronic patient record, web-interface in the ambulance unit and snap-shots of 12-lead real-time ECG. As communicated previously Ortivus have decided on an action programme with the aim to create a sounder financial position, and as a consequence a quicker positive cash-flow. The programme is expected to lower the costs with an amount corresponding to 10 MSEK on a yearly basis, primarily through cost reductions in Sweden. The action programme is running according to plan and will reach its full effect from 2010. Still we continue to see delays in procurement- and decision processes due to the present state of the market. In this situation the management continues to focus on sales and establishment of international sales channels, in parallel to keeping a close watch on costs. Due to this we see ourselves well positioned for 2010. Jan B Andersson CEO 12 november 2009