I am extremely proud that two health systems listed in the 2020-2021 US News & World Report Best Hospital rankings, chose to develop an enterprise imaging strategy by implementing a Sectra solution.
Our customers need to be able to process sensitive information beyond the walls of their offices. This spring, it was very clear that society's critical organizations need tools and infrastructure to efficiently work remotely so that they can perform their everyday work tasks even in a crisis. They need a VPN that is even more secure compared to what is normally used today, and Sectra’s mobile VPN at layer 4 of the OSI model fills an important function here.
Recent customer satisfaction surveys conducted in the US established that Sectra has performed well during the pandemic, further increasing the already-high levels of customer satisfaction. This shows that our corporate culture is strong and that we have fantastic employees. With satisfied customers, a strong balance sheet, a positive cash position and significant recurring revenue, we are relatively well equipped to manage the high level of uncertainty in the world.
he security policy situation has worsened in recent years, and foreign powers are working actively on recording and collecting data concerning sensitive operations. Sweden’s capacity for secure communication is therefore of crucial importance, and this order confirms that we are playing an important role in its maintenance and further development.
I’m excited to join Sectra and to contribute to the culture of collaboration, innovation and customer success that Sectra has fostered for over 30 years in the medical imaging industry.
I am pleased to welcome Nader to Sectra. His background and knowledge will be a great asset to our Canadian customers who ranked us #1 in KLAS for customer satisfaction in 2020. I would like to thank Kjetil for his successful tenure and strong leadership of the Canadian organization.
It is vital for us to be able to communicate securely. The Tiger system offered by Sectra is a proven and reliable solution in use by our organization for several years. It supports us in sharing information in a secure and efficient manner.
I welcome Michigan Medicine as a Sectra customer. Our experience with academic medical centers and successful track record with large-scale deployments and deep EMR integration makes for a perfect fit between the two organizations. I look forward to a collaborative relationship between our respective teams.
Moving to Sectra’s VNA will be a big win. We will be able to administer, store and make available millions of images, of different types and from different disciplines, from hospitals across our region, all in a single place without the burden of having to manage infrastructure.
Linking with other regions is an important next step. Our strategy is to improve our visualization of the whole patient pathway within SWASH and beyond. Using a standard for cross-community sharing will help us to better connect with other regional consortia. That will be a game changer – to not just see local imaging, but to understand imaging has occurred for patients who move across borders and services, and to be able to access that imaging myself as a clinician, without needing to ask someone else who might not be in the office at the time.
This creates a wealth of data for purposes such as AI. Data for training algorithms needs to be appropriate and validated – and we won’t simply be throwing data at AI, but by having collective data source as a consortia, we can use our size to help with the validation and governance around using AI. And we anticipate that Sectra will provide multiple inputs from smaller AI suppliers, that will make it much easier for NHS trusts within a consortia to utilize them.
SWASH is one of our longest standing partners, and we are proud to continue to provide the tools to advance their imaging strategies that are ultimately focussed on delivering better patient outcomes. Work here is genuinely world class as a demonstrative example of exceptional regional collaboration in diagnostics.
It was important for us to choose a solution that has a track record of high system availability and has been proven to work for full-scale primary diagnostics handling large volumes and incorporating AI innovations.
Sectra’s solution will optimize our workflows through state-of-the-art clinical tools and AI innovations. It will support us in delivering the best possible cancer care, and expand the services we provide to clinicians and patients.
I’m delighted to welcome CHRISTUS Health as a customer. Sectra is providing a solution that will standardize image management, viewing and archiving while allowing for systematic high availability – including planned updates and upgrades.
When our customers in the healthcare sector become more efficient in their daily work and can thus provide care for more people, or when society’s vulnerability decreases through the use of our data security solutions, then we have also succeeded. I am particularly proud of our employees. It is because of them and the fantastic work they have done that we have such a high level of customer satisfaction.
As Mayo Clinic continues to lead the transformation of health care delivery and accessibility, the laboratories and pathology practice play an essential role. This system implementation will elevate our pathology practice by enabling digital collaboration among pathologists throughout the Mayo Clinic system and, ultimately, Mayo Clinic Laboratories clients around the world. In the near future, our pathologists will be able to virtually collaborate with colleagues anywhere to provide answers to the most complex pathology cases in order to help our partners deliver the best patient care.
We are confident the Sectra digital pathology solution will positively impact patient care by improving access and availability of our patients’ pathology material in a digital form, and facilitating enterprise-wide collaboration and integration of innovative technologies. Our pathologists and allied staff are looking forward to the opportunities that digital pathology will bring in transforming our practice by improving operational efficiency.
We look forward to working with Mayo Clinic as we understand the critical need of delivering a solution that will allow pathologists to easily review cases, collaborate, and make primary diagnoses, regardless of their geographic location, all in the best interests of patient care.
Sectra’s solution fits our enterprise imaging strategy, as it can be expanded to include other specialties over time. Its high system availability, integrated reporting functionality and AI workflow integrations were also important criteria in our selection of an imaging vendor. It will give our specialists a fast overview of all analyses, especially those based on imaging diagnostics, from all our medical disciplines and thus improve patient treatment.
When our customers in the healthcare sector become more efficient in their daily work and can thus provide care for more people, or when society’s vulnerability decreases through the use of our data security solutions, then we have also succeeded. It is deeply satisfying that our long-term efforts in creating real value for customers, patients and society at large have enabled us to report the best earnings year in Sectra’s history.
A numberSeveral of our projects are extensive, which leads to broad fluctuations between quarters since a significant portion of earnings is recognized in conjunction with services going online and project deliveries. Accordingly, it is important to look more at trends than at the output for an individual quarter when assessing our development. In the coming fiscal year We we expect a weaker first quarter than normal in the coming fiscal year and a sharp focus on deploying our services to customers during the second half of the year, particularly during the spring months. This is due in part to natural seasonal variations, when many customers want to come online before the relatively calm summer period, but also to delays in projects and orders because of COVID-19. Over the long term, our new subscription model for software licenses will enable more balance between quarters, but it is believed this will not have a major effect over the next few years.
Our stable development and positive underlying cash flows and profitability give me every reason to remain optimistic. We have a number of exciting projects in the pipeline and as well as completely new geographic markets that could eventually become significant. Our possibilities for growth are strong in all operating areas for the foreseeable future, even if COVID-19 will likely mean temporarily dampened demand in certain markets. With our work and investments in the field, and innovation that has the potential to increase customer value, we are creating value for our customers and are thus helping to make society healthier and safer. This customer value is the foundation of our success, and also determines how we successfully create shareholder value and returns for our owners.
We are honored to see Sanford Health add cardiology into their Sectra solution. We look forward to a continued close partnership as Sanford takes this next step in realizing their enterprise imaging strategy.
It was important for us to select a vendor with extensive solution replacement experience and a track record of high system availability and customer satisfaction. With Sectra, we’ll gain a partner and a solution that will enable us to achieve increased productivity and support future growth.
I’m delighted to welcome Mayfair Diagnostics to our growing customer community in Canada. We are hopeful that our consistently high system uptimes and intuitive workflows will realize efficiencies and support Mayfair in their future growth.
Communication is pivotal for an operation in times of crisis. If information is unreliable, it is impossible to lead the operation.
We welcome St. Elizabeth Healthcare to Sectra and look forward to working together in the years to come. Our ability to offer a complete integrated solution with all needed functionality on one platform, created excellent synergies between our organizations.
The pathology team at HSS was thrilled to partner with Sectra on this initiative to integrate pathology and radiology diagnostics. We believe this advancement will enhance the care we provide our surgical patients, which is what we strive for every day.
We are excited to see the benefits HSS will experience by incorporating digital pathology into their workflow. The ability for radiologists, pathologists, and surgeons to easily access both the radiology and pathology images should be a game-changer for patient care, especially in complex cancer cases.
I’m excited that with the FDA approval, we are now able to offer US healthcare providers a digital pathology offering with a proven track-record of use for full-scale primary diagnostics and large volumes. Our solution makes it possible for pathologists across the country to continue their important work from home without the need for a microscope. We look forward to providing uninterrupted pathology reading in these challenging times. This approval is an exciting and important step forward for pathology and cancer care in the US.
Pathology is the next huge digitization of healthcare. The use of glass slides limits growth in today’s increasingly digital environment, especially in consolidated health care systems where potential synergies cannot be reached unless pathology is digitized. Our solution opens up new opportunities in the US where we can point to our successes in Europe in large production centers.
We welcome MetroHealth to Sectra. Our expertise and experience with teaching hospitals and our ability to easily add cardiology and pathology modules to the enterprise imaging system in the future, were great synergies between our organizations.
It is a relief for us to be able to use the Education Portal given the situation that we now find ourselves in with the spread of COVID-19. The cloud service provides us with the ability to access the clinical cases we use in our teaching, and students are able to continue their studies remotely now that all schools and universities are closed.
Having a common service for the radiology departments in the region simplifies our everyday operations and enables more efficient diagnostics. Sectra’s experience in delivering similar services was important for us when choosing a vendor.
This partnership is an important component in enabling our customers to easily start using AI technology without the need to procure and integrate themselves.
We are growing with satisfied customers, the only sustainable way to attract new customers and retain existing ones. The Imaging IT Solutions operating area reported the greatest increase in sales, but Business Innovation and Secure Communications grew as well. At the same time, new customers entailed major costs during the installation phase, which had a negative impact on Sectra’s finances in the first half of 2019/2020. Major installation projects lead to fluctuations between individual quarters, since a large portion of earnings are reported when installation go live. Installations for several new healthcare customers during the third quarter resulted in increased revenue, pushing the earnings trend in the right direction. As a result, we met our three financial goals.
When our customers successfully improve their quality of care and become more efficient in their daily work, or increase their cybersecurity with the help of our solutions, then we succeed as well. With a long-term approach based on creating value for customers, patients and society as a whole, we were able to report our strongest third quarter performance to date.
The digital pathology solution from Sectra is easy to use. Its robustness is crucial since we use it for primary diagnostics and handle large volumes. The digital advantages and the possibilities for integrated diagnostics will enable us to meet future demands and continue to provide the best possible care for our patients.
We have high-production radiology departments where system availability and efficient workflows are crucial to deliver the quality of care that our patients demand. With Sectra’s solution, we achieve that. Consolidating the four existing solutions will further support efficient collaboration within the consortium, and we are looking forward to continuing to develop our radiology and enterprise imaging together with Sectra.
It is very rewarding to have long-time radiology customers, such as Hillcrest, grow their enterprise imaging platform with Sectra. As we increase our market presence in cardiology, we look to our existing users who appreciate our extraordinary customer service and support.
When our customers improve their quality of healthcare and become more efficient by using our solution, we have succeeded. Happy users are the ultimate proof of customer satisfaction and it’s an honor to be acknowledged for it.
Sectra listens. They frequently touch base. Their product is probably the best that we have seen. Our users are highly satisfied. And Sectra is very easy to work with.
Sectra’s service is fantastic. They are proactive. Their communication is excellent. The system is extremely user friendly. The interface is very easy to use and is very intuitive. Very little training is needed for new users.
When moving to full-scale digital pathology for primary diagnostics, it’s vital to select a solution that is stable, fast and allows integration with the scanners and LIS of our choice. Sectra’s digital pathology solution meets all these criteria. We already use Sectra’s solution for radiology and know that they are a great vendor to work with.
I am delighted to welcome BJC HealthCare into the Sectra family. The Sectra solution was designed to provide a standardized conduit for sharing, reading, and storing images within large delivery networks. I am hopeful BJC will recognize operational and clinical efficiencies in the near term as a result of providing a common system for all of its providers.
It was important for us to select a solution that will enable us to meet demands both today and in the future, and we are excited to have Sectra as our radiology imaging vendor.
With Sectra’s solution, we will get a fast radiology imaging solution, which will allow us to increase efficiency and thus contribute to enhanced patient outcomes.
Our customers will need quantum-safe technology and we are at the forefront in this new field. According to the NLNCSA, very few products offer any form of protection against such attacks despite the evident threat posed by quantum computers.
I am very pleased to welcome Marshfield Clinic as a customer. Sectra’s solution is designed for health systems with geographically dispersed locations like Marshfield. The images will follow the patients and the physicians will have easy access to them, regardless of their physical location.