Carasent

Regulatory Filings • Nov 21, 2023

Carasent group signs contract to supply Metodika EPM to Volvat Medisinske Senter AS

Volvat Medisinske Senter AS and Metodika AB have entered into an agreement to implement the EHR system Metodika EPM at Volvat's hospitals and clinics in Norway. The annual revenue from the contract is estimated to 7-9 MNOK, where the majority is recurring revenue ("ARR").

Volvat Medisinske Senter AS has performed an extensive procurement process with the objective to find the most suitable EHR for a complex business such as Volvat's, one of the largest private healthcare providers in Norway with 27 centres across the country. This procurement process has now concluded in a decision to implement Metodika EPM across Volvat's business. In total 5 different EHR systems currently used by Volvat will be replaced by Metodika EPM.

The yearly value of the contract after the implementation process is estimated to 7-9 MNOK where the majority is ARR. The remaining expected revenue is related to implementation, adaptations and consultancy work. The work on implementation will start immediately and it is expected that the first centres will start using Metodika EPM by the second half of 2024. The ARR will be generated once the system is in production, until then implementation work is expected to have a slight negative effect on Metodika's margins.

Carasent CEO Daniel Öhman comments:

The agreement with Volvat strengthens Metodika's position as a leading supplier to private hospitals and clinics in the Nordics, with a breadth of functionality in the system that is unmatched in the market. Carasent sees good potential to continue to expand Metodika's presence within this segment.

Volvat CEO Per Helge Fagermoen comments:

We are pleased to sign an agreement with Metodika after a long and thorough procurement process. The agreement aims to achieve the "one Volvat" strategy, where we look at implementing our vision and strategy across the group. We look forward to work with Metodika in this process.

About Metodika:

Metodika's EPM system is used by more than 100 private hospitals and clinics across 10 countries in northern Europe. The system is designed for administrative efficiency and clinical quality and can be adapted to each clients and markets unique needs. It covers all aspects of the patient journey with the caregiver.

About Volvat:

Volvat is Norway's first private hospital and has over 30 years of experience in offering patients various health services and reducing health queues. The Volvat Group is one of the country's leading private health trusts and is present for patients all over the country with 27 centres located across Norway.

The centres have a wide range of medical services ranging from health-promoting and preventive work to treatment and rehabilitation.

Volvat is owned by Ramsay Health, which also operates large hospitals and medical centres in Norway, Sweden, Denmark, Germany, France, the United Kingdom, Italy, Malaysia, Singapore, Indonesia and Australia.

For further details please contact:

Daniel Öhman, CEO Tel: +46 70-855 37 07, or Svein Martin Bjørnstad, CFO Tel: +47 979 69 493