Carasent — Management Reports 2023

Apr 24, 2023

Update on new focus for Webdoc and cost savings

23-04-24

Too rapid expansion

• Carasent have during a short period of time grown very rapidly
  • Multiple acquisitions
  • Large new development projects
  • Very rapid hiring
• It is difficult to do all these things at once, especially for the first time

We have to focus our efforts –TAM Webdoc

Norway ~350M Healthcare EHR market ~800M Webdoc present possible EHR market with no obvious functional gaps Sweden No functional gap ~500M Region Stockholm & Surgery 24-48 months of development remaining 0-12 months of development (million SEK per year)

• We increase Webdoc's focus on functionality for present and new customers in the present market thus making Webdoc even more attractive
• Webdoc X which from the foundation is made for international expansion continue to be developed for new markets

Cost savings program with aim of yearly savings of NOK 35-40 million

Background	▪ Carasent has concluded that costs have grown too rapidly and that running costs are too high ▪ A group wide cost savings program will therefore be initiated
Financial impact	▪ Total savings is expected to amount to amount to 35-40 MNOK on a yearly basis compared to current run rate, primarily related to capital expenditures
	▪ Savings includes an estimated personnel cost for 32 FTEs (employees and consultants) and other operational expenses
	▪ The total cost of realizing the savings program is estimated to 4 MNOK, and will be booked in Q2 2023
Timeline	▪ The program will be initiated immediately, and most of the savings will be realized by the end of Q2
	▪ All savings will be realized by the end of Q3

Conclusion

• We focus Webdoc on Sweden with new functionality to add new segments. This increase our TAM more than to continue with Webdoc Norway while increasing the likelihood of success
• By focusing our international expansion on Webdoc X we decrease complexity
• Even if the savings are considerable we are still staffed for expansion and new structures will increase efficiency in development
• We will now focus on internal processes, especially within sales which will be supported by the added functionality, and drive focus on present market and increased velocity within development