Ortivus Year-End report 2007

Ortivus Year-End report 2007

• Net sales was MSEK162,4 (199,8).
• Operating loss was MSEK -53,9 (-128,4).
• Write down of intangible assets and restructuring costs affected the operating
profit with MSEK 31,0 (82,0).
• Operating loss excluding write downs and restructuring cost was               
    MSEK-22,9 (-46,4).
• Loss after tax was MSEK -61,3 (-149,2).
• Earnings per share totalled SEK -2,96 (-8,51).

SUMMARY OF 2007
The intensive development efforts for MobiMed and CoroNet that were intiated in
2005 in order to within a short time frame develop internationally competitive
product, were finalized during the first half of 2007. Development expenses for
these products have mainly been capitalized, and have decreased to a normal
level during the second half of 2007. The estimates regarding international
growth has been reassessed from a timing perspective, due to delayed product
launches and certain misjudgments related to the market channel structure.
Strong measures have therefore been taken to decrease cost and revise the market
strategies. 

Several promising projects with both partners and customers were intitiated in
Europe during 2007. A first MobiMed system was sold in Spain, and in Germany, an
important MobiMed reference installation was put into operation. 
CoroNet was selected of yet another University hospital in Sweden, and the
international marketing efforts via partners mainly in Germany and Italy have
been intensified. 

In the beginning of the year, Ortivus received an order in the UK totalling MSEK
14, for ePR (elektronic patient record) within the framework of the NHS
Connecting for Health-project.  A partial delivery worth MSEK 4,7 has been made,
but due to delays of the project it is still too early to estimate when the
different applications can be deployed. Ortivus has fulfilled its commitments,
and is ready to start delivery. 

The German subsidiary has now been stabilized. A number of strategy changes have
been made in order for the company to meet the tough competition by better
leveraging on its position and competence. A new CEO took position after the
summer and initiated further cost reductions. The underlying operating result is
now positive, and the company has a stable platform for long term growth. 

A new software platform has been developed in North America. The platform
enables faster response to changes in customer and market requirements, and is
also a precondition for a potential launch of the North American applications in
Europe. The North American core business shows a stable growth, however
negatively affected by the depreciation of the dollar. 

Future reporting dates
The annual report for fiscal 2007 will be published and available in the Ortivus
office from April 21, 2008.

Interim report for Q1 will be published on May 5, 2008
Interim report for Q2 will be published on August 20, 2008
Interim report for Q3 will be published on November 19, 2008

This interim report has not been reviewed by the company's auditors .

For further innformation:
Akbar Seddigh, chairman, telephone +46-8-446 45 00, or E-mail;
firstname.lastname@ortivus.com
Per Bourn, CFO, telephone +46-8-446 45 00, mobile +46 733-33 99 90, or E-mail;
firstname.lastname@ortivus.com
Also visit www.ortivus.com

This is a translation of Ortivus' year-end report in Swedish. In the event of
any discrepancy between the Swedish and the English versions, the former shall
have precedence. 


Ortivus AB is a Healthcare IT company that offers information and
decision-making support systems for Healthcare, Emergency Services and Public
Safety in Europe and North America. Ortivus AB is listed on the OMX Nordic
Exchange Small Cap list and was established in 1985. Ortivus has approximately
165 employees and subsidiaries in Germany, Great Britain, Canada, and the US.