Ortivus is extending its existing credit facility agreement with the company’s main shareholder, Ponderus Invest AB.
The credit facility amounts to 25 MSEK, all of which is currently utilized. The loan amount drawn under the facility carries a fixed annual interest rate of 8%.
Ortivus is in an exciting phase, with several customer projects nearing completion. Among other things, Ortivus is implementing its first installation of MobiMed ePCR (electronic patient care record) in Apple’s iOS ecosystem.
The Group is also close to finalizing processes related to the cyberattack that affected one of its UK-based subcontractors in the summer of 2023. The cyberattack has significantly impacted the Group’s revenues, while also leading to substantial one-off costs. The Group had previously initiated costly processes to obtain compensation for this through insurance and/or damages.
In light of the above, the Board has reached an agreement with the company’s main shareholder, Ponderus Invest, to extend the existing credit facility agreement with Ponderus until 31 December 2025.