Investment and innovation - for a modern health care
Carasent is an investment management company with a special focus on businesses that develop entrepreneurial and e-health solutions.
We believe in innovation that offers a new kind of accessibility and availability for patients and practises, and offer intellectual and financial capital for participants that wishes to provide high quality services.
In the spring of 2018 Apptix ASA, now Carasent, acquired Evimeria EMR AB, a swedish company that deliver web based solutions and electronic medical records (EMRs). An important goal with the investment was to create new possibilities for our businesses.
Our strategies and assets makes it possible for the companies to grow and establish new and increased market presence.
At the extraordinary general meeting of the board on January 14, Anna Kinberg Batra was elected as new member of the board of Carasent ASA
– Carasent has shown impressive growth and ability to deliver products and services in a market segment that is going through big changes. I look forward to contributing to this development by using my combined experience from both politics as well as the business sector, Anna Kinberg Batra comments on the assignment.
Anna Kinberg Batra has broad experience from all political levels, as former leader of the Swedish Moderate Party, former chair of the Finance and EU committees in the Swedish Parliament, expert in the Prime Minister’s committee and leader of the Moderates’ first office in the European Parliament.
She has also had local and regional assignments in Nacka, the City of Stockholm and Stockholm County Council / Region Stockholm, including its health and medical care committee. Since then, she has focused on assignments in the business sector, primarily as an advisor and board member.
This background, in combination with specific knowledge in matters relating to digitalization and business development, makes her well suited for the assignment as a member of Carasent’s board, says Johan Lindqvist, chairman of the board:
– We are happy to welcome Anna to the board of Carasent. She will contribute important skills and experience in our efforts to improve the health care sector through efficient and qualitative e-health services.
One of the development areas that Anna Kinberg Batra emphasizes, and wishes to highlight in her work going forward, is the need for sustainable strategies for a coordinated care.
– Swedish healthcare is under great pressure, which has become clear not least during the corona pandemic. We are one of the world’s most digitalized countries and one of the countries that invests the most resources in care. But, at the same time we are listed at the bottom of the OECD-countries regarding the proportion of doctor’s time per patient.
– Using the opportunities of digitalization better in healthcare can therefore have major effects in accessibility and quality. This is something Sweden is in urgent need of and where politics and business need a better exchange with each other, says Anna Kinberg Batra.
Carasent ASA focuses on developing companies and e-health services in the Scandinavian market. The company is listed on the Oslo Stock Exchange.
About Anna Kinberg Batra:
Anna Kinberg Batra has experience from all political levels, as party leader (M) but also chair of the Finance Committee and the EU Committee, expert in the Prime Minister’s Committee and leader of the Moderates’ first office in the European Parliament. She has also had local and regional assignments in Nacka, the City of Stockholm and Stockholm County Council / Region Stockholm, including its health and medical care committee.
In addition to politics, Kinberg Batra has previously been Information Manager at the Stockholm Chamber of Commerce, Project Manager at Universum och Prime, board member of Avanza Pension and Collector Bank. Today she works on multiple boards and as a lecturer, author and advisor to company managements, leads the government-driven investigation of digital payments, has board assignments in Swedish Space Corporation, Soltech Energy and SJR and writes chronicles in the financial newspaper Dagens Industri.
For more information:
Johan Lindqvist, Chairman of the Board, Carasent ASA
+46 733 55 09 35
Carasent ASA has acquired the Norwegian company Avans Soma AS, developer of leading medical record systems and IT solutions in the Norwegian health care market.
– We are very pleased to have completed this transaction as Avans Soma, with its strong presence in the Norwegian health care market, constitutes a foundation for our further establishment in Norway and other growth opportunities in new segments, says Johan Lindqvist, Chairman of the Board of Carasent.
Avans Soma is characterized by a large loyal customer base and stable market share growth during the last 15 years. This will provide a smooth access into the Norwegian health care market for Carasent.
– An existing organization in Norway, with the solid knowledge and experience that we see within Avans Soma, is extremely important. It creates great value, in terms of being able to use existing technical systems integrations and solutions that Avans Soma provides today.
Through its robust organization of 25 highly competent employees, Avans Soma will also offer tangible guidance regarding sales, support and consulting in the Norwegian market, he says and continues:
– The wide range of contacts and business networks that Avans Soma developed over the past 15 years, in terms of customers and clients within the Norwegian healthcare market, private as well as public sector organizations, and partner relationships, represents an important strategic asset for the joint company. Avans Soma serves more than 140 customers, with a strong market share within the key segments.
The acquisition of Avans Soma and their products for social care and mental illness rehabilitation, results in a broadened product portfolio and the new collaboration enables Avans Soma to intensify its work towards offering SaaS-based services. Hence, there are strong organic growth opportunities both from the existing customer base and from winning new clients.
Avans Soma’s revenues and EBITDA was approximately NOK 24 million and NOK 6 million as per LTM Sep-2020, with an annually recurring revenue (“ARR”) of approx. NOK 21 million.
The agreed purchase price is NOK 122.5 million, corresponding to an enterprise value of NOK 125 million less Avans Soma’s consolidated net debt position of NOK 2.5 million (the (“Purchase Price”).
The transaction purchase price has been settled as follows: – 50% of the Purchase Price in cash upon closing, – 50% of the Purchase Price as shares in Carasent valued at a price of NOK 27.7 per share (the “Share Settlement”).
The majority shareholder of Avans Soma, Norwegian family office Rieber & Søn, will become a large shareholder in Carasent with approximately 2% of the outstanding shares following the transaction. All selling shareholders have entered into a lock-up agreement of 15 months on the Share Settlement. DNB Markets acted as financial advisor to Carasent in connection with the transaction.
For further information contact:
Johan Lindqvist, Chairman of the Board of Carasent ASA
Cell: +46 733 550935
About the companies:
Carasent ASA was founded in 1997. In May 2018 the Swedish company Evimeria EMR AB, a company providing cloud-based medical record services to the health care industry, was acquired. Carasent’s strategy is to develop and expand digitalization that helps customers in providing efficient and qualitative health care services in the Scandinavian market.
Avans Soma AS:
Avans Soma is a Norwegian company that develops and sells digital systems and tools adapted for users in the segments for health care, rehabilitation and mental illness. Avans Soma currently has 25 employees in offices in Oslo, Bergen and Dale.
Carasent ASA: Presentation of Q3 2020 financial results
October 15, 2020
Press release: Consensus invests in Carasent ASA
May 13, 2020
The two Consensus funds “Småbolagsfonden” and “Sverigefonden” have, in total, acquired 1.2 million shares in Carasent ASA. This corresponds to 3% of the votes and capital, which places the funds in the top ten of the company’s list of largest shareholders.
Consensus fund activities highly focuses on investments in undiscovered small companies on stock exchange lists that are not normally followed by the traditional banks and analysts. The management aims to find companies with the relatively unusual combination of low valuation and strong growth figures.
– We have had a close eye on Carasent ASA and its subsidiary Evimeria EMR AB for a period of time and they meet our criterias with profitable, high growth and an attractive business model in a cyclically insensitive market. All this during a structural change where digitalisation is a strong drive, says Anders Wright, fund manager at Consensus.
Evimeria EMR AB develops and delivers digital e-health services to over 400 clinic customers in the private health care market in Sweden and has in recent years had an average growth of 40% per year. Products and services are delivered as a SaaS service with a high proportion of repeatable revenue. The strategy ahead is based on three key foundations: geographical expansion, new market segments and an expanded product and service offering.
– The fact that one of the most successful small company funds chooses to invest in the company is a good grade and approval of our work, comments Johan Lindqvist, Chairman of the Board of Carasent ASA.
For further information contact:
Johan Lindqvist, Chairman of the Board of Carasent ASA
Cell: +46 733 550935
About Carasent ASA
Founded in 1997, Carasent (former Apptix ASA) was previously the parent company of Apptix Inc but withdrew from the US market in 2017. In May 2018 Apptix, now Carasent, acquired the Swedish company Evimeria EMR AB, a company providing cloud-based medical record services to the health care industry. The company’s strategy is to continue to develop and expand digitalization that helps customers to meet challenges in providing efficient and qualitative health care services.
Carasent ASA - Status and potential effects of Covid-19
Due to the rapid change in the pandemic situation and the continuous change of preventive measures recommended in Sweden we see substantial uncertainty in the marketplace going forward.
This will most likely have some effect on Carasent ASA’s subsidiary, Evimeria EMR AB.
As of today there has been no activity slowdown in our existing customer base, while we have seen a rapid increase of demand for digital integrated services, such as video- and
Going forward, however, it is believed that social distancing and other priorities will temporary negatively affect customer acquisitions and slow down customer implementations as well as some operational customer activity.
Due to the uncertainty pertaining to the implications this year, Carasent ASA withdraws its 2020 guidance. At this stage, we do not believe the effect to be dramatic and we will continue to invest in our expansion projects with regards to new segments, geographies and new services.
Long term, we reiterate our market view. The market development, seen from a fundamental perspective – that is, the need for a growing healthcare sector and need for new value-creating and effective digital solutions – is very strong.
The background to this is the underlying trends, with a growing ageing population and an increased outpatient healthcare in a hard-pressed public sector.
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