ContextVision’s second quarter sees multiple product releases including digital pathology debut - Seite 2

INIFY will facilitate the transformation of clinical pathology into a digital discipline, ultimately offering improved workflow and much higher quality and standardization. The feedback from BETA site tests has been very positive from usability, workflow and performance viewpoints. Contracts with several labs in the forefront of digitalization are already in place, and we have additional prospects in late-phase discussions.

Medical Imaging
Sales in Q2 ended at 20.1 MSEK, which is 13% lower compared to the second quarter of 2019. EBITDA was 3.7 MSEK and the operating result ended at 1.6 MSEK. COVID-19 affected sales, largely due to a lower demand for ultrasound systems as hospitals and clinics have been forced to make other priorities. X-ray sales continued on the positive path and grew 78% compared to the second quarter of 2019. Sales for the first six months of the fiscal year grew 11.3% compared to the same period in 2019 and ended at 49.3 MSEK, with an EBITDA of 17.6 MSEK.

Rivent, a new product for 2D ultrasound, was released for sale in May. It enables an extraordinary sharp image quality, which has been increasingly requested by leading ultrasound manufactures around the world.

About ContextVision
ContextVision is a medical technology software company specialized in image analysis and artificial intelligence. As the global market leader within image enhancement, we are a trusted partner to leading manufacturers of ultrasound, X-ray and MRI equipment around the world.

Our expertise is to develop powerful software products, based on proprietary technology and artificial intelligence for image-based applications. Our cutting-edge technology helps clinicians accurately interpret medical images, a crucial foundation for better diagnosis and treatment.

ContextVision is now entering the fast-growing digital pathology market. We are re-investing significantly in our product portfolio of decision support tools and we are dedicated to becoming a leading resource for pathologists to radically develop cancer diagnosis and improve patient care. 

The company, established in 1983, is based in Sweden with local representation in the U.S., Japan, China and Korea. ContextVision is listed on the Oslo Stock Exchange under the ticker COV.

For further information, please contact ContextVision’s CEO, Fredrik Palm, at [phone] or visit www.contextvision.com.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Attachment

• ContextVision Q2 2020 financial report