GlobeNewswire by notified

ContextVision’s third quarter sees a recovery in sales and market entry in digital pathology is on track

Share

STOCKHOLM – Oct 22, 2020 – ContextVision, a medical technology software company specializing in image processing, image analysis and decision support tools for digital pathology, today reports its third quarter.   

“We are making progress according to plan in digital pathology, and with several completed installations we can now proceed with extended studies in the clinical workflow. The pandemic situation continues to keep business somewhat unpredictable. However, sales in our medical imaging business have increased compared to the second quarter, allowing us to be cautiously optimistic, and our total YTD sales growth as of Sep 30th is greater than that of the same period in 2019. While we see minor short-term effects on sales, and travel restrictions slowing down new business, our strategy is to continue developing the company brick by brick while keeping our financials under control. What is most important is that these effects are temporary; the present situation only emphasizes the need for efficient digital solutions within healthcare,” says Fredrik Palm, CEO of ContextVision.

Digital Pathology
INIFY® Prostate Screening, the company’s first decision support tool for prostate cancer diagnosis, was granted CE -mark status in June, which means that it is now available for clinical use within EU. The predicting engine in the software is built on deep learning algorithms, offering superior accuracy on a pixel level. The product will allow pathologists to focus their time on specimens with suspicious cancer and minimize time spent on benign tissue.

Several installations at key reference centers have been completed in the third quarter, in order to broaden use and perform extended studies in the clinical workflow. Advanced discussions are in progress with additional pathology laboratories in the digital forefront. In parallel, we continue our R&D activities, with this next-generation product for prostate cancer, as well as other cancer types that are known to cause the heaviest burden on the pathology labs around the world.

Medical Imaging
Several new agreements, as well as a regional extension with an existing strategic customer, have been signed during the quarter. One contract includes Rivent®, our latest product for 2D ultrasound released in May this year. These achievements have been successfully carried out solely via remote communication.

Sales in Q3 ended at 22 MSEK, which is on par with sales in Q3 2019 after adjusting for currency effects, and a 9% increase compared to this year’s previous quarter. EBITDA was 4.9 MSEK, and the operating result ended at 1.2 MSEK. X-ray business continues on positive path, growing by 18% compared to the corresponding quarter 2019, while 2D ultrasound remains at a slightly lower level due to other acute priorities among hospitals and clinics.

Sales for the first nine months of the fiscal year grew 6% compared to the same period in 2019, and ended at 71.2 MSEK, with an EBITDA of 22.5 MSEK.

###

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 +46 76 870 25 43 or visit www.contextvision.com.


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

Attachment

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Sword Group: NOTICE OF CONVOCATION TO THE SHAREHOLDERS FOR THE ANNUAL ORDINARY GENERAL MEETING OF THE COMPANY28.3.2024 18:00:00 CET | Press release

General Meeting on April 29, 2024, at 11:00 am at the registered office to deliberate on the following agenda: Under the authority of the General Meeting acting under the quorum and majority conditions of an Ordinary General Meeting: - Reading of the management report of the Board of Directors including the group management report and feedback on the conclusion of agreements referred to in article L.441-7 of the amended law of August 10, 1915, for the financial year ended December 31, 2023; - Reading of the report of the approved statutory auditor on the 2023 annual accounts, the group's consolidated financial statements, and on the execution of its mission; - Approval of the statutory accounts as of December 31, 2023; - Approval of the consolidated accounts as of December 31, 2023; - Allocation of the statutory exercise results as of December 31, 2023; - Discharge to the directors for their management for the financial year 2023; - Renewal of Mr. Jacques Mottard's director term; - Ren

Sword Group: H2 2023 Report of the Liquidity Agreement28.3.2024 18:00:00 CET | Press release

Sword Group - H2 Report of the Liquidity Agreement contracted with ODDO BHF from 01/07/2023 au 31/12/2023 Under the liquidity contract awarded by Sword Group to ODDO BHF, as of 31/12/2023, the following resources appeared on the account of liquidity: 8,959 shares €359,040 - Number of transactions executed during the semester at purchase: 1,116 - Number of transactions executed during the semester on sale: 1,080 - Volume exchanged over the semester upon purchase: 34,943 shares for an amount of €1,319,183 - Volume exchanged over the semester for sale: 38,733 shares for an amount of €1,455,889 As a reminder, during the last balance sheet of 30/06/2023, the following resources appeared in the liquidity account: 12,749 shares €353,334 The implementation of the liquidity contract is carried out in accordance with AMF Decision No. 2018-01 dated July 2, 2018, establishing liquidity contracts on equity securities as accepted market practice. About Sword Group Sword has 3,000+ IT/Digital & Softw

Sword Group: Availability of the 2023 Financial Report28.3.2024 18:00:00 CET | Press release

Sword Group - Availability of the 2023 Financial Report According to the current regulations, Sword Group announces that its 2023 Financial Report has been made available to the public. It was sent to the Commission de Surveillance du Secteur Financier (CSSF) and was also filed with the Luxembourg Stock Exchange. It can be viewed and downloaded on the website of the company:Regulated Information Dividend €1.7 gross per shre Pending approval at the Annual General Meeting on April 29. Ex-date: April 30, 2024 - Payment: May 3, 2024 Calendar 25/04/24 | 2024 First Quarter Revenue 18/07/24 | 2024 Second Quarter Revenue About Sword Group Sword has 3,000+ IT/Digital specialists present over 5 continents to accompany you in the growth of your organisation in the digital age. As a leader in technological and digital transformation, Sword has a solid reputation in software publishing and in complex IT & business project management. Sword optimises your processes and enhances your data. Contact At

Sword Group: Information on the Number of Shares and Voting Rights at 29/02/202428.3.2024 18:00:00 CET | Press release

INFORMATION ON THE NUMBER OF SHARES AND VOTING RIGHTS AT 29/02/2024 Total Number of Shares: 9,544,965 Number of theoretical voting rights: 9,544,965 Number of exercisable voting rights: 9,398,264 Dividend €1.7 gross per shre Pending approval at the Annual General Meeting on April 29. Ex-date: April 30, 2024 - Payment: May 3, 2024 Calendar 25/04/24 | 2024 First Quarter Revenue 18/07/24 | 2024 Second Quarter Revenue About Sword Group Sword has 3,000+ IT/Digital specialists present over 5 continents to accompany you in the growth of your organisation in the digital age. As a leader in technological and digital transformation, Sword has a solid reputation in software publishing and in complex IT & business project management. Sword optimises your processes and enhances your data. Contact Attachment Sword Group SE Number of Shares & voting Rights published on 28032024

Sword Group: Availability of preparatory documents for the Ordinary General Meeting of 29 April 202428.3.2024 18:00:00 CET | Press release

The Ordinary General Meeting of Shareholders of Sword Group SE will be held at 11 a.m. on 29 April 2024. The notice of meeting including the agenda was published in the RESA (Recueil électronique des sociétés et associations) and in the Luxemburger Wort on 28 March 2024. The terms and conditions for attending and voting at this meeting are set out in this notice. The documents and information that must be provided at the General Meeting, together with the single form for participation, postal voting and proxy (the "Single Form"), are available on the Company's website here and at the registered office for an uninterrupted period commencing on the day of publication of this notice and ending on the day after the General Meeting. Upon presentation of their shares, shareholders may obtain copies of the documents free of charge under the applicable legal conditions. Registered shareholders must send the Company the duly completed, dated and signed Single Form, together, where applicable, w

HiddenA line styled icon from Orion Icon Library.Eye