Successfully focusing on core business
STOCKHOLM – 12 of August 2022 – ContextVision, a medical technology software company specializing in image processing, delivered the Company’s best ever second quarter revenue numbers and a significant EBITDA increase.
Sales in the second quarter reached MSEK 32,5 (24.4), an 19% increase compared with the previous quarter, and an increase of 26% versus last year’s corresponding quarter when adjusted for currency exchange effects. EBITDA reached MSEK 15,5 (11,4).
The revenue increase is coming from new strategic contracts as well as expanding on current contracts with existing customers. Asia and Europe region are the main drivers for the revenue growth.
“Fantastic performance from the whole ContextVision team and our strong customer base enabled a fantastic quarter. The revenue record is partly due to a few one-off effects like bulk purchases and some tailwind from the currency, but the trend is clear; the focus on core business means sales are growing and this will continue going forward”, says Gerald Pötzsch, the new CEO of ContextVision.
Focus on core business is baring fruits
“For the last two quarters the company has had the chance to fully focus on the imaging business and this is starting to bear fruits with some fantastic numbers. These revenues and margins put us in a very good position for a strong overall 2022 and will be a good support for our successful development of ContextVision” Pötzsch continuous.
As of the 1st of August 2022, Gerald Pötzsch took over as the CEO. Gerald has many years of professional experience within Medical Technology, with various leadership roles across the globe. He spent 16 years with Philips in commercially leading roles in Europe, as Senior Director for Innovation in the CTO office, and most recently as business leader for a global solution business that he established in the US. He has worked within diagnostic and interventional imaging as well as informatics. He has successfully grown mature businesses and scaled new ventures by bridging customer and supplier perspectives into joint business partnerships. Gerald holds doctor’s degrees in Engineering and Medicine and also has board experience from privately owned and PE-owned companies within the MedTech industry.
Potential from existing OEM clients is very high
“I am very pleased that Gerald has joined the team at ContextVision. His experience from large imaging OEM’s (Original Equipment Manufacturer) is a great addition to the ContextVision family. The growth potential from our existing OEM clients is very high and given Gerald’s vast experience within that field, we expect great things going forward”, says Olof Sandén, Chairman of ContextVision.
”I would also like to thank our interim CEO Ola Lindblad, who did a fantastic job driving ContextVision in the interim period delivering a strong first half year”, Sandén continuous.