Oslo, Norway, November 26th, 2021: CSAM Health Group AS (“CSAM”), a leading provider of niche eHealth solutions in the Nordics, pan-Europe and beyond, today published its financial results for Q3 2021. CSAM exhibited 64% YoY growth from Q3 2020.
Q3 financials shows an EBITDA margin of 23% despite ongoing integration of four sub performing businesses acquired in 2021. 75% of Q3 sales are long-term recurring revenues from the public sector, represented by most regional healthcare entities in the Nordics and recently a growing number in the rest of the world.
“64% growth and 23% EBITDA is a robust combination that demonstrates the inherent strength of CSAM’s business model”, says Sverre Flatby, CEO. “Continued profitable growth on top of stable recurring revenues is what makes us truly believe in our communicated value creation plan.”
To enhance the company’s continued M&A and organic growth activities, CSAM strengthened the executive management team with Chief HR Officer Kjetil Skogen and Executive VP Anna-Karin Østlie.
“Tender wins and increased order backlog this quarter create new organic growth opportunities as we continue to quickly grow through acquisitions. With Kjetil and Anna-Karin onboard in the management team we are ramping up operational capabilities and M&A integration competences”, Flatby continues.
Highlights – Q3 2021:
- Reported income growth 64% compared to Q3 2020
- Reported EBITDA of 20.1 MNOK, corresponding to an EBITDA-margin of 23%
- Recurring revenue comprises 75% of total sales in the quarter
- Secured 100% of Danish blood management market in new national agreement for CSAM Prosang solution. Value approximately 100 million NOK over next six years.
- Strengthened the management team with Chief HR Officer Kjetil Skogen and Executive VP Anna-Karin Østlie
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About CSAM Health Group
CSAM has established itself as a leading niche player in the Nordics, pan-Europe and beyond in the specialised eHealth market with a unique blend of best-in-class innovative technology, and outstanding human skills. The company’s diverse portfolio of software solutions enables healthcare providers to access relevant clinical information at the point of care. CSAM’s commercial headquarters are in Oslo, Norway. The eHealth solutions provider is represented in 10 countries in Europe, Asia, and North America, including a wholly owned software engineering subsidiary in the Philippines.
For more information, visit www.csamhealth.com.
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