Ortoma: Interim Report 2015-01-01 – 2015-03-31

24 Apr 2015
The Board of Directors and the President of Ortoma AB hereby present the interim report for the first quarter of 2015. Summary of Interim Report First Quarter (2015-01-01 – 2015-03-31)Net sales amounted to SEK 0 (0).
Profit after financial items amounted to SEK -2,032,964 SEK (-1,625,855).
Earnings per share amounted to SEK -0.19 (SEK -0.18).
The equity ratio was 88.0% (85.9%).
Earnings per share: Net income divided by 10,627,364 shares as of 2015-03-31. Equity ratio: Shareholders’ equity divided by total capital. Figures in parentheses: comparative period last year. With the “Company” or “Ortoma” means Ortoma AB, corporate 556611-7585.
Significant events during the first quarter of 2015, the February 2, 2015 began the useful life of Ortoma warrants of series TO 1B. The subscription period lasted until 19 February 2015. The outcome resulted in a subscription rate of 98.6% and the Company with 8134 thousand before costs. Ortoma able March 3, 2015 to announce that the Company has received a new strategic partner by the contractor Roy Forslund, through his company Infotech in Western AB, acquired just over half the GU Holding shareholding. Roy Forslund assessed by the Board of Directors of the Company as a strategic shareholder when Forslund has the expertise to understand the business and have declared a commitment to Ortoma. On March 6, 2015 announced Ortoma that the three largest shareholders of the Company appointed their representatives in the Nominating Committee and the Company’s Chairman of the Board, in accordance with the decision of Annual General Meeting 2014. See press release dated 6 March 2015 for further information on the Nominating Committee. Ortoma announced March 16, 2015 to SP Technical Research Institute in Borås by the Company appointed the new certification for CE marking of Ortoma products. On March 20, 2015 announced Ortoma Board that the Company implemented an organizational change prior to market launch, with the result that Ortoma CEO, Bertil G. Larsson, ceased employment with the agreement of the Board. Ortoma appointed the Company’s CFO, Håkan Sterner, as acting CEO. Sterner took over as CEO on 1 April 2015. Subsequent Events On April 23, 2015 announced Ortoma new date for the AGM. Previously scheduled date and was 21 May 2015. New date for Annual General Meeting is instead 9 June 2015. Chairman Klementina Osterberg comments We have now completed the 2015 first three months and it’s time for a summary of the period gone by. In February were added Ortoma about 8 million through warrants. Through this capital supply, we have the means to continue working as planned, with product launch as the largest cost item in the future. In March acquired Infotech in Western AB, a significant item in Ortoma of GU Holding AB. The transaction ensures that Ortoma was applied to a strategic and financially strong new partner. Infotech in Western AB is controlled by entrepreneur Roy Forslund who have the expertise to understand the business and whose experience running IT companies go way back. Then the certification we used previously unable to continue to meet the announced delivery times have change of certification occurred. The decision to switch to SP Technical Research Institute in Borås was taken to the best way to continue with our certification plan. With the market around the corner conducted in March, an organizational change in Ortoma, where former CEO Bertil G. Larsson resigned and Håkan Sterner was entrusted as acting president of Ortoma. We have a continued exciting year to look forward to, with the ambition to launch Ortoma Treatment Solution ™ in the market. Gothenburg, 2015-04-24 Klementina Osterberg Chairman, Ortoma AB About Ortoma Ortoma develops operating system for planning and positioning of the implant at the hip, knee and spine surgery. The company’s operating system, the OTS ™ (Ortoma Treatment Solution), makes it easier for surgeons to before surgery, measuring and planning in 3D for the placement of a joint implants and surgical positioning the placement of the implant in the patient. Ortoma has in recent years implemented significant development in order to offer a complete surgical operating systems. The market introduction of Ortoma Treatment SolutionTM is scheduled to begin in 2015 in Sweden and then in the Nordic countries and in other markets in Europe. OTS ™ (Ortoma Treatment Solution) – Unique operating systems for implant surgery Surgical System OTS ™ system consists of two modules; Ortoma PlanTM and Ortoma GuideTM.

Ortoma Plan ™ gives the surgeon a modern system for planning operations in the computer before an operation. Through 3D visualization, the surgeon with high precision determine which implant is needed and how it optimally should be placed in the patient. System module is based on diagnostic CT scans (computed tomography). The system was developed to visualize and measure the patient in 3D and simulate the proper selection of the implant. (See picture in the attached PDF)

Ortoma GuideTM is a navigation tool during an operation wrists surgeon to measure and precisely place the implant in accordance with the planning of Ortoma PlanTM. System module allows the surgeon in real time on a computer monitor to ensure that the implant is in exactly the position previously planned. (See picture in the attached PDF)

Prospects According to the updated market data is implemented globally about 7.5 million orthopedic procedures per year in the hip, knee and spine surgery. The market for Ortoma operating system, the Board believes it great. Only in Sweden is carried out annually approximately 42,600 hip, knee and spine surgeries. Ortoma mission is to develop and market the operating system for scheduling and placement of implants in order to achieve optimal therapeutic benefit to clinicians, physicians and patients. The company’s vision is formulated: “The right implant, the right place, in every patient.” Ortoma planning to sell and distribute the operating systems and treatment to hospitals and clinics within the public and private orthopedic care. After authentication on the Swedish market, the goal is to establish a partnership in more segments and geographic markets. There is a need to reduce the number of reoperations in implant surgery both nationally and internationally. The goal is to quickly achieve a strong market position. The business model is based primarily on that charge by surgery to rapidly achieve a high utilization rate of orthopedics. With a focus on strong customer support function to partners and clinicians should Ortoma entering the market both through its own sales in selected markets and through established distribution channels. After the establishment phase, the business model is continuously monitored in order to optimize the Company’s financial performance. Corporate structure and shareholding Ortoma does not have any subsidiaries and is not included in any group. The Company does not have any shareholding. The share Ortoma B shares were listed on AktieTorget 31 March 2014. AktieTorget is a subsidiary of ATS Finans AB, which is a securities company under the supervision of. AktieTorget operates a multilateral trading facility (MTF), which is not a regulated market. As at 31 March 2015, the number of shares in Ortoma to 10,627,364 pieces. The Company has two classes of shares (of which 1,050,000 pieces are A shares). A share entitles to ten (10) votes per share. Each B share to one (1) vote per share. Each share confers equal rights to the Company’s assets and earnings. Option program At the Extraordinary General Meeting November 21, 2013 approved an incentive program comprising 440,000 warrants of series 2013 to link senior executives and key employees to the Company’s development. The price per option was determined using the Black & Scholes model. Each option entitles the holder to subscribe for one (1) new share in Ortoma at a price of SEK 8.00 per Class B share. The warrant can be used to subscribe for new B shares during the period 2015-01-01 – 2018-03-31. As the dating of this document has no options were exercised. An audit report has not been audited by the Company’s auditor. Principles of the interim report The accounts in this interim report has been prepared in accordance with the Annual Accounts Act and book-keeping Standards Board BFNAR 2012: 1 Annual Report and Consolidated (K3). Future reporting
Semi-Annual Report, 2015 2015-08-27
Interim Report 3, 2015 2015-11-12
Year End Report, 2015 2016-02-25
The Board of Directors and the President certify that the interim report gives a true and fair view of the Company’s operations. Gothenburg, April 24, 2015 Ortoma AB Board and CEO


This entry was posted in Uncategorized. Bookmark the permalink.