CSAM Health Group releases Q1 2021 report – demonstrating 40% YoY growth and fresh M&A activity

On 27 September 2023, CSAM Health Group AS changed its name to Omda AS. For articles on historical events such as transactions, financial results etc. we will not retroactively change the name.

CSAM Health Group AS (“CSAM”), the leading provider of niche eHealth solutions in the Nordics, today published its financial report for the first quarter of 2021. In addition to robust YoY growth, CSAM reported strong development with a 25% increase in recurring revenue (ARR). In addition, the company completed a new acquisition in the first quarter, bringing Carmenta Public Safety business into the CSAM family of solutions.

– “The addition of Carmenta’s Public Safety business substantially increases CSAM’s presence in the Emergency & Acute domain in the Nordics, in addition to expanding CSAM’s position in Europe – placing CSAM in pole position to becoming the Nordic’s benchmark niche provider of end-to-end ecosystems within e-health,” says CEO Sverre Flatby.

Report highlights:
• Q1-2021 sales represent top-line growth of 40% from Q1-2020
• Q1-2021 recurring revenue representing YoY growth of 25% and low churn
• Total sales Q1 2021 of 76.8 million, vs. 54.7 million in the first quarter of 2020
• Solid financial performance with reported EBITDA increased to 14.4 million (9.8). The reported EBITDA-margin increased to 19% in 2021 from 18% in 2020
• Accelerated 7% in sales outside the Nordics in Q1-2021, compared to 1% in Q1-2020
• Sales revenue increase driven by mix of organic and acquired growth.
• Acquired Carmenta Public Safety, which provides complete software solutions for managing every aspect of emergency response

– “Based on the development in first quarter, we will reach our One billion NOK Sales target faster than planned,” continues Flatby.

Subsequent events
• CSAM successfully completed a tap issue of NOK 200 million under the Company’s existing senior secured bond with maturity date 25 September 2024 and ISIN NO 0010893738
• The bond tap issue enables CSAM to continue to pursue its strategic growth path through M&A activities
• Announcement of former chairman Gunnar Bjørkavåg of Visma as new Board member of CSAM, 6. May 2021

Click here to view the full Q1 report: https://www.csamhealth.com/investor-relations/

CSAM provides a growing bouquet of e-solutions for hospitals, health providers and emergency & acute response, and currently serves some of the most prominent health operations in the Nordics. Today CSAM has 12 offices and subsidiaries in 7 countries.


Media contact
Leslie Johnsen
Interim Communications Director
+47 41 45 80 43

Investor contact
Einar Bonnevie
Chief Financial Officer
+47 91 55 45 32

About CSAM
CSAM has established itself as a leading Nordic niche player 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 company also has local offices in Tromsø, Stockholm, Karlstad, Gothenburg, Uppsala, Copenhagen, Helsinki, Oulu, Tampere, Valencia, and Warwickshire, as well as a wholly owned software engineering subsidiary in the Philippines.
For more information, visit www.csamhealth.com. Follow us on LinkedIn and Twitter.

Einar Bonnevie
Chief Financial Officer

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Helen Døcker
Chief Marketing & Communications Officer
She is based in the company’s headquarters in Oslo, Norway.

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