CSAM Health Group’s Annual Report for 2021

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.

Oslo, Norway, 26 April 2022: Today, CSAM Health Group AS (CSAM), a leading provider of specialised software for eHealth, published its Annual Report for the year 2021.

CSAM Health Group AS grew its income by 44% to reach 331 MNOK for 2021, and recorded EBITDA margins at 13%. Three acquisitions were done in the public safety and health analytics domains, strongly contributing to the company’s growth.

Sverre Flatby, CEO of CSAM, highlights the continued growth: “We can look back at yet another successful year and we are actually ahead of our 5-year growth plan. In addition, we are delivering solid growth on recurring revenue and for 2021, we saw that 76% of total revenue came from long-term software contracts.”

“CSAM’s growth ambition is founded on a targeted M&A strategy, and we made three significant acquisitions in 2021. We bought Carmenta and Optima in the public safety domain, as well as MedSciNet, which was our first venture into health analytics,” Flatby said. “We consider the health analytics market to be an extremely interesting field where there will be innovation, growth and digitalization and we are excited to enter into this market through MedSciNet’s customer relationships in Europe, North America and Oceania.”


Report highlights include:

  • 2021 income of 331 MNOK, growing 44% from 2020
  • Recurring revenue grew by 44% in 2021 reaching 250 MNOK
  • EBITDA for 2021 was 42 MNOK resulting in a 13% EBITDA margin
  • Reported sales outside the Nordics increased from 1% to 9% in 2021
  • Q1: Acquired Carmenta’s public safety business, offering complete software solutions for managing every aspect of emergency response. Increased CSAM’s presence in the Emergency & Acute domain in the Nordics and in the rest of Europe.
  • Q2: Acquired Optima, adding advanced analytics solutions to CSAM’s public safety portfolio, enabling better prediction and modelling for optimized allocation of emergency resources.
  • Q2: Acquired MedSciNet to enter the health analytics market. MedSciNet provides benchmark eHealth solutions within clinical research.

Download the report here: https://link.assetfile.io/55Utl8vE94buLHtNSJDb8z.pdf

For more information, please contact:
Einar Bonnevie
Chief Financial Officer
+47 91 55 45 32

About CSAM
CSAM Health Group is the leading provider of specialised software for eHealth in the Nordics. From this solid foundation the company has grown to serve 500 customers in 25 countries. Our highly specialised software solutions are instrumental in the clinical care processes of health care providers and in enabling emergency responders to enhance public safety. CSAM’s headquarters are in Oslo, Norway. At the end of 2021, CSAM had almost 300 dedicated specialists at ten locations across Europe, Asia, Oceania and North America, including a wholly-owned software engineering subsidiary in the Philippines.

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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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