During the quarter, we have reached a milestone in the collaboration with Capio Elderly and Mobile Care. The five-year agreement is being implemented across Capio’s clinics and start-up meetings have successfully been held with employees from Capio Geriatrics. FRISQ Care has been positively received and the software is said to make it easy to “do the right thing” whilst increasing patient safety, improving collaboration across the care team and making the meeting with the patient a better experience.
I am also delighted to announce that Karen Ventura will join the team as Chief Product Officer on November 1st. Karen is a senior IT professional and leader and she has previously been Head of Interoperability at Servelec, a leader in connected healthcare software and services, with a responsibility for defining product development direction and business transformation. With Karen in place, we have a completely renewed management team with extremely good experience to accelerate growth.
As communicated in Q3, FRISQ is actively pursuing business opportunities in the UK where care providers are looking for tools to allow them to treat patients more effectively with long-term health conditions. We are actively engaging with several of the newly formed Integrated Clinical Systems (ICS). These ICSs typically are units of 1M+ patients with budgets in excess of £1B.
We are currently working on long-term financing and several alternatives for structural changes. To enable this, we review our cost base and possible credit facility.
George Thaw, CEO, FRISQ
Financial summary Third Quarter 2021
• Reported net revenue amounted to 0.8 mSEK (0.3)
• Other revenue amounted to 0.1 mSEK (0.2)
• Earnings per share amounted to -0.4 SEK (-4.7)
• Cash-flow amounted to -19.9 mSEK (-19.0)
• Cash at the end of the period amounted to 30.5 mSEK (34.1)
• Comprehensive income amounted to -20.1 mSEK (-151.1)
Events during the quarter:
FRISQ has signed a commercial agreement with Capio Elderly and Mobile Care. The agreement runs for 5 years and the order value amounts to SEK 15 million. The agreement entered into force on 1 July 2021 and replaces the previous pilot agreement, after FRISQ Care has been evaluated in competition with other systems.
Full year report to be published on January 27, 2022