Climate Change Data

Environmental Metrics

Social Achievements

• Improved diagnostics and reduced stress levels for patients.
• Completed patient enrollment for two clinical studies (Dan-NICAD II and SEISMO) despite the COVID-19 pandemic.

Governance Achievements

• Streamlined the organization’s business areas and assigned clearer areas of responsibility.
• Successfully completed a rights issue and share issue offsetting debt.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic causing cancellations of forums, congresses, and study suspensions.
• Challenges in reaching target groups due to lockdowns and restrictions.
• Delayed reimbursement process in Germany due to the pandemic.

Mitigation Strategies

• Realigned operations to conduct video meetings, virtual training programs, and other forms of support.
• Developed a health economic model to demonstrate the value of CADScor® to authorities.
• Continued efforts to increase knowledge and awareness of CADScor® through selected forums and dialogues with hospitals and authorities.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Social Achievements

• Strengthened the company with important key competencies, initiating sales in the US and securing successful progress in collaborations within the US insurance and healthcare system.
• Established a collaboration with the American College of Cardiology (ACC) to design clinical recommendations for most effective use of the CADScor® System.
• Recruited a strong team consisting of a commercial management team, its own sales organization and a network of commission-based sales agents. Active in 14 states (estimated 52% of market potential).

Climate Goals & Targets

Environmental Challenges

• Long sales cycles and reimbursement processes in the US market.
• Time needed to establish a new reimbursement code and ensure clinics receive sufficient payment from insurance companies.
• Lack of American studies, clinical experience, or experts using CADScor System when starting operations in the US.

Mitigation Strategies

• Internal reprioritizations to run the business efficiently.
• Focus in Europe on supporting established customer relationships and driving increased patch utilization until reimbursement approvals are obtained.
• Reorganized management to better drive a strong unified focus on the US market.
• Rights Issue carried out to provide SEK 32.7 million (before issue-related costs) for long-term financing.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS, IAS 34

Environmental Metrics

Social Achievements

• Expansion of US-based Advisory Board with three new advisors.

Climate Goals & Targets

Environmental Challenges

• Reduction in revenue due to implementation of a new business model in the US market (consignment basis with minimum usage thresholds).

Mitigation Strategies

• Implementation of a new sales model in the US market to expedite long-term growth through increased patch utilization and establish more predictable reimbursement structures for US customers.
• Significant changes to the sales team, including turnover of nonperforming representatives and addition of new high-caliber sales representatives with specialized experience in the cardiac diagnostic space.
• Implementation of a new Enterprise Resource Planning (ERP) platform to streamline operations and optimize resource planning.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS, IAS 34

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Transition to a new usage-based business model in the US market, resulting in a decrease in revenue compared to the previous year.

Mitigation Strategies

• Cost-saving measures and improvements in operational efficiency.
• Continued efforts to secure funding for future operations.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS, IAS 34

Third-party Assurance: Öhrlings PricewaterhouseCoopers AB