During October, we continued to convert our agreements and partner relationships into customer implementations. A customer implementation has started as part of the collaboration with Atea, work on prescribing has continued in Region Jönköping County, and more care teams have been trained in the Netherlands. On Iceland, more private customers have started using Dosell. At the same time, we updated the administration portal and prepared the next steps together with our partner in Finland.
In the September letter, we described how available units and existing agreements are to be converted into usage and recurring revenue. Our work in October has therefore focused both on new customer implementations and on creating the conditions for existing customers to grow: trained staff, effective workflows and support after implementation.
Sweden - from agreements to usage
In April, we announced that Dosell had been selected as the solution in the procurement conducted by Västervik and collaborating municipalities, where Atea Sverige AB was awarded the contract. During October, a customer implementation was initiated as part of this collaboration. We are now following up on the start-up to support continued usage.
In Region Jönköping County, we have worked with healthcare professionals on prescribing and the practical use of Dosell. The regional agreement provides a way to reach people who need medication support also outside regular home-care implementations. Our work is to help healthcare providers make use of this opportunity.
In September, we announced the agreement with Mora, Orsa and Älvdalen following the municipalities' joint procurement under Adda's framework agreement. Ahead of the agreement start on 1 December, training has been planned in two of the municipalities. We have also received enquiries from two other municipalities regarding Dosell for their demonstration environments. Implementations will take place step by step based on customer needs and decisions.
The Netherlands - developing existing customers and adding more care teams
Dosell is already in use at established care organisations in the Netherlands. The focus is on supporting more users within these customer relationships and introducing the solution to new care teams. During the latter part of October, our Swedish and Dutch colleagues conducted training in Dosell Pro, our app for healthcare professionals managing the medication dispenser.
Before the acquisition of the Dutch business, our former partner used a proprietary system for Dosell. We are now gradually migrating customers to our shared app and administration portal. This brings development, training and technical support together on the same platform and gives us better opportunities to improve the customer experience. The transition is being coordinated with customers' IT functions, staffing and implementation plans. The aim is to simplify daily handling for healthcare professionals and support more customers through shared resources and working methods.
Product development - simpler handling and integration with healthcare systems
On 19 October, we launched the updated administration portal. A clearer interface and improved overview of units and alarms will simplify healthcare professionals' daily management of Dosell.
During October, we also continued work on an integration between Dosell and an external healthcare platform. The aim is for the medication support to be incorporated into staff members' existing digital workflows. This could make Dosell relevant in more customer settings where healthcare providers are seeking an integrated solution. Development and verification remain before the full planned solution can be put into use.
Finland - strengthening local sales with AddSecure
During October, we worked with AddSecure to strengthen local customer development. As a follow-up, a dedicated sales resource for Dosell will be added at AddSecure in November. The next steps are product training and joint sales follow-up. This reinforcement will combine the partner's local customer relationships with a clear focus on demonstrations, customer dialogue and the path to implementation.
Iceland - more users through the pharmacy channel
Following the September launch through SKAND and Lyfja, more private customers started using Dosell during October. This follows up the launch with actual use in the home, where the pharmacy channel provides private individuals and relatives with a local route to advice and support. SKAND has also met with healthcare providers and worked on proposals for pilots in home healthcare. The structure and start dates for these pilots have yet to be determined.
November - customer and partner meetings in Norway and Germany
On 10-11 November, we will participate together with Vakt og Alarm at eHIN in the Oslo area. From 16-19 November, we will participate in the Swedish pavilion at MEDICA in Düsseldorf, with product demonstrations and scheduled meetings. We use these meeting places to develop customer and partner relationships that can support our sales and implementations.
Looking ahead - implementation, revenue and capital tied up in inventory
The Q3 report on 3 November described postponed customer implementations, weaker-than-expected revenue development and a revised forecast. Our priority is to complete planned customer start-ups and help existing customers expand their use. The pace of implementation depends both on our delivery and support capacity and on customers' planning and staffing. Procurement, training and installation therefore need to be coordinated. More predictable execution will shorten the time that capital is tied up in units before generating recurring revenue. Together with continued cost control, this is central to strengthening the business.
Thank you for following our journey.
Contacts
Anders Segerström, Chief Executive Officer
E-mail: anders.segerstrom@izafegroup.com
Phone number: +46 70-875 14 12
iZafe Group AB (publ.)
David Bagares gata 3
111 38 Stockholm
E-mail: ir@izafegroup.com
www.izafegroup.com
eucaps.com/izafe-group
About iZafe Group AB (publ.)
iZafe Group is a Life Science company that conducts research, development and marketing of digital medical solutions and services for safer medication management at home.
The company leads the development of digital drug dispensing through the drug robot Dosell as well as the SaaS solution Pilloxa with the smart pillbox. The company's solutions reduce the risk of incorrect medication in the home, increase compliance, relieve public health care, increase the quality of life for patients and create a safer environment for relatives.
The customers consist of private individuals, pharmaceutical companies and public and private healthcare providers in Sweden, the Nordics and globally. iZafe Group primarily sells through well-established partners who already have long and deep customer relationships with the prioritized customer groups. The head office is in Stockholm.
iZafe Group AB has been listed on the Nasdaq First North Growth Market since 2018. The company's Certified Adviser is DNB Carnegie Investment Bank AB. Further information is available at www.izafegroup.com
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