Fourth and final region to join Induct Healthcare Network in Norway

OSLO, NORWAY – October 18, 2016
Induct AS has signed an agreement with the University Hospital of Northern Norway (‘Universitetssykehuset i Nord Norge HF’), which is a part of Northern Norway Regional Health Authority (“Helse Nord RHF”).  The Authority operates all four hospitals and hospital pharmacies in the region.

Helse Nord is the fourth and final Regional Health Authority in Norway to join the Induct Healthcare Network. As part of the network, hospitals and health organizations capture, manage and share ideas, best practices, and improvements to address similar challenges to improve efficiency and patient outcomes.

Induct has during the last year and a half signed 15 of the 26 Health Authorities in Norway. In addition, Oslo University Hospital HF has been a client and partner since 2011, meaning the current numbers of healthcare clients in Norway is 16. This is another deal that supports Inducts strategy. Inducts Annualized Recurring Revenue (ARR) for Healthcare by end of 1H 2016 was 4.4 million NOK – up 132 % from 1H 2015.

These sales include one product module of the Induct platform, the ‘Innovation Management’ module. Induct also currently work with these clients to develop and pilot additional product modules to support other business processes.

Most Health Authorities also include several hospitals and clinics, estimated to 65 in total, all of which represent potential for individual use of the Induct platform and modules. In addition, municipalities and nursing homes also represent potential users to improve healthcare delivery on the Induct platform.

“Induct’s Healthcare Network now includes all four Health regions in Norway. The network enables healthcare professionals to find and adopt solutions that other hospitals have successfully implemented to solve similar challenges. We are moving closer to our ambition to become the ‘yellow pages’ for documented and shared successes within network economies.” says Alf Martin Johansen, CEO of Induct.  “We are very glad to see the strong adoption in our home market Norway, with regard to the experience use to strengthen the position we are building in much larger markets we have a presence, such as Spain and the United Kingdom”.

For further information, please contact:
Alf Martin Johansen, Chief Executive Officer
+47 90 17 94 35

About Induct
Based on eight years of collaboration with over 250 organizations, Induct offers innovation communities, delivered as "Software as a Service," that enable organizations to create, manage, track and measure the innovation process from idea creation through to final implementation and impact reporting. Induct enables its customers to connect with each other in larger networks to share best practices, while deploying and monetizing initiatives - all within a secure, collaborative, and access-controlled cloud-based network. Induct is listed on the Merkur Market list on the Oslo Stock Exchange with the ticker INDUCT-ME.

Induct: “Connecting Innovation Communities™”


Posted on October 18, 2016 and filed under Company news, Investor relations, Stock announcements.