Three new subscriptions in the Health Sector

OSLO – 28 November 2018

Induct network now covers 75% of hospitals in Norway

Induct AS has signed three new subscriptions with the Health Authority of Northern Norway ("Helse Nord"). Existing customer in this region is the The University Hospital of North Norway (UNN) which has been a customer since October 2016. The new hospitals included in this agreement are:

  • Finnmark Hospital Trust (Finnmarkssykehuset)

  • Nordland Hospital Trust (Nordlandssykehuset)

  • Helgeland Hospital Trust (Helgelandssykehuset)

The value of the contract is NOK 300,000 in annual recurring subscription revenue and NOK 300,000 in implementation.

Induct has during the last three years signed subscriptions with 21 of the 28 Health Authorities operating hospitals or pharmacies, in all four health regions in Norway. This means the Induct health network now covers over 75% of the Norwegian Health Authorities.

The new sale to Helse Nord includes the 'Innovation Management' module. The number of subscriptions in the healthcare sector in Norway is currently 25, which means that some Health Authorities subscribe to several modules to support different business processes. Other healthcare modules include 'Grant management', 'Procedure management' and 'Lean Management'.

"Induct's Healthcare Network continues to grow and provide value to the connected members. The hospitals` solutions are connected in a network where they share selected ideas and innovation projects with each other. This enables healthcare professionals to easily find and adopt solutions that other hospitals have successfully implemented to solve similar challenges. Discovering relevant projects are performed through search and filtering or automatic matching." says Alf Martin Johansen, CEO of Induct. "We are very glad to see the strong adoption in our home market Norway. We will use this experience to strengthen our position in much larger markets where we have a presence, such as Spain and England".



For further information, please contact:
Alf Martin Johansen, Chief Executive Officer
+47 90 17 94 35
amj@inductsoftware.com

About Induct
Based on ten years of collaboration with more than 250 organizations, Induct offers collaborative communities, delivered as "Software as a Service," that enable organizations to digitalize and manage business processes. This also include 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.

Posted on November 28, 2018 and filed under Company news, Stock announcements, Investor relations.