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CARA : Carasent ASA acquires Medrave Software AB . Invitation to webcast 16 December 08:00 CET December 15 , 2021 Carasent ASA acquires Medrave Software AB – invitation to webcast 16 December 08:00 CET . Carasent ASA has acquired the Swedish company Medrave Software AB , including its fully - owned Norwegian subsidiary Medrave Software AS ( together “ Medrave ” ) , a market leader in Scandinavia within quality improvement software for healthcare practices within primary care and secondary outpatient care . " We are very pleased to have completed this transaction with Medrave . Its complementary products will strengthen Carasent's offering and provide cross sale potential within primary and specialist care in Sweden . Medrave is also aiming to scale up their presence in the Norwegian market , which is well in line with our own strategy of launching Webdoc in Norway ” , says Dennis Höjer , CEO of Carasent . Medrave was established in Sweden in 2007 by the two doctors Per Stenström and Svein Gjelstad , however , history dates back to 1997 when Per Stenström led an internal project in Region Stockholm to develop a reporting tool for quality improvement to primary care clinics . Medrave's module - based software provides clinical reports to GPs , physiotherapists , child care , urgent care , youth care , mental health and habilative care practices . The quality improvement solution automatically collects and sorts data , analyze and visualize , tracks and benchmarks KPIs , and provides automatic reporting . As such , healthcare professionals save time , get better overview , can reach goals easier , and have consistent and improved reporting – ensuring safer care for all patients . " We are impressed by the module - based software solutions that the Medrave team has developed over many years and look forward to work with 16 new highly competent and motivated employees . The quality improvements tools developed by Medrave will expand our offering with a product in high demand among our customer base and enable us to service our clients in a new segment , the public healthcare sector . In summary , this transaction provides a strong rationale adding a new product to our portfolio in line with communicated strategic priorities of expanding within product , segment and geographical dimensions , ” Höjer adds . Medrave has an attractive customer base of more than 260 clients across Sweden and Norway , covering 1,646 practices and an estimated 8.8 million patients , with ~ 60 % of revenue from the public sector in 2020 . Medrave's revenue and EBITDA were approximately SEK 23 million and SEK 6 million as per last twelve months end of October 2021 , with 99 % recurring revenues and an annually recurring revenue ( " ARR " ) of approx . SEK 22 million . Medrave has delivered consistent historical organic growth of ~ 15 % revenue compounded annual growth rate ( " CAGR ” ) from 2017-2020 . However , through leveraging Carasent and Medrave's combined scale and product offering in existing and new markets , there are great opportunities to accelerate the growth rate going forward . The purchase price will be SEK 134 million , corresponding to an enterprise value of SEK 125 million less Medrave's consolidated net cash position of SEK 9 million ( the ( “ Purchase Price ” ) . The transaction purchase price will be settled as follows : - SEK 110 million of the Purchase Price in cash upon closing , - SEK 23.75 million will be reinvested by key employees in Carasent amounting to 627,391 consideration shares ( corresponding to 18 % of the Purchase Price ) , valued at a price of NOK 37.43 per