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Net sales amounted to SEK 37.2 million (19.7), corresponding to an increase of 89 percent compared with the corresponding period in the preceding year.

For comparable units, sales increased by 53 percent.

Operating profit amounted to SEK 2.2 million (loss 0.8). The outcome includes acquisition costs of SEK 6.0 million.

Net profit amounted to SEK 1.5 million (loss 0.7), corresponding to earnings per share of SEK 0.04 (loss 0.02).

Cash flow from operating activities was negative in the amount of SEK 8.9 million (5.3). As of March 31, 2021, cash and cash equivalents amounted to SEK 263.7 million (68.6).

On January 20, a conditional agreement was entered into to acquire all of the shares in Mimic Technologies Inc., which operates in the area of robotic surgery. Mimic is based in Seattle in the US, and the acquisition provides Surgical Science with an additional customer base in robotic surgery, contributes data collection/analysis technology and significantly strengthens the presence in the important US market. The initial valuation was USD 18 million (approximately SEK 150 million) on a cash and debt-free basis. In addition, a maximum USD 15.6 million (approximately SEK 130 million) may be paid as a deferred contingent consideration.

A directed share issue of approximately SEK 322 million was implemented, in which a number of new and existing Swedish and international institutional investors subscribed for shares. The transfer of ownership took place on January 27, once all of the terms of transfer had been met. Mimic was consolidated within Surgical Science as of the transfer date.

Gothenburg, Sweden, May 11, 2021
Surgical Science Sweden AB (publ)

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This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

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