Software company Carasent moves to Nasdaq Stockholm, after several years on Oslo Børs. The last day of trading on Oslo Børs is today, December 4, and the first day of trading on the Stockholm Stock Exchange is expected to be December 9.

- "We are better known in Sweden and see more interest from Swedish investors and customers. This is a more natural environment for us to operate in," says CEO Daniel Öhman.

A listing in Stockholm gives many Swedish funds a mandate to invest in the share, which can potentially bring many new shareholders, he emphasizes.

- "We have come a long way and are seeing good growth through new contracts and are increasing profitability at a rapid pace, so it's a good opportunity to change list, which also gives us increased visibility.

Carasent develops EHR systems and other IT solutions for healthcare clinics. During the pandemic, the company grew rapidly through acquisitions and major investments, which also created profitability challenges. As the new CEO, Daniel Öhman implemented cost savings and increased focus on sales and marketing.

- In Q3 we delivered a positive ebitda minus capex margin. It took a little longer to grow into our suit, but now we see that growth is increasing and that it falls down to the bottom line. That creates credibility and shows that we are on the right track.

Carasent has a strong position in Sweden with its flagship product Webdoc, which is mainly used by private and non-profit specialist care, but is also used by about half of the primary care clinics in Västra Götaland.

- This says a lot about how appreciated Webdoc is.

At the same time, the company is investing heavily in Germany, where the digitization of healthcare has not come as far as in the Nordic region.

The German company Data-AL was recently acquired and a new medical record system for the German market is under development. The focus is on high customer awareness and local presence.

- Our goal is to become a Norwegian-Swedish-German company. We see potential to grow in the German market from 2026.

Part of the strategy is to continue investing in product development to create competitive advantages.

- We invest a little more than our competitors in product development, which gives us a good head start that grows over time.

With a SaaS model and a high gross margin of around 85 percent, Carasent has created a stable revenue base with a high proportion of recurring revenue.

Revenue from existing customers grew in Q3 by 113 percent (NRR, net revenue retention) and sees a growth from new customers of 4 percent. The churn rate is only 2 percent.

An important event for the Swedish market is the recent withdrawal of the Millennium EHR system in Västra Götaland, which gives Carasent new opportunities.

- We have opposed the idea of a compulsory system, as it is against the law and inhibits innovation in healthcare. Private operators and primary care in the region are an important market for us, says Daniel Öhman and adds:

- "If we win, we can start selling to them again, which hasn't happened since 2017, so there is as much upside as downside here.

What risks do you see for the business?

- The biggest risk is that development projects will be delayed. We have signed many agreements so that growth increases, but for parts of it, development is required, with new modules for example, we have a high focus on that with good speed and quality of development.

You still have a high net cash position after the acquisition in Germany and have made share buybacks.

How do you see dividends going forward?

- We want to get a little further in our transition first and then come back to how we do. We should not be overcapitalized, but more negative is to be in a hurry to use the capital.

Why should private investors invest in Carasent?

- We operate in a cyclical industry. Our customers are growing and need support to digitize their businesses. Webdoc is a key product that they work with 20-30% of their time, and it has a direct impact on their efficiency. We are the market leader and growing faster than the market.