Initial Synergies - Topcon/ifa systems

During the AAO ifa systems AG (ISIN DE0007830788, Entry Standard, IS8 GR) presented a new software generation

As an initial result achieved in the IBM Watson Health Medical Imaging Collaborative a live demonstration applying big data analytics was presented to the expert audience.

Workflow Software/System „IMAGEnet^® Connect” introduced globally

Topcon announced the global roll-out of IMAGEnet^® Connect. With this vendor-neutral workflow software for picture and data management, Topcon offers a solution compatible with 450 medical devices used in the ophthalmology space. IMAGEnet^® Connect, developed by ifa systems, can be integrated in every Hospital Information System.

Solid Q3/2016 results - way above expectations

The Company reported Q3 revenues soaring at € 3.03 Mill., circa 15% above our forecasts, marking a 25% increase yoy. ifa’s elevated sales have triggered higher expenses for this period. However, an EBIT-margin of circa 20% was retained. EBIT was reported with € 0.64 Mill. for Q3/2016.

ifa systems wins prominent EU-sponsored contract in a public bidding

Having established OPHTEL in 1996, and the web-based register EUREQUO, thereafter, ifa was awarded with a third EU-sponsored contract to establish and service a database with the indication Keratoplasty.

We have increased the fair value of ifa systems’ stock by € 1.43 to € 17.88. Our rationale: Initial success with innovative HIT solutions paired with increased projections of sales and profitability. Our projections are based on signed contracts.