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Volpara Strengthens Financial Position with Reduced Credit Facility and Recognised as Global Microsoft Partner Volpara Health Technologies Limited

Volpara Strengthens Financial Position with Reduced Credit Facility and Recognised as Global Microsoft Partner

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Wellington, NZ, July 4, 2023: Volpara Health Technologies (ASX:VHT), a global leader in breast cancer detection software, has made significant financial strides by reducing its revolving credit facility and being named the global Microsoft Healthcare & Life Sciences Partner of the Year for 2023.

Volpara has reported a third successive quarter of strong cash flows, leading to its decision to reduce its revolving credit facility from NZ$10 million to NZ$2. 5 million. The business has operated on an approximately free cash flow break-even basis since the implementation of its revised strategy in late July 2022. With staffing changes completed in late August 2022, the company's Q1FY24 demonstrated another strong quarter of cash inflows.

These positive financial results, coupled with over NZ$12 million in cash on hand and expected repeatable positive operating cash flow, have prompted Volpara to reduce the credit facility, which is no longer deemed necessary. Over the next six months, management plans to evaluate the business's cash position further with the intention of reducing the facility even more.

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The reduction in the revolving credit facility will result in additional cost savings of NZ$112,500 per annum.

In addition to the financial update, Volpara has been recognised by Microsoft as the global Healthcare & Life Sciences Partner of the Year for 2023. This prestigious award highlights Volpara's significant contributions and advancements in the healthcare and life sciences sector. Volpara's breast cancer detection software has proven to be instrumental in improving early detection rates and enhancing patient outcomes worldwide.

Volpara will provide a comprehensive report of its Q1FY24 results on Friday, July 21, 2023. A notification with a webinar link will be lodged with the ASX next week, allowing stakeholders and investors to gain valuable insights into the company's financial performance.

Leveraging this strong financial position and strategic partnerships, Volpara is well-positioned to continue driving innovation in breast cancer detection and contribute to the advancement of healthcare solutions across the globe.

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