Month: October 2021

Corporate security teams face a critical juncture

NEW YORK, Oct. 29, 2021 (GLOBE NEWSWIRE) — The following is an open letter from Cobwebs Technologies – a global leader in Web Intelligence. 

Today, the array of threats posed to disrupt businesses only intensifies, while the systems and methods organizations use to assess the potential for trouble often fail to keep pace. The result is incomplete intelligence gathering, lack of visibility into the exact nature of threats, and increased risk exposure.

The current list of threats ranges from continuously evolving cyberattacks and business espionage to geopolitical instability and terrorism. Natural disasters, extreme weather, and the ongoing novel coronavirus pandemic compound matter. Threat actors, for example, have launched ransomware attacks against hospitals, knowing their vulnerability amid expanding patient caseloads due to COVID-19. Against this backdrop, corporate security personnel must safeguard senior executives, employees, intellectual property (IP), supply chains, and brand status to name a few corporate assets.

It’s a daunting challenge. Lives, property, and corporate reputation are all at risk when an enterprise’s ability to properly evaluate and respond to threats is impaired. Indeed, many corporate risk mitigation approaches struggle to deal with the constantly shifting threat landscape.

Limits of current methods and tools

The problem stems, in part, from outmoded investigative methodologies. Organizations naturally settle on practices that have worked in the past. They may limit their threat scanning to a limited number of social media platforms, for example. Such narrowly focused inquiries, however, fail to account for fast-moving changes in web-based platforms, forums, and chat groups. Users discouraged from posting inflammatory messages on one mainstream platform will frequently move to lesser-known, alternative platforms.  

But the social media platforms — and their millions of users — found on the surface web are just the beginning. Corporate security teams must also keep tabs on information sources and repositories housed in the deep web and the dark web, both of which are not indexed by conventional search engines. Those web layers contain a multitude of data that could threaten a business. The dark web, in particular, harbors numerous sites and markets trafficking in login credentials, trade secrets, email addresses, credit card numbers, and tools for engaging in cyberattacks. Dark web forums, which suddenly surface and just as rapidly disappear, can also contain information relevant to a corporate security investigation.

In short, the organization still dependent on social media channels for threat assessment needs to broaden its horizons.

Another important weakness hampering corporate security: investigative tools with limited functionality. Threat intelligence platforms, offered by third-party service providers, serve as the default investigative systems for many corporate security operations. Such a platform is designed to alert a security analyst about a threat, but it doesn’t provide much assistance with vetting threats or creating an effective response.

In addition, relying on a single intelligence service provider also limits an analyst’s ability to tap additional sources to validate a threat and determine its scope. Organizations that can’t readily determine the severity of a threat, run the risk of overreacting and assigning too many resources to the response or, conversely, underestimating the threat and devoting too few. A disproportional response is the direct result of a one-dimensional notification. So, while a threat intelligence platform provides a useful service, it’s only one part of the threat identification and response toolkit.

What organizations need to run an investigation

An investigative platform should, ideally, cover all parts of the intelligence cycle, from planning and data collection to processing and analysis. A system that spans all those components, providing end-to-end automation, forges the critical linkage between notification and response.

Other platform qualities to consider include breadth of monitoring. Analysts should be able to define the scope of monitoring based on their own parameters, which could include geolocation data, hashtags, keywords (such as the names of executives, brands, or other corporate assets), and advanced Boolean operators. Monitoring should also cast the widest possible net across the surface web, deep web, and dark web, pulling in data from social media platforms, forums, and news sites among other sources.

The wider the reach, the better organizations can protect their assets. Thorough monitoring can help determine whether threat actors are using the company’s brand for nefarious purposes on a dark website or transferring its intellectual property.

Read the full article: https://bit.ly/3GqwZqR

Johnmichael O’Hare is the sales and business development director of Cobwebs Technologies (www.cobwebs.com). He is the former Commander of the Vice, Intelligence, and Narcotics Division for the Hartford (Connecticut) Police Department. Contact him on john.ohare@cobwebs.com

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SINGAPORE, Oct. 28, 2021 (GLOBE NEWSWIRE) — Ibanera, a global digital banking platform and financial services provider, announced that it will offer fintech services to customers in Singapore with a focus on domestic and cross-border money transfer services.

The company offers a robust suite of compliance programs for transaction monitoring and has partnered with Jumio, Refinitiv and Comply Advantage to assist with KYC/AML management, and transaction monitoring. Ibanera conducts multiple tiers of investigation and cross-checking through advanced document analysis, address validation via Proof of Address together with Geolocation check, forensic analysis, AML/OFAC/PEP and other database screening.

“Growing our presence in Singapore allows us to expand our network in the Southeast Asia region,” said Bjorn Snorrason, General Manager of Ibanera. “Our tailored fintech solutions combined with robust compliance procedures ensure a seamless customer experience.”

Ibanera is a licensed financial institution in the United States, Canada, Europe and Singapore. Ibanera holds a Major Payment Institution license regulated by the Monetary Authority Service under the 2019 Payment Services Act.

About Ibanera

Ibanera is a global digital banking platform and financial services provider. We develop tailored fintech solutions for banks, corporations and entrepreneurs worldwide. We specialize in cross-border payments, currency conversion, mobile banking, and merchant services. Ibanera has leveraged strategic partnerships with ComplyAdvantage and Refinitiv to expand Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance programs. Regulated in the United States, Canada, Europe and Singapore, Ibanera positions itself as a competitive fintech leader with a credible global footprint. For more information, visit ibanera.com.

Contact: Media@ibanera.com

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MAYFIELD, Pa., Oct. 28, 2021 (GLOBE NEWSWIRE) — via InvestorWire — JT Medical (the “Company”), JT Medical announces that it is now accepting memorandums of understanding (MOUs) from researchers wishing to secure high quality, repeatable batch, plant-based medical products derived from regulated plants, including but not limited to, cannabis, psilocybin mushroom, and peyote. These products will be grown in the Company’s U.S. Food and Drug Administration (DEA) licensed facility in Mayfield, Pennsylvania, in the U.S.

JT Medical currently has two MOUs to cultivate medical cannabis and psilocybin mushroom. As supply capacity is limited, subsequent MOUs will be prioritized on a “first-come” basis. Additional capacity will be provided based on the number and size of MOUs that proceed to a definitive agreement.

Scott Noerr, co-founder and CFO of JT Medical, notes, “We anticipate strong interest as many companies are now becoming eligible for research and development (R&D) tax credits.”

Cultivation equipment will be provided by Sprout AI Inc, a publicly traded company (CSE: SPRT) (www.sproutai.solutions). Sprout AI provides self-contained habitats that enable high-quality, repeatable batches, through the control of variables that are known to impact crop duplication. Sprout AI habitats are used to ensure the replication of active medicinal plant ingredients as well as terpene, flavonoids and other desired components. This enables both short-, mid-, and long-term studies are derived from the “same” product for medical research and efficacy reports.

The Sprout AI habitats will be operated using the enterprise resource planning and compliance (ERPc) software provided by One System One Solution (OS2) that will also permit researchers to track their batches from inception from seed, clone, or tissue sample, through to the final use/product. This access will include monitoring data of each batch while in production and tracing each batch through harvest, production and delivery. OS2 has been approved in seven countries for use under medical licensed projects.

Production, process, and distribution of plant-based products will be under license from the U.S. Food and Drug Administration (DEA) to be granted to JT Medical.

About JT Medical

To learn more about JT Medical Visit https://www.jtmedicalgroup.com/.

Co-Founder – CFO
Scott N Noerr
JT Medical, LLC
Phone: 717-437-0437

E-mail: scott@jtmedical.net

About Sprout AI

To learn more about Sprout AI visit https://www.sproutai.solutions.

Investor Relations Contact
Colleen McKay
Sprout AI Inc.
Tel: + 1 (289) 231-9026
E-mail: cmckay@sproutai.solutions

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.

Wire Service Contact
InvestorWire (IW)
Los Angeles, California
www.InvestorWire.com
212.418.1217 Office
Editor@InvestorWire.com

Data from Sphera’s New Safety Report reveals that even though safety is part of the corporate culture, companies lack a well-defined roadmap to implement safety improvement measures.

CHICAGO, Oct. 28, 2021 (GLOBE NEWSWIRE) — While most companies have embraced safety as part of their corporate culture, there are still hurdles to overcome to improve their process safety and personal safety performance, Sphera’s new Safety Report reveals.

Sphera^®, a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services, surveyed nearly 350 risk, process safety and health and safety professionals. Results show that while 75% of the respondents said that safety is part of their organization’s corporate culture, only 40% said they have a well-defined safety performance roadmap in place.

Safety is the foundation of any strong organization and a key component of ESG. According to Sphera’s Safety Report, creating a safety culture is just as important as being compliant, which has impacted the prioritization of performance safety drivers. Respondents indicated that the top three key safety performance drivers are reducing operational and major accident hazard (MAH) risk exposure (60%), regulatory compliance (48%), and corporate and board priority (37%).

Employer awareness of the safety hazards facing their workforce has been heightened during the pandemic. Over a quarter (27%) of respondents indicated that the adoption of centralized Health and Safety processes is lagging.

For five years, Sphera produced the highly anticipated Process Safety Management/Operational Risk Management (PSM/ORM) report exploring industry trends in process safety and operational risk management. However, with the 2021 report Sphera has expanded the overall safety landscape to include health and safety as well. While the occupational safety and health sector has especially felt pressure, companies across all sectors have had to make constant structural adjustments to keep workers safe.

“The pandemic has highlighted just how quickly safety and risk management processes can be thrown off balance. Safety in all its aspects makes for a resilient and sustainable business model, especially in an era when ESG goals are of the utmost importance,” said Sphera CEO and President Paul Marushka. “An effective safety culture and efficient safety process helps ensure a healthy workforce and enhanced business performance. However, we are still seeing a gap in how companies link safety and business performance, which highlights a need for a more holistic approach through data, software and expertise.”

Additional insights:
This year’s survey shows 51% of respondents pointing to limited resources, 43% to conflicting priorities and 31% to limited budgets as the main obstacles to delivering planned safety-critical maintenance and inspections, which has remained consistent. These leading indicators of the underlying problems preventing organizations from achieving improved safety performance and fewer incidents tie back to the gap between safety intent and safety implementation.

The Sphera Safety Report shows that there is still work to be done implementing risk monitoring practices that address the full spectrum of risks across organizational silos. Additionally, a little over half (56%) of respondents indicated that they still track critical safeguards/barriers manually, such as loss of containment and structural integrity, and a mere 19% said that these safeguards are monitored in real time. This further highlights the stronger ties between process and worker safety that emerged during the pandemic and the need for organizations to have a holistic view of safety and risk management.

About the Safety Survey
Sphera surveyed 349 risk, process safety, and health and safety professionals from a cross-section of global industries from across the world evaluating their safety standards for the 2021 Safety Report. Respondents came from several global industries, such as Manufacturing, Oil and Gas, Chemicals/Petrochemicals, Energy, Construction, Professional Services and Government.

About Sphera
Sphera is the leading provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.

For media inquiries or to request a copy of the report, please contact:
Denise Jones, Marketing Communications Manager, Sphera, djones@sphera.com

SINGAPORE, Oct. 28, 2021 (GLOBE NEWSWIRE) — Following growth in MAR citizenship license sales, TES has won the Microsoft Authorized Refurbisher (MAR) Partner Award for Citizenship & Philanthropy. The award recognizes TES as a MAR partner with positive year-on-year growth in MAR licenses, specifically in the citizenship segment. TES’s programs have helped to support philanthropy, charitable organizations, educational institutions, and work with enterprises to support their CSR programs during the COVID-19 pandemic.

Last year, TES won Microsoft’s Innovation Award, and this latest recognition comes after 100% year-over-year growth in MAR citizenship license sales achieved through the following:

• Partnership with a third-party refurbisher (TPR) for refurbished device leasing and rental during COVID-19 for a vaccination center in Malaysia
• Continuously supporting the citizenship license:
  • PC donations for underprivileged students in Malaysia
    • TES has so far distributed over 18,000 citizenship licenses through its TPR in Malaysia. The objective of this project is to close the digital learning gap for approximately 150,000 primary and secondary school students.
  • Engineering Good in Singapore
    • Working with companies who donate their used laptops, TES refurbishes and distributes them to Engineering Good, which, in turn, distributes those laptops to families who would otherwise not have a device to stay digitally connected.
    • As of May 2021, this initiative has distributed more than 4,000 laptops, with the aim of fulfilling an average of 150-200 PCs each month.
  • Crossroads Foundation in Hong Kong
    • Hong Kong’s Crossroads Foundation has been the recipient of over 3,000 citizenship licenses. Under a global distribution service, the computer processing department receives donated computer hardware from companies and redistributes them to those in need; the aim is to refurbish 100-200 PCs every month.
  • LiteHaus International in Australia
    • This project kick-started in August with a donation of 130 laptops and PCs to two schools in Queensland; the objective is to reach 500,000 students across remote Australia and Papua New Guinea by 2030.
• Extended new engagement for citizenship licenses in the Philippines, Indonesia, Japan, and Taiwan
• Provided support for PC donation project with Microsoft India and Malaysia (subsidiary devices)

Jim Meadowcroft, TES Group Director of Value Recovery/Remarketing: “TES is once again delighted to be recognized as a key Microsoft MAR partner. TES has a long-term commitment to the MAR program as a key part of our strategy to deliver quality digital devices back to those in our communities who need our support to bridge the digital divide.”

Kennedy Goh, Local Devices Lead, Microsoft SEA: “Kudos and congrats to TES, an extension to the sustainability and refurbishment businesses, but also engaging in citizenship projects worldwide. An initiative to contribute back to society while bringing the benefits of genuine Windows and Office to the needy, too.“

The MAR program ensures that end customers are presented with a high-quality, professionally refurbished device installed with genuine Microsoft Windows software — free of defects, malware, and viruses that could negatively impact their privacy and security.

This supports TES’s commitment to making a decade of difference to securely, safely, and sustainably transform and re-purpose 1 billion kgs of assets by 2030.

About TES – www.tes-amm.com

Since our formation in 2005, TES has grown to become a global leader in sustainable technology services and bespoke solutions that help clients manage the commissioning, deployment, and retirement of technology devices and components.

We provide comprehensive services for technology devices throughout their lifecycle — from deployment to decommissioning to disposition — all the way through to recycling and end-of-life repurposing.

We have made it our mission to make a decade of difference by securely, safely, and sustainably transforming and re-purposing 1 billion kgs of assets by 2030. Our 42 owned facilities across 21 countries offer unmatched service-level consistency, consistent commercials, lower logistics costs, local compliance experts in-region, support in local time zones and languages, and a deep understanding of transboundary movement globally.

TES creates outstanding value for our clients, employees, stakeholders, and the global community by leveraging a unique combination of security, value recovery, and environmental expertise. We focus exclusively on eliminating the risks surrounding data security, compliance, and environmental impact while maximizing value recovery for businesses around the world.

Email us at newsletter@tes-amm.com or visit our website for more information.

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The partnership comes after long-standing cooperation between the companies, allowing both leaders to meet the growing needs of global OEMs and Tier-1s even more effectively.

HELSINKI, Oct. 28, 2021 (GLOBE NEWSWIRE) — Tuxera Inc., a market leader in data storage management software and networking technologies, today announced its partnership with Telechips, a leading automotive system on chip (SoC) supplier for in-vehicle infotainment (IVI) and cockpit solutions. The organizations are working together to address the growing global demand for advanced IVI and cockpit systems. The partnership allows for strong technical information sharing between Tuxera and Telechips, empowering cutting-edge automotive solutions development. Tuxera’s quality-assured embedded file systems will optimize the performance and reliability of Telechips’ advanced automotive chipsets.

A leading chipset maker in the global connected vehicle market
Telechips is a leading producer of Arm-based chipsets for automotive systems. As the top semiconductor provider for the automotive industry in Korea, and with an approximate 10% global market share in the industry, the company plays an important role in the worldwide IVI and cockpit market. Telechips is also active in reinforcing the smart automotive ecosystem through developing international partnerships.

The advanced automotive solutions of Telechips include integrated cockpit systems, head-unit displays (HUD), IVI systems, microcontrollers, SoCs, and more.

Driving next-generation automotive solutions through cooperation
Telechips and Tuxera both have extensive experience in cooperating with global Tier-1 suppliers in Korea. The companies have engaged in multiple joint projects together, building up shared expertise and mutual trust for more than five years. Together, they have initiated the development of next-generation solutions aimed at providing improved support for global OEMs and Tier-1 automotive suppliers. Telechips and Tuxera are committed to developing and implementing solutions not only in IVI, but also in next-generation technologies like automotive microcontrollers (MCUs) and neural processing units (NPUs).

This reinforced cooperation will enable Telechips’ high-performance automotive cockpit and audio processors – on Linux®, Android^TM, or QNX® – to experience even greater reliability and responsiveness through Tuxera’s failsafe file system solutions, like GravityCS by Tuxera^TM and the Tuxera Reliance^TM family.

“We are really happy with this partnership. By working closely with Telechips, we are helping to meet the performance and reliability needs of advanced automotive systems worldwide,” says Rey-Yue Chien, Key Account Manager in Automotive at Tuxera. “Our storage solution experts work close with the hardware. In working with Telechips, we can adapt our solutions to optimize the performance and fail-safety of the Telechips hardware – allowing our customers to get the absolute most out of Telechips’ cutting-edge chipsets.”

“We are grateful that Telechips has the opportunity to partner with Tuxera. Telechips believes the cooperation with Tuxera will help develop the performance and reliability of automotive systems and expand the market in Europe,” says Stanley Kim, Business Unit Leader at Telechips. By cooperating with Tuxera, Telechips secures a fail-safety solution partner, which will reinforce customer confidence in the company’s solutions.

About Telechips
Telechips Inc. has been successful in the Automotive industry with its application processors and communication ICs. Telechips automotive AP is expanding applications from In-Vehicle Infotainment to the cockpit system with its advanced, secure and power efficiency. Telechips provides chipsets with a development environment including reference H/W design, and platforms with its partners that help Tier-1s and OEMs develop efficiently. Telechips has constantly invested for advanced technologies like ADAS and AI in the auto industry to outperform the solutions available in the market.

For more information, visit

http://www.telechips.com

http://www.facebook.com/telechips.inc

http://www.linkedin.com/company/telechips-inc

About Tuxera
Tuxera is the leading provider of quality-assured embedded storage management software and networking technologies. Helping people and businesses store and do more with their data, our software is at the core of phones, tablets, cars, TV sets, cameras, drones, external storage, routers, spacecraft, IoT devices, and more. We help you store your data reliably while making file transfers fast and content easily accessible. Tuxera is also an active member of multiple industry organizations, including JEDEC, SNIA, AGL, SD Association, The Linux Foundation, and many others. Founded in 2008, Tuxera’s headquarters are located in Finland, with regional offices in China, Germany, Hungary, South Korea, Japan, Taiwan, and the U.S. Learn more at www.tuxera.com

Media Contact:
Bianca D’Angelo
(203)577-7588 (Direct)
bianca@newswire.com
www.Newswire.com

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DENVER, Oct. 28, 2021 (GLOBE NEWSWIRE) — SeeUnity – An Anaqua Company, the leading provider of Application Programming Interface (API)-based content integration and migration solutions for on-premise and cloud-based Enterprise Content Management applications, today announces the release of a significant Echo Content Synchronization (Echo) product enhancement supporting events-driven synchronization via webhooks. This capability is less resource intensive and expedites the notification of content and metadata changes from cloud-based systems to another application, delivering real-time data updates to users.

Echo is a robust content synchronization engine that enables organizations to securely connect and sync data between a document management system and other external applications via API. Echo can sync content and content changes in one direction or bi-directionally on an ongoing and scheduled basis, allowing users to collaborate and access up-to-date content anywhere.

Using webhooks provides an alternative method for syncing data between applications. Webhooks deliver data over the web as changes (events) happen, versus relying on numerous API call requests for changes. API rate limits are often found with cloud-based systems, causing delays and bottlenecks. For customers that require frequent, numerous, and timely data updates, this means they’ll receive the information much faster and more efficiently utilizing webhooks.

“A full Echo API scan is still run periodically to catch events that may have been missed for normally occurring situations, such as internet glitches, downed systems, or database errors,” commented Dan Hunsinger, CTO at SeeUnity. “The combination of webhooks, with the full scan safety net, creates a solid, efficient, and reliable integration.”

Gene D’Aversa, Sr. Director of Knowledge Management & Technology Innovation, IT Department Husch Blackwell: “The adoption of cloud-based applications in the industry continues to rise, and with that comes its own set of intricacies for system integration and content synchronization. SeeUnity invests in the product enhancements and functionalities that meet market challenges and help support enterprise agility. Over the years, we’ve partnered with SeeUnity in an effort to continually modernize and streamline our IT ecosystem, providing our users with more efficient processes. The ROI impact of leveraging these integrations is significant, ultimately benefits our customers, and contributes to our success.”

The Echo webhook sync option for Microsoft 365 and Filevine is immediately available. The capability is being expanded to other cloud-based systems.

About SeeUnity – An Anaqua Company

SeeUnity has led the way in providing API-based enterprise content integration and migration solutions for legal tech and beyond since 2004. We’ve helped over 500 customers and 30 global partners streamline workflow processes, enable secure collaboration, and maintain Information Governance. Our 30+ connectors support most ECM, CRM, IPM, collaboration, and file sharing systems. Now an Anaqua company, SeeUnity has an even greater ability to accommodate expanding IT ecosystem connectivity needs. New connectors under development include: HR, Legal Matter Management, and finance systems. For a complete list of connectors or additional information, please visit https://seeunity.com, Twitter @SeeUnity or LinkedIn.

Press Contact
Jo Becker, Director of Marketing, SeeUnity
jbecker@anaqua.com | +1 970 776-8318

PDF available at: http://ml.globenewswire.com/Resource/Download/6f1dc9d9-6f16-40ed-984e-b550d3813794

October 28, 2021

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that, with the release of new device drivers that enable integration and interoperability, Philips Capsule Medical Device Information Platform (MDIP) has exceeded the milestone of integrating with more than 1,000 unique medical device models. Philips Capsule MDIP, which will be integrated into Philips HealthSuite Platform, is now installed in more than 3,000 healthcare facilities globally. Philips Capsule MDIP captures streaming clinical data and transforms it into actionable insights for patient care management aiming to improve collaboration between care teams, streamline clinical workflows, and increase productivity.

Since the early 2021 acquisition of Capsule Technologies, Philips continues to expand its medical device connectivity by adding device drivers to the industry-leading enterprise device integration platform. With these new device drivers, which enable Philips Capsule MDIP to interface with a variety of medical devices and access their data, customers can connect more devices and systems to advance health systems’ digital transformation with intelligent, vendor-agnostic tools that turn complex data in to actionable insights. Drivers are developed in collaboration with device manufacturer partners as well as at the request of individual hospitals and health systems.

“The 1,000+ device connectivity milestone serves as testament to Philips Capsule MDIP’s capabilities that support the data digitalization needs of today’s healthcare providers,” said Elad Benjamin, general manager of Clinical Data Services at Philips. “We are proud to continually work with our customers to enable more hospitals and systems to experience the benefits of medical device data integration.”

Without a vendor-neutral solution like Philips Capsule MDIP, hospitals may have to turn to customized medical device integration (MDI) solutions, which can be expensive and time-consuming to develop and implement. Such proprietary solutions also often limit integration and interoperability options to a smaller range of technologies, systems, and suppliers, resulting in the need to maintain and support multiple MDI systems. Philips Capsule MDIP eliminates the need for multiple MDI solutions by offering a comprehensive and scalable device integration platform.

Philips Capsule MDIP can enable providers to utilize device data for electronic health record (EHR) documentation, clinical surveillance, decision support, and research. Device data streamed to a virtual ICU workstation can be processed and analyzed to detect emergent patient conditions and generate actionable alerts, helping to reduce the alarm fatigue that can contribute to clinician burnout. Caregivers using decision support applications at the point of care can benefit from having more comprehensive information available for evaluation. While researchers can thoroughly test and verify the effectiveness of clinical methods, procedures, and treatments.

For further information, please contact:

Meredith Amoroso
Philips Global Press Office
Tel: +1 724-584-8991
E-mail: meredith.amoroso@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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Vietnam, Oct. 28, 2021 (GLOBE NEWSWIRE) — Vietnam is the first country in the world to routinely use an innovative method to diagnose tuberculosis (TB) using stool. The Simple One-Step Stool Method, developed by KNCV Tuberculosis Foundation, is implemented in 10 healthcare facilities across the country. ,,This simple and painless test is an important development for diagnosing TB in children under the age of five and people living with HIV. This can save many lives and reduce suffering”, says Prof. Dr. Nguyen Viet Nhung, Director of the National Lung Hospital and Head of the Vietnam National Tuberculosis Control Program (NTP).  

In Vietnam 170,000 people get ill and 11,400 people die of TB every year, according to WHO estimates. Although all new born babies are vaccinated against TB, some of them still acquire TB. And even though TB is a curable disease, still many adults and children lose their lives.

,,The early diagnosis of child tuberculosis for treatment only accounts for 10% of the total cases of child tuberculosis”, says Prof. Dr. Nguyen Viet Nhung.  “Child tuberculosis is a difficult disease. Its symptoms are hard to find especially with the under 5-year-old children and acquiring a diagnosis faces many difficulties.”

To raise the number of children being diagnosed and treated in time, the NTP decided to start an implementation pilot – financed by the Global Fund – with the KNCV Simple One-Step (SOS) Stool Method. This turned out to be very successful and made the NTP decide to continue working with the SOS Stool Method routinely.

The WHO has very recently recommended the use of stool as a primary sample for TB diagnoses in children. The Pediatric TB Operational Sustainability Expertise Exchange (POSEE) Taskforce also describes the benefits of using stool to diagnose TB.  As the SOS Stool Method is published in the peer reviewed Journal of Clinical Microbiology, many other countries are expected to follow Vietnams example and use this method.

SOS Stool Method: Painless and simple diagnosis

Worldwide, sputum from the lungs is currently mainly used as a sample to diagnose TB. However, it can be very difficult for many people living with HIV and children to cough up sputum. For very young children it is completely impossible on command. For that reason, an invasive and painful procedure is necessary – for example a tube passed through the child’s nose to the stomach – to collect a sputum sample.

“These invasive methods are often traumatizing for the children, parents and healthcare workers. Materials for these procedures are not available everywhere and sometimes it is only done when the child is already very ill. This results in many children worldwide not being diagnosed or being diagnosed too late”, explains Mustapha Gidado, executive director of KNCV Tuberculosis Foundation (KNCV). “This is one of the main reasons why 170.000 children die of TB every year. Unnecessary, because with a timely diagnosis and good treatment, TB can be cured.”

A stool sample is painless and easy to obtain from children. KNCV laboratory experts dove into the matter and developed the SOS Stool Method, that was first presented during the Union World Conference in 2018. Extended research – such as head-to-head comparisons with other stool processing methods (FIND and TB Speed study) and the cost effectiveness of the SOS Stool Method (SOS-TBIM study) – have since be done. The results and scientific publications will follow this fall 2021, as well as presentations at the Union World Conference 2021.

Training and implementation

KNCV Tuberculosis Foundation provides online training courses for laboratory staff, so that all countries can start using this method for diagnosing TB in children and people living with HIV. Vietnam sets an example of how this can be done successfully on all levels.

Dr. Nguyen Thien Huong, KNCV Country Representative in Vietnam: “The same machine that is used to examine sputum – the GeneXpert – is used in the SOS Stool Method and no other materials are needed. In Vietnam, the GeneXpert systems are equipped nationwide from central to provincial and district levels. To train staff on how to use it for stool samples is a small step. While the difference for the lives of the affected children and people living with HIV, their families and the communities is immense.”

SOS Stool Method: no more suffering for baby Dang 

Vietnamese Thao, mother of the baby boy Dang (pictured above), knows from her own experience how big the difference between the painful sputum method and the painless KNCV SOS Stool Method is. Her son was only three months old, when he underwent both procedures. “In the first hospital where he was tested, they only used the sputum test. Witnessing how the doctors collected sputum from him was really painful. They had to push a tube through his mouth to his stomach.” They tested the boy three times, but all results were negative. Eventually he was referred to the National Lung Hospital, where a sputum and stool test were done. Both tests turned out positive for TB. It made Thao and her husband cry to hear the diagnosis, but their boy is now under treatment and recovering well. Thao: The SOS Stool Method made my son’s diagnosis and treatment much more accurate and easier. Read the full story of baby boy Dang here.

More information on the SOS Stool Method can be found here.

Attachments

• The early diagnosis of child tuberculosis for treatment only accounts for 10% of the total cases of child tuberculosis.
• KNCV SOS Stool Method 

Maya van Tol
KNCV Tuberculosis Foundation
maya.vantol@kncvtbc.org

Lilian Polderman
KNCV Tuberculosis Foundation
Lilian.polderman@kncvtbc.org

Dr. Nguyen Thien Huong
KNCV Tuberculosis Foundation Vietnam
huong.nguyen@kncvtbc.org

Utilizing the knowledge gained from creating the world’s first Globally valid Digital currency and Clearing System, Webtel.mobi describes the exact primary requirements for a Global Digital Currency and Clearing System, and how external entities may contact it for assistance

NEW YORK, Oct. 28, 2021 (GLOBE NEWSWIRE) — Although 2021 has seen increased activity in the field of international discussion and planning in respect of CBDC development, the discussions and views are both diverse and divergent from each other. There is no central guiding point, and there are significant differences of opinion between the end-aims and objectives of CBDCs.

However, to ever be able to develop any system or product, there should first be clarity on what the end-results and requirements should be, and one should then work backwards to establish what should be done, how, and with what, to reach the end-objective. Only then can any meaningful and measurable progress be made towards achieving the end-objective.

When creating its system, Global Telephony Provider Webtel.mobi (“WM”) first took the time to establish the end-objectives with clarity, worked back from that point to establish the requirements for reaching the end-objective, and then took the time to create the required systems, facilities, and platforms in a fit-for-purpose manner.

There are no easy or quick routes for reaching this particular end-objective, and there is no “new” magic wand product to make it happen any more easily. The same requirements for systematic and steady identification and resolution of requirements that present themselves in any highly complex business or financial situations are called for.

To clarify what is required if creation of a Globally-Valid Digital Currency – and a Global Clearing System which must precede the Digital Currency – is being sought, some of the requirements (based on knowledge and fact, as WM has already created a Global Clearing System and Globally-Valid Digital Currency) are as follow:

A Global Deliverability and Accessibility System
By which to deliver – and for people to access – the Digital Currency. It cannot be a prevailing system because they exclude the 60% of people in high-cost and low-speed internet bandwidth / mobile-data countries, and the 50% of people worldwide using pre-smartphones. It will have to be custom-built.

A Global Account Number System
From which to carry out, or into which to receive, any receipts, transfers, payments, conversions or storage for a particular person or entity, on an automated basis. Given the complexity (and replication) of names globally, the disparity in standards and address formulations, this is not a trivial task.

A Global Multicurrency Wallet System
Into which multiple different currencies can be loaded and stored, where payments or transfers can be accepted or sent from, and between which conversions between currencies can be made.

A Global KYC and AML System
That is of one (high) standard worldwide, catering for multiple global differences in address and utility bill configurations, that has Attorney or Notary certification + Attorney + notary re-verification + verifications of attorneys or notaries + constant monitoring of transactions for various and multiple warning signs + documentary upload for transactions + transaction limits.

A Global Transfer System
That facilitates the automated transfer of all and any currencies, in all and any amounts, from one specific account to another specific account, worldwide 24/7/365, with multiple reporting and with failsafe mechanisms built-in.

A Global Payment System
That facilitates the automated transfer of all and any currencies, in all and any amounts, from one specific account to another specific account, worldwide 24/7/365, with multiple reporting and with failsafe mechanisms built-in. The equipment to make payments from, and receive payments into, must also be set up – and function globally in very different environments. It cannot be a system that has smartphone-only application, or which is run from a mobile app, or which has JavaScript in it.

A Global Currency Conversion System
That enables not just 24/5/365, but rather 24/7/365 immediate actual conversion capacity (otherwise currency risk is extreme), from, to and between all currencies – without the requirement for currency pair conversions or conversion from a soft currency first into a reserve currency and then conversion to another soft currency.

A Global Payment-versus-Payment (PvP) and Real Time Gross Settlement (RTGS) System
This is an absolute requirement – and it must be 100% and immediate PvP / RTGS – because otherwise the risk of systemic failure is extreme (for example, even the current legacy systems function in a state of perpetual danger, because it is estimated by the BIS that approximately 50% of all FX transactions are unsecured).

A Global Recording and Reporting System
For every single transaction, transaction type, individual balances, system balances, account alterations and all and any of the (hundreds of) data inputs or alterations. This to be retained by the system and automatically provided to the transacting parties and automatically checked for inconsistencies / suspicious events.

A Global Customer Support System
From both technical and customer-support perspectives (i.e. having physical people present at a physical premises), in all parts of all countries worldwide.

A Global System to Accept and Convert Cash (safely)
Unless one wishes to exclude 60% of the world’s population that transact only in cash due to choice or – more frequently – due to lack of infrastructure to accept or transact in any other medium of exchange, a system to accept and convert cash into digital funds – with safeguards to prevent money laundering which can be applied worldwide despite the disparity in global norms and standards – must be created.

A Global Multi-Factor Authentication and an additional +/- 30 Security Systems
Every transaction must have multi-factor authentication and at least 30 other security systems – that include systemic and owner confirmations – must be created and implemented.

A Global Troubleshooting System
A global troubleshooting system must be created to instantly locate and redress any issues arising on any one of the (thousands of) sub-systems. It should be able to instantly follow all transactions’ flows from their inception, and have the capacity to freeze, cancel or reverse them, if necessary, from cradle to grave.

The above systems are only one-third of those that must be created – but they are among the most important. Each requires from 20 to over 200 sub-systems to function. All of them must be integrated into one system, and inter-connected to each other (systems and sub-systems).

The integrated systems and sub-systems must be built according to specific system architectures, and located in multiple countries for failsafe continuation of service and prevention of data loss in the event of failure due to natural or other disaster. They must also be able to seamlessly integrate / function with existing Legacy Systems.

The above comprises only the front-end systems. They exclude the back-end system, which is hundreds of times more complex than the front end. Very many of these absolute prerequisites do not yet even form part of the current discussions by other parties in their quests to develop a Global Digital Currency or CBDC.

All of the above systems include WM’s Blockchain ++ and Distributed Ledger++ – but only as very basic sub-parts of the systems’ structure. The other requirements are far more numerous, sophisticated and complex.

Once creation of the Global Clearing is completed – and only then – can one create the Global Digital Currency. The Currency must be built to work in the System, because a System cannot be built to work around a currency in a back-to-front process.

The Global Digital Currency must be:

• A liquid store of value, unit of account, medium of exchange that is acceptable as a standard of deferred payment, which has a stable value.
• That is recognizable, identifiable, acceptable, transferable, divisible, consolidateable, transferrable, convertible between currencies, fungible, portable, durable, homogenous per currency, non-counterfeitable, and with other security components.
• That can be utilized for all basic transactions requiring the use of a medium of exchange, and can also be utilized for all sophisticated, structured finance or structured instrument transactions requiring the use of structured mediums of exchange.
• That can also be converted back into “Bank Money” or cash (and with WM’s impending “Secured TUV” – can be converted to Physical Gold, and with WM’s Impending “Smart TUV”, that can be programmed).

To complete the construction of one component System of a Global Clearing System can take up to a year (regardless of resources, as there is much to do, carefully, and it takes time) – and there are many component Systems within a Clearing System.

After the completion of a required Global Clearing System, to then complete the creation of the Digital Currency will be similarly time-consuming. This is because – although this is not yet realized by the parties discussing such matters – every aspect of the Clearing System itself has to be built into the actual Digital Currency (unseen – operating in the back-end). Although this process is more rapid because one is working from the existing Clearing System, it is, nevertheless, also extremely time-consuming, with attention to detail required.

WM’s Global Digital Currency and Global Clearing System are completely built, tested and proven worldwide, due diligenced, refined, re-reviewed and are fully operational globally. To replicate such a system will take many years to do – even if one is provided with the complete roadmap of precisely what to do.

Consequently, WM is very confident of its position – to the extent that it will willingly assist any credible organization by providing comments and observations if they would like to make enquiries, as there is absolutely no possibility of any challenge to WM’s system for many years to come. Indeed, WM has already been contacted by representatives of some Central Banks with propositions for collaboration on these matters.

While WM is prepared to provide assistance to other credible entities on these matters, it follows a specific methodology for providing such assistance, for the following reasons:

1. It is not yet realized by the various entities striving to attain the goal of a Global Digital Currency what extraordinary capacity reaching the attainment of such a situation brings about.
2. In the first instance, it provides access to every single market where every medium of exchange is used in every currency and every country worldwide – from the smallest cash transactions to the largest Global Settlement and Global FX markets – and everything in-between. Moreover, it grants this access to provide replica services to all others at much lower costs, much higher speeds and much more security – so it has the potential to secure whole parentages of global money flow. The commercial and financial potential is extraordinary, and has not yet been able to be achieved in commercial history to date – until now, with WM being the first company to achieve it.
3. If misused, it also has the capacity to introduce destabilizing factors on a systemic basis. Therefore, extreme restraint and care must also be applied – as WM has done at all times, and as it continues – and will continue – to apply.
4. One of the requirements for a company with such an overwhelming product is to adopt an absolutely neutral, non-aligned and transparent posture in respect of all activities – including the provision of advice or assistance. This is to prevent any alarm or agitation arising from certain countries / Central Banks / other entities – once they realize what the capacities of such a system are – that rival countries / Central Banks / other entities may be gaining this advantage over them.

Consequently, WM will provide advice and assistance to any credible entities, if:

• Any such credible entities then openly and publicly disclose that they are interacting with WM in respect of these matters.
• The entities accept that WM will not enter into sole agreements or closed collaborative association with them, and that any other entity will receive equal assistance from WM if it is requested at any time.

If credible entities are agreeable to these terms, WM will assist them in any manner. If not, WM will unfortunately not be able to assist them.

Resources:

Media Contact:
Nick Lambert: wm@thoburns.com

Article on WM’s Global Clearing System by Professor Dimitri Papadimitriou of the Levy Economics Institute:
https://webtel.mobi/media/info/digital-currencies-and-instability-in-the-international-financial-system.pdf
https://www.kathimerini.gr/economy/561412582/psifiaka-nomismata-kai-astatheia-sto-diethnes-chrimatopistotiko-systima/

Comments on the WM System’s Capacities by Professor Jan Kregel of the Levy Economics Institute:
https://youtu.be/XYBrCikUhn8

Research Papers on WM’s Global Clearing System and TUV Digital Currency:

• Another Bretton Woods Reform Moment: Let us Look Seriously at the Clearing Union
  http://www.levyinstitute.org/pubs/ppb_154.pdf

• Keynes’s Clearing Union is Alive and Well and Living in your Mobile Phone
  http://www.levyinstitute.org/pubs/pn_21_1.pdf

• Money and Credit: Potential Expansion of the WM System
  https://webtel.mobi/media/info/money-and-credit-potential-expansion-of-the-wm-system-april-2021.pdf

• New Dimensions for the TUV in the Webtel.mobi System
  https://webtel.mobi/media/info/new-dimensions-for-the-tuv-in-the-webtelmobi-system.pdf

• The Economic Problem: From Barter to Commodity Money to Electronic Money
  https://www.levyinstitute.org/pubs/wp_982.pdf

Media Articles on WM:
https://webtel.mobi/info/current-media/

Characteristics of WM’s TUV Digital Currency:
https://webtel.mobi/info/tuv-characteristics

WM’s “Secured TUV” Digital Currency:
https://webtel.mobi/info/my-secured-tuvs

WM’s “Smart TUV” Digital Currency:
https://webtel.mobi/info/my-smart-tuvs

WM’s urls:
https://webtel.mobi/pc (Tablets / Laptops / Desktops)
https://webtel.mobi (Smart Phones)
https://webtel.mobi/wap (Pre-Smart Mobile Phones)

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0fee72fa-46f5-4761-9328-81b4e71c6f58

• Business aircraft revenues of $1.4 billion, up 17% year-over-year, mainly driven by an improved delivery mix and continued strong aftermarket recovery as overall fleet flight hours surpass 2019 levels.
• Adjusted EBITDA⁽¹⁾ of $142 million (9.8% adjusted EBITDA margin⁽¹⁾), representing a year-over-year improvement of $58 million or 69% reflecting continued progress on the Global 7500 aircraft’s learning curve, cost structure improvements and an improved delivery mix. Reported EBIT from continuing operations for the quarter was $48 million.
• Strong free cash flow⁽¹⁾ generation of $100 million from continuing operations, representing an improvement of $747 million year-over-year. Reported cash flows from operating activities – continuing operations for the quarter was $156 million and net additions to PP&E and intangible assets – continuing operations for the quarter were $56 million.
• Third quarter unit book-to-bill⁽²⁾ of ~1.7 and increased backlog by ~$500 million to $11.2 billion on account of continued strong order momentum.
• Major milestone in deleveraging plan achieved with the redemption of debt maturities to December 2024, representing a total debt reduction of ~$3 billion since the beginning of 2021.
  Pro-forma liquidity⁽³⁾ remains strong at $1.9 billion.

All amounts in this press release are in U.S. dollars unless otherwise indicated.
Amounts in tables are in millions, unless otherwise indicated.

MONTREAL, Oct. 28, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today its financial results for the third quarter of 2021. The company is pleased with continued execution on its strategic initiatives, cash flow generation and order momentum driving the financial results of the quarter. Bombardier also highlighted that during the third quarter, the company redeemed debt maturities through December 2024, a major milestone in its deleveraging plan.

“The Bombardier team once again delivered a solid quarter, a confirmation that this year is shaping up to be significantly better than the last,” said Éric Martel, President and Chief Executive Officer, Bombardier. “Our unit book-to-bill ratio remains very healthy, contributing to a significant increase to our backlog. This momentum has also translated to a solid increase in profitability, with adjusted EBITDA margin approaching 10% this quarter.”

“We are delivering consistently on what we set out to do, especially when it comes to deleveraging the balance sheet. Thanks to the hard work of our outstanding team, we cleared the debt maturity runway on plan,” added Martel. “As a fantastic finale to the quarter and at a great moment in time for our industry, we launched our new Challenger 3500 jet last month. The extremely positive reception and strong first orders for the new aircraft are clear evidence that we were able to bring significant value to customers through measured and disciplined investments.”

Third Quarter 2021 Financial Performance

Business jet revenues of $1.4 billion are up 17% year-over-year, propelled mainly by an improved delivery mix, with higher deliveries of large aircraft. The company has also seen an increase of revenues by $76 million from business aircraft services. This is mainly due to increased fleet flight hours having now surpassed 2019 levels, a clear signal that the industry is on a strong recovery path from the global shock caused by the COVID-19 pandemic. Confidence levels within the industry are at a new all-time high, indicative of the rising vaccination levels and eased travel restrictions. In the U.S., business jet utilization increased by 42.5%, year-over-year for the first eight months of the year. In Europe, business jet utilization increased by 27.1% year-over-year in the first nine months of the year.

Bombardier reported an adjusted EBITDA of $142 million, representing a year-over-year improvement of $58 million or 69%. The company attributes this to an improved aircraft mix, continued progress on Global 7500 aircraft learning curve, and cost structure improvements. Reported EBIT from continuing operations for the quarter was $48 million.

For the second consecutive quarter, the company is seeing an improved free cash flow (FCF) generation. FCF of $100 million from continuing operations represents an improvement of $747 million year-over-year. The positive result is mainly due to stronger order intake and better payment terms on new orders. Reported cash flows from operating activities – continuing operations for the quarter was $156 million, and net additions to PP&E and intangible assets – continuing operations for the quarter were $56 million.

Major Milestone Achieved with the Clearing of Debt Maturities Through December 2024

The Corporation reported a total debt reduction of approximately $3 billion since the beginning of 2021, and cleared, through redemption or refinancing, debt maturities through December 2024. This represents a major milestone in one of Bombardier’s key priorities this year, as it creates a runway to focus on its operations and stabilizes the need for liquidity. Pro-forma liquidity remains strong at $1.9 billion.

Successful launch of the Challenger 3500

As the third quarter wrapped up, the company introduced a major update to its bestselling Challenger 350 platform, the Challenger 3500. The new aircraft represents a culmination of a period of important product development that saw Bombardier introduce innovative technologies and industry-leading new products and services.

With a redesigned interior that includes Bombardier’s patented Nuage seat as part of the aircraft’s standard configuration and the industry’s first voice-controlled cabin, the new Challenger 3500 further elevates the cabin experience to meet the increasing customer expectations. The enthusiastic welcome that the mock-up of the aircraft received at the first post-pandemic National Business Aviation Association event earlier this month is a first confirmation of this, as is a 20 aircraft firm order announced in the third quarter.

Flight testing and certification activities for the Challenger 3500 is progressing on schedule for an expected entry into service in the second half of 2022.

SELECTED RESULTS
Results of the Quarter
Three-month periods ended September 30	2021					2020					Variance
						restated(4)
Revenues(5)	$	1,449				$	1,405				3			%
Adjusted EBITDA(5)	$	142				$	84				69			%
Adjusted EBITDA margin(5)	9.8			%		6.0			%		380 bps
Adjusted EBIT(1)(5)	$	49				$	(11	)			nmf
Adjusted EBIT margin(1) (5)	3.4			%		(0.8		)	%		420 bps
EBIT(5)	$	48				$	(29	)			nmf
EBIT margin(5)	3.3			%		(2.1		)	%		540 bps
Net loss from continuing operations	$	(376	)			$	(24	)			(1,467		)	%
Net income (loss) from discontinued operations	$	(1	)			$	216				nmf
Net income (loss)	$	(377	)			$	192				nmf
Diluted EPS from continuing operations (in dollars)	$	(0.16	)			$	(0.01	)			$	(0.15	)
Diluted EPS from discontinued operations (in dollars)	$	—				$	0.06				$	(0.06	)
	$	(0.16	)			$	0.05				$	(0.21	)
Adjusted net loss(1) (5)	$	(95	)			$	(210	)			55			%
Adjusted EPS (in dollars) (1) (5)	$	(0.04	)			$	(0.09	)			$	0.05
Cash flows from operating activities
Continuing operations	$	156				$	(611	)			nmf
Discontinued operations	$	—				$	(33	)			100			%
	$	156				$	(644	)			nmf
Net additions to PP&E and intangible assets
Continuing operations	$	56				$	36				56			%
Discontinued operations	$	—				$	26				(100		)	%
	$	56				$	62				(10		)	%
Free cash flow (usage)
Continuing operations	$	100				$	(647	)			nmf
Discontinued operations	$	—				$	(59	)			100			%
	$	100				$	(706	)			nmf
As at	September 30, 2021					December 31, 2020					Variance
Cash and cash equivalents excluding Transportation	$	1,380				$	1,779				(22		)	%
Cash and cash equivalents from Transportation	$	—				$	671				(100		)	%
	$	1,380				$	2,450				(44		)	%
Available short-term capital resources(6)	$	1,380				$	3,203				(57		)	%
Aviation order backlog (in billions of dollars)
Business aircraft(7)	$	11.2				$	10.7				5			%

About Bombardier

Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of over 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Visit the Bombardier Business Aircraft website for more information on our industry-leading products and services.

Bombardier, Global, Global 7500, Challenger, Challenger 350 and Challenger 3500 are trademarks of Bombardier Inc. or its subsidiaries.

For Information

Francis Richer de La Flèche	Anna Cristofaro
Vice President, Financial Planning and Investor Relations	Manager, Communications
Bombardier	Bombardier
+1 514 855 5001 x13228	+1 514 855 8678

The Management’s Discussion and Analysis and the Interim Consolidated Financial Statements are available at ir.bombardier.com.

bps: basis points
nmf: information not meaningful
(1)	Non-GAAP financial measures. Refer to the Non-GAAP financial measures section in Overview for definitions of these metrics and to the Analysis of consolidated results section and Liquidity and capital resources section in Overview for reconciliations to the most comparable IFRS measures.
(2)	Defined as net new aircraft orders in units over aircraft deliveries in units.
(3)	Non-GAAP measures. Pro-forma liquidity is defined as cash and cash equivalents as at September 30, 2021 of $1.4 billion plus $0.5 billion of short-term restricted cash as collateral for bank guarantees.
(4)	Restated for the sale of Transportation, refer to Note 17 – Disposal of business to our Interim consolidated financial statements for more details.
(5)	Includes continuing operations only.
(6)	Defined as cash and cash equivalents as at September 30, 2021; defined as cash and cash equivalents including cash and cash equivalents from Transportation plus the undrawn amounts under Transportation’s revolving credit facility and our senior secured term loan as at December 31, 2020.
(7)	Includes order backlog for both manufacturing and services.

CAUTION REGARDING NON-GAAP FINANCIAL MEASURES

This press release is based on reported earnings in accordance with IFRS and on the following non-GAAP financial measures:

Non-GAAP financial measures
Adjusted EBIT	EBIT excluding special items. Special items comprise items which do not reflect the Corporation’s core performance or where their separate presentation will assist users of the consolidated financial statements in understanding the Corporation’s results for the period. Such items include, among others, the impact of restructuring charges, impact of business disposals and significant impairment charges and reversals.
Adjusted EBITDA	Adjusted EBIT plus amortization and impairment charges on PP&E and intangible assets.
Adjusted net income (loss)	Net income (loss) excluding special items, accretion on net retirement benefit obligations, certain net gains and losses arising from changes in measurement of provisions and of financial instruments carried at FVTP&L and the related tax impacts of these items.
Adjusted EPS	EPS calculated based on adjusted net income attributable to equity holders of Bombardier Inc., using the treasury stock method, giving effect to the exercise of all dilutive elements.
Free cash flow (usage)	Cash flows from operating activities less net additions to PP&E and intangible assets.

Non-GAAP financial measures are mainly derived from the consolidated financial statements but do not have standardized meanings prescribed by IFRS. The exclusion of certain items from non-GAAP performance measures does not imply that these items are necessarily non-recurring. Other entities in our industry may define the above measures differently than we do. In those cases, it may be difficult to compare the performance of those entities to ours based on these similarly-named non-GAAP measures.

Adjusted EBIT, adjusted EBITDA, adjusted net income (loss) and adjusted EPS

Management uses adjusted EBIT, adjusted EBITDA, adjusted net income (loss) and adjusted EPS for purposes of evaluating underlying business performance. Management believes these non-GAAP earnings measures in addition to IFRS measures provide users of our Financial Report with enhanced understanding of our results and related trends and increases the transparency and clarity of the core results of our business. Adjusted EBIT, adjusted EBITDA, adjusted net income (loss) and adjusted EPS exclude items that do not reflect our core performance or where their exclusion will assist users in understanding our results for the period. For these reasons, a significant number of users of the MD&A analyze our results based on these financial measures. Management believes these measures help users of MD&A to better analyze results, enabling better comparability of our results from one period to another and with peers.

Free cash flow (usage)

Free cash flow is defined as cash flows from operating activities less net additions to PP&E and intangible assets. Management believes that this non-GAAP cash flow measure provides investors with an important perspective on the Corporation’s generation of cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long-term value creation. This non-GAAP cash flow measure does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity generation.

Reconciliations of non-GAAP financial measures to the most comparable IFRS financial measures are provided in the table hereafter, except for the following reconciliations:

• adjusted EBIT to EBIT – see the Consolidated results of operations section; and
• free cash flow usage to cash flows from operating activities – see the Free cash flow usage table in the Liquidity and capital resources section.

Reconciliation of adjusted EBITDA to EBIT(1)
	Three-month periods  ended September 30						Nine-month periods  ended September 30
	2021			2020			2021			2020
EBIT	$	48		$	(29	)	$	103		$	479
Amortization	93			95			298			247
Impairment charges on PP&E(2)	—			6			3			25
Special items excluding impairment charges on PP&E(2)	1			12			4			(550		)
Adjusted EBITDA	$	142		$	84		$	408		$	201

(1)	Includes continuing operations only.
(2)	Refer to the Consolidated results of operations section for details regarding special items.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, financial performance, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; customer value; expected demand for products and services; growth strategy; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry-into-service of products and services, orders, deliveries, testing, lead times, certifications and execution of orders in general; competitive position; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements, and ongoing review of strategic and financial alternatives; the introduction of, productivity enhancements, operational efficiencies, cost reduction and restructuring initiatives, and anticipated costs, intended benefits and timing thereof; the anticipated business transition to growth cycle and cash generation; expectations, objectives and strategies regarding debt repayment, refinancing of maturities and interest cost reduction; expectations regarding availability of government assistance programs, compliance with restrictive debt covenants; expectations regarding the declaration and payment of dividends on our preferred shares; intentions and objectives for our programs, assets and operations; and the impact of the COVID-19 pandemic on the foregoing and the effectiveness of plans and measures we have implemented in response thereto; and expectations regarding the strength of the market and economic recovery in the aftermath of the COVID-19 pandemic. As it relates to the sale of the Transportation business to Alstom, this press release also contains forward-looking statements with respect to the benefits of such transaction, the use of the proceeds derived from the transaction and its impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition, business plan and overall strategy.

Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “shall”, “can”, “expect”, “estimate”, “intend”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “maintain” or “align”, the negative of these terms, variations of them or similar terminology. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of our current objectives, strategic priorities, expectations, outlook and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

By their nature, forward-looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward-looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward-looking statements made in this press release include the following material assumptions: the deployment of the proceeds from the sale of the Transportation business to Alstom on terms allowing the Corporation, when combined with other financing sources and free cash flow generation, to repay or otherwise manage its financial obligations for the next three years; growth of the business aviation market and increase of the Corporation’s share of such market; proper identification of recurring cost savings and executing on our cost reduction plan; optimization of our real estate portfolio, including through the sale or other transaction in respect of real estate assets on favorable terms; and access to working capital facilities on market terms. For additional information, including with respect to other assumptions underlying the forward-looking statements made in this press release, refer to the Forward-looking statements — Assumptions section in the MD&A of our financial report for the fiscal year ended December 31, 2020. Given the impact of the changing circumstances surrounding the COVID-19 pandemic and the related response from the Corporation, governments (federal, provincial and municipal), regulatory authorities, businesses, suppliers, customers, counterparties and third-party service providers, there is inherently more uncertainty associated with the Corporation’s assumptions as compared to prior years.

Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with the financial condition of business aircraft customers; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business ; order backlog; the transition to a pure-play business aviation company; the certification of products and services; the execution of orders; pressures on cash flows and capital expenditures based on seasonality and cyclicality; execution of our strategy, productivity enhancements, operational efficiencies, restructuring and cost reduction initiatives; doing business with partners; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial debt and interest payment requirements; restrictive debt covenants; reliance on debt management and interest cost reduction strategies; and reliance on government support), market risks (such as foreign currency fluctuations; changing interest rates; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A of our financial report for the fiscal year ended December 31, 2020. Any one or more of the foregoing factors may be exacerbated by the ongoing COVID-19 outbreak and may have a significantly more severe impact on the Corporation’s business, results of operations and financial condition than in the absence of such outbreak. As a result of the current COVID-19 pandemic, additional factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: risks related to the impact and effects of the COVID-19 pandemic on economic conditions and financial markets and the resulting impact on our business, operations, capital resources, liquidity, financial condition, margins, prospects and results; uncertainty regarding the magnitude and length of economic disruption as a result of the COVID-19 outbreak and the resulting effects on the demand environment for our products and services; uncertainty regarding market and economic recovery in the aftermath of the COVID-19 pandemic; emergency measures and restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions; disruptions to global supply chain, customers, workforce, counterparties and third-party service providers; further disruptions to operations, orders and deliveries; technology, privacy, cyber security and reputational risks; and other unforeseen adverse events.

Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward-looking statements. Other risks and uncertainties not presently known to us or that we presently believe are not material could also cause actual results or events to differ materially from those expressed or implied in our forward-looking statements. The forward-looking statements set forth herein reflect management’s expectations as at the date of this report and are subject to change after such date. Unless otherwise required by applicable securities laws, we expressly disclaim any intention, and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.