Observe Medical ASA announces Letter of Intent with Sulacare for Female Catheterization Product Launch
Oslo, 4 June 2024 – Observe Medical ASA ("the Company" or "Observe Medical") announces that it has entered into a Letter of Intent (LOI) with Sulacare AS ("Sulacare") to collaborate on the commercial launch of Sulacare's innovative and proprietary female catheterization product.
This partnership goes beyond leveraging Observe Medical’s established platform to commercialize and distribute innovative high-quality MedTech products through its global distribution network. It creates a strategic fit with Observe Medical's existing product portfolio, particularly the UnoMeter™. Since the UnoMeter™ works alongside urinary catheters, this partnership offers a natural synergy, allowing us to provide a more comprehensive solution for urinary care.
In addition, Observe Medical and Sulacare will work together to develop a comprehensive launch plan for the female catheterization product and both parties will actively support the execution of agreed-upon launch activities. Concurrent with the launch plan development, Observe Medical and Sulacare will negotiate a formal partnership agreement outlining the terms for jointly marketing and distributing the product. This agreement will establish a transparent profit-sharing model.
Both parties aim to finalize and sign the formal partnership agreement by September 30, 2024.
“Observe Medical’s global distribution network presents a valuable platform for launching Sulacare's product, while Sulacare's innovative technology holds significant market potential. This collaboration signifies a commitment from both companies to improve women's healthcare through innovative solutions”, said Jørgen Mann, Interim CEO of Observe Medical.
For further information, please contact:
Jørgen Mann, Interim CEO Observe Medical
Mobile: +45 408 67 558
E-mail: jorgen.mann@observemedical.com
Johan Fagerli, CFO Observe Medical
Mobile: +47 958 12 765
E-mail: johan.fagerli@observemedical.com
About Observe Medical
Observe Medical is a Nordic medtech company that develops, markets and sells innovative medtech products for the global market. The Company is committed to improving patient welfare and patient outcomes, improving clinical data accuracy and promoting positive health economics.
The Company seeks to drive growth by leveraging its expertise in sales and commercialization of its broad portfolio of medical technology products, mainly in urine measurement and ultrasound, in combination with targeted M&A and distribution. Observe Medical is working with a network of leading distributors to provide outstanding solutions for healthcare professionals globally.
The Company is headquartered in Oslo, Norway.
Further information is available at www.observemedical.com.