Observe Medical receives follow-up order to deliver additional quantity of safety needles to a hospital region in the Nordic market

Oslo 22 March 2021 – Observe Medical ASA (OSE: OBSRV), today announces that Observe Medical Group has received a follow-up order to deliver additional quantity of safety needles to a hospital region in the Nordic market.

The follow-up order represents a value of 4.2 mSEK, with planned delivery of the products during Q3 this year. The original order, with a value of 5.8 mSEK was announced on January 29 see Link. Thus, the total order value is 10 mSEK with potential for yet additional follow-up orders later in 2021.

“It’s highly rewarding to receive this follow-up order, and especially motivating to again be able to source the products through our excellent supplier relations, in the currently critically constrained global supply situation. Thereby we are supporting the healthcare system with the safety needles which are important tools for the healthcare providers during the current pandemic,” says Anders Nachtweij, Sales Director, Observe Medical.

“This order further validates our sales team professionalism and strong customer relations. It strengthens our full product portfolio and specifically facilitates the access to the target customers for Sippi®, currently launched in the Nordic market and selected European countries,” says Björn Larsson, CEO of Observe Medical.

The revenue from the follow-up order is expected to be included in Q3 2021 financial reporting of Observe Medical.

For further information, please contact:

Björn Larsson, CEO, mobile: +46 76 620 17 25 E-mail: bjorn.larsson@observemedical.com

 

About Observe Medical

Observe Medical develops and markets and sells innovative hospital products that contribute to increased patient safety and a more efficient care system. The company’s ambition is to drive growth by leveraging its expertise in sales and commercialization of its broad portfolio of medical technology products, mainly in the areas of Urine measurement, Anesthesiology/ICUs and wound care, in combination with targeted M&A. The company’s headquarter is in Oslo, Norway and its operations is based out of Gothenburg, Sweden. Observe Medical has a direct sales organization in the Nordics and a distributor network internationally. Observe Medical's product Sippi® is the only automated digital urine meter with possibility for wireless data transfer to the hospital patient data management systems and hinders bacterial migration that can lead to urinary infections (Sippcoat®). Sippi® is CE marked and is currently being launched with focus on selected markets and hospitals in Nordics and in Europe.