Observe Medical secures significant framework agreement in the UK for Unometer[TM] 500
Oslo, October 3, 2023 - Observe Medical (OSE: OBSRV) announces that the Group, via its UK distributor C&P Medical, has been awarded onto the NHS Supply Chain (NHSSC) Framework with UnometerTM500. This is a 4 year contract, 2 years + an option to extend for further 2 years, effective from February 2024.
NHS and NHSSC have historically been the largest customer of the UnometerTM portfolio in the UK and NHSSC has alone purchased a volume of more than 400,000 units of UnometerTM 500 of a total UK market of approximately 800,000 units annually. Anticipating a continuation of this strong demand, the Framework agreement holds the potential to generate annual revenues exceeding NOK 40 million.
Building on the recent announcement made on September 11, 2023, regarding Observe Medical's acquisition of trademarks and other intellectual property rights for the Unometer™ and Abdo-Pressure™ products, we are thrilled to unveil this major agreement with NHS Supply Chain for distribution of our Unometer™ 500 product. This marks a substantial milestone in the ongoing development of the Unometer™ business, which has traditionally generated annual revenues exceeding NOK 200 million.
"I am proud of the entire Observe Medical team who, through dedicated work, have enabled us to be in a position to deliver UnometerTM 500 products to NHSSC. I would also like to applaud our UK distributor, C&P Medical, who through their expertise have been crucial during this process. This agreement underscores the strength and market position of high quality products such as our UnometerTM portfolio”, said Rune Nystad, CEO at Observe Medical.
For further information, please contact:
Rune Nystad, CEO Observe Medical
Mobile: +47 916 24 683
E-mail: rune.nystad@observemedical.com
Per Arne Nygård, CFO Observe Medical
Mobile: +47 411 04 345
E-mail: perarne.nygard@observemedical.com
About NHS:
The National Health Service (NHS) is the conglomerate name for the publicly funded healthcare systems of the United Kingdom, comprising NHS England, NHS Scotland and NHS Wales.
NHS Supply Chain (NHSSC) manages the sourcing, delivery and supply of healthcare products, services and food for NHS trusts and healthcare organisations across England.
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, ultrasound, anesthesiology/ICUs, surgery and wound care, in combination with targeted M&A.
The Company is headquartered in Oslo, Norway, with additional offices in Narvik, Norway and Gothenburg, Sweden, and subsidiaries in Finland and the US. In addition, Observe Medical has a direct sale organization in the Nordics and a distributor network internationally.
Further information is available at www.observemedical.com.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.