Observe Medical signs updated distribution agreement for Sippi® in Italy

Oslo 7 August 2020 – Observe Medical ASA (OSE: OBSERV), today announces it has entered into an updated distribution agreement and strengthened partnership with SIM Italia S.r.l. for the launch of Sippi® in the Italian market.

“We are pleased to announce our strengthened partnership with SIM Italia and the signing of an updated distribution agreement for the important Italian market. SIM Italia is a well-established and professional partner, highly committed to launch Sippi® in Italy together with us, to the benefit of the Italian healthcare system and patients,” says Björn Larsson, CEO of Observe Medical.

Sippi® is the only automated digital urine meter with wireless data transfer to the hospital patient data management systems, also hindering bacterial migration that can lead to urinary infections. Sippi® is CE marked and is currently being launched at selected hospitals in Europe.

“The COVID-19 outbreak in Italy and globally has put healthcare systems under a tremendous pressure. The pandemic has emphasized the need for accurate patient data, the need to prevent and manage hospital acquired infections and the acute need for increased capacity and efficiency in intensive care units. Although the pandemic has slowed some of our initial launch activities, it has underpinned the need for a system like Sippi® and we expect it to be a strong driver for both volume and value growth in the future,” says Larsson and concludes:

“We are preparing our organization to capture this growth opportunity, including keeping close contact with our customers and partners globally, as displayed by this strengthened partnership. We are looking forward to work together with SIM Italia for a successful launch and roll-out of Sippi® in Italy“.

For further information, please contact:
Björn Larsson, CEO, mobile: +46 76 620 17 25 E-mail: bjorn.larsson@observemedical.com
Per Arne Nygård, CFO, mobile: +47 411 04 345 E-mail: perarne.nygard@observemedical.com

About Observe Medical ASA: www.observemedical.com  Observe Medical develops and markets 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 commercialization of medical technology products in combination with targeted M&A.  The company’s headquarter is in Oslo and its operations are based out of Sweden. Observe Medical's product Sippi® is the only automated digital urine meter with wireless data transfer to the hospital patient data management systems, and also 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 Europe.

About  SIM Italia S.r.l.: http://www.simitalia.it/en Founded in 1979 by a group of managers dedicated to international medical marketing, SIM Italia S.r.l. has grown progressively in its field, to manage an ever larger variety of products and affirming itself as one of the most well-known Italian import/export companies on the Italian market. The success of the company was due to the positive response of SIM Italia’s distributive policy on the part of an ever larger group of qualified and well introduced local authorized retailers, who through an original form of strategic symbiosis, are delegated the distribution of the products. The products that SIM Italia represents exclusively in Italy are principally medical devices and single use disposable products.