Simavita Limited
ASX : SVA
TSX VENTURE : SV

Simavita Limited

September 16, 2014 14:32 ET

Lorien Health Systems to Roll out SIM™ Across its US Facilities

Leading US aged care services provider, Lorien Health Systems to roll out Simavita's SIM ™ Smart Incontinence Management system across all of its skilled nursing facilities - Contract represents first major SIM™ customer for Simavita's exclusive US distributor, Medline Industries, Inc.

- Medline's revenue over the one year life of the agreement is expected to be approximately US$250,000

SYDNEY, AUSTRALIA--(Marketwired - Sept. 16, 2014) - Simavita Limited (ASX:SVA) (TSX VENTURE:SV) ("Simavita" or the "Company") is pleased to announce that the Company's exclusive US distribution partner, Medline Industries, Inc. ("Medline"), has advised that it has executed an agreement under which it will roll out Simavita's SIM™ incontinence assessment and management solution across all of the Skilled Nursing facilities operated by US aged care provider, Lorien Health Systems ("Lorien".)

Lorien, a leader in the provision of aged care services in the US, has in excess of 1,400 beds under management in its nine Skilled Nursing facilities (roughly 800 beds) and five Assisted Living facilities (roughly 600 beds) in the State of Maryland. Under the agreement, it is expect that, commencing from the end of September 2014, the SIM™ system will be rolled out across all of Lorien's Skilled Nursing facilities, replacing the numerous manual continence assessments which are currently being undertaken.

It is anticipated that under the agreement, Lorien, an existing Medline customer, will conduct approximately 700 SIM™ assessments across its nine Skilled Nursing facilities and that the value of this agreement to Medline over the one year life of the contract will be in the order of US$250,000.

"Simavita is pleased to see sales momentum building around our Smart Incontinence Management (SIM™) system in the US, and Lorien's belief in evidence-based practices makes SIM™ an ideal fit for their business" said Simavita CEO Ms. Philippa Lewis. "We expect the SIM™ system will deliver a range of important economic benefits to Lorien's facilities as well as health benefits to their residents and we are excited about working together with Medline to bring them to fruition", she said.

About Simavita

Simavita is a medical device company that has developed an innovative, world first solution for the management of urinary incontinence, with a focus on the elderly. The first product is the SIM™ platform technology which is an instrumented incontinence assessment application that provides evidence-based incontinence management care plans to the residential aged care market.

About SIM

SIM™ is a wireless sensor technology that delivers evidence-based instrument incontinence data on individuals. SIM™ provides user friendly tools and software to assess the incontinence condition and to help plan better outcomes. SIM™ is used to detect, record and report incontinence events during a compulsory or recommended assessment period in residential aged care facilities to develop an evidence-based incontinence care plan.

Conducting assessments is mandatory in many countries and the incontinence assessment creates an influential element of care of each individual. For more information on Simavita or SIM™, please visit www.simavita.com.

About Medline Industries Inc.

Medline Industries, Inc., is the largest privately held manufacturer and distributor of quality medical supplies and clinical solutions in the US. Based in Mundelein, Illinois, the company has 1,200 direct sales representatives who are dedicated points of contact for customers across the continuum of care. Because of its capabilities and engagement with leading industry thought leaders, Medline delivers the most robust product portfolio and patient-care solutions to help healthcare providers perform at their very best. For more information on Medline, visit www.medline.com or http://www.medline.com/social-media to connect with Medline on a variety of social media channels.

About Lorien Health Systems

Established in 1977, Lorien Health Systems (www.lorienhealth.com) is a leading provider of a wide range of aged care services based in Ellicott City, Maryland. The Company operates a total of 14 aged care facilities (both Skilled Nursing and Assisted Living) comprising more than 1,400 beds, all located in the State of Maryland, USA.

The TSX Venture Exchange has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.

Forward-Looking Information

This document may contain "forward-looking information" within the meaning of Canadian securities laws ("forward- looking information"). This forward-looking information is given as of the date of this document.

Forward-looking information relates to future events or future performance and reflects Simavita management's expectations or beliefs regarding future events. Assumptions upon which such forward-looking information is based include that Simavita will be able to successfully execute on its business plans. Many of these assumptions are based on factors and events that are not within the control of Simavita and there is no assurance they will prove to be correct.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "potential", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or information that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Simavita to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to actual results of current business activities; changes in business plans and strategy as plans continue to be refined; other risks of the medical devices and technology industry; delays in obtaining governmental approvals or financing or in the completion of development activities; as well as those factors detailed from time to time in Simavita's interim and annual financial statements and management's discussion and analysis of those statements. Although Simavita has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Simavita provides no assurance that forward- looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

The TSX Venture Exchange has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.

Contact Information

  • Philippa Lewis
    Chief Executive Officer
    +61 2 8405 6381

    Tom Howitt
    CFO and Company Secretary
    +61 2 8405 6391