Simavita Limited
ASX : SVA
TSX VENTURE : SV

Simavita Limited

January 29, 2015 11:41 ET

Simavita Limited: Exclusive Agreement With Danish Distributor Executed and First Sales Recorded

SYDNEY, AUSTRALIA--(Marketwired - Jan. 29, 2015) -

Highlights:

  • Simavita signs agreement with Abena A/S in Denmark to become the first European distributor for SIM™ (Smart Incontinence Management) system; and
  • First European sales of SIM™ recorded.

Simavita Limited (ASX:SVA)(TSX VENTURE:SV) ("Simavita" or the "Company") is pleased to advise that it has executed an exclusive, five-year distribution agreement with Abena A/S ("Abena") to distribute the Company's SIM™ (Smart Incontinence Management) system in Denmark.

The execution of the distribution agreement with Abena follows the successful establishment and operation of a showcase site for SIM™ in Copenhagen, Denmark (as reported by the Company on July 1, 2014 and November 3, 2014). SIM™ assessments conducted at the site are being compiled into a report for review by the Danish Government, for consideration as a best practice approach to incontinence management.

As a result of the success of the showcase site, the first orders for SIM™ from Danish customers have now been received and will be filled by Simavita in the near future.

"We are extremely pleased to have formalised our distribution relationship in Denmark with an experienced local partner like Abena," commented Simavita CEO, Ms. Philippa Lewis. "We believe Abena is particularly well suited to manage the distribution of our products in the important Danish market, and this agreement marks our first entry into the European Union," she said.

"Denmark is recognised to be a leader in the aged care sector. Care for the elderly is approached with a focus on wellness, and the practices implemented there are designed to ensure a high standard of care. Where best practices are identified, it is common for them to be deployed across many of the country's counties and municipalities," continued Ms. Lewis.

The Danish aged care market

Abena delivers incontinence products to 51 municipalities (nursing homes and home care) and all the hospitals in Denmark. Approximately 89,500 elderly people in Denmark live in a nursing home with different degrees of care ranging from complete care to assisted living. Roughly 15% of the elderly people over 65 years of age have home care services in their own home. In Denmark, currently more than 1 million people are aged over 65.

It is estimated that around 10% of the total Danish population of 5,655,750 people - with an overrepresentation in nursing homes - suffers from incontinence ranging from light to severe. Concern about how to prevent and assess incontinence in Danish society has increased during the past decade. It is common to provide a thorough assessment of incontinence in the nursing home or through General Practitioners, but the significant number of people suffering from dementia and other diseases often makes it difficult to communicate effectively with residents about their wetness patterns etc. This problem has created a demand for specialised technology such as SIM™ that supports a more automated method of assessing incontinence patterns. The knowledge obtained about the pattern of the wetness events etc. is vital for determining the timing of effective toileting.

SIM™ - an important quality improvement to Danish incontinence care

An effective assessment that supports the timing of toileting events and high quality incontinence care is an important part of delivering improved care to incontinent people. Incontinence is inconvenient for everyone but, with good quality care that meets the individual's needs, it is considerably easier to live with. The planning of targeted action starts with knowing what is actually going on, and the SIM™ system takes the guess work out of incontinence assessment.

Abena has now trialled the SIM™ system in four nursing homes. To date, two of these nursing homes have now invested in the system and will use it is as part of their incontinence care programme. Over the next 6 to 12 months, Abena will gather information about user experiences so that it can adjust and optimise the roll out of the technology in Denmark.

"Knowledge and innovation has been an important cornerstone in Abena's incontinence concept for many years and therefore the SIM™ system fits in very well in Abena's strategy and comes as a natural development of the overall concept," said Jens Rønn Olesen, Managing Director of Abena.

For further information, see our website (www.simavita.com) or contact the persons outlined below.

About Simavita

Simavita is a medical device company operating in the digital healthcare sector 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 Abena

Founded in 1953, Abena is a large, family-owned manufacturer and provider of total health care solutions for the global market. The company is based in Denmark and boasts a quality assortment of more than 25,000 product items. The core product range comprises modern incontinence and aged care products continuously developed using cutting-edge technology to meet growing contemporary needs.

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.

Except for historical information, this announcement may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, the anticipated date of on the ASX, changing market conditions, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.

Contact Information

  • Simavita Limited
    Philippa Lewis
    Chief Executive Officer
    T: +61 2 8405 6381

    Simavita Limited
    Thomas Howitt
    Chief Financial Officer
    T: +61 418 351 127

    Media and Investor Relations - In Australia:
    Jane Lowe
    IR Department
    E: jane.lowe@irdepartment.com.au
    T: +61 411 117 774

    Media and Investor Relations - In the US:
    David Carey
    Lazar Partners Ltd.
    E: dcarey@lazarpartners.com
    T: +1 212 867 1762