Simavita Limited
ASX : SVA
TSX VENTURE : SV

Simavita Limited

October 22, 2015 13:05 ET

Simavita Limited: North American Sales and Distribution Update

SYDNEY, AUSTRALIA--(Marketwired - Oct. 22, 2015) -

Highlights:

  • US Market - first sales agreements signed under new US go to market model with groups signed in Alabama, Maryland and Colorado leading to the deployment of Simavita's Smart Incontinence Management™ (SIM™) across over 1,200 beds - further agreements are reaching finalisation.

  • Five recently completed pilot studies now progressed to negotiation phase.

  • Long Term Care industry summit results in the agreement to complete several additional pilot programs, representing 7,200 beds and 71 facilities, with pilots currently in planning phase.

  • Canadian Market - first SIM™ platform deployment contract signed in Canada with a large long term care provider - covers approximately 1,300 beds and now fully deployed.

Simavita Limited (ASX:SVA)(TSX VENTURE:SV) ("Simavita" or the "Company"), a global leader in the digital healthcare sector, is pleased to provide a progress update regarding its North American operations.

First customers signed under new US go to market model

Simavita is pleased to announce that its North American team has executed supply agreements with a number of direct US customers which have now been fully rolled out and represent 1,200 beds. The agreements include:

  • In Alabama, SIM™ has been rolled out in a 225 bed long term care facility which specialises in rehabilitation services.

  • A further agreement is now in place in Maryland, the second in the state, where SIM™ is now also deployed in a five star skilled nursing facility across 155 beds.

  • In Colorado, SIM™ has been deployed across an initial five facilities, representing 820 beds of a 27 facility group, with further rollout across the group anticipated in the coming months.

CEO Philippa Lewis commented, "Since the change in our US go to market strategy was only finalised on 30 July, it is tremendously encouraging that our local Sales and Marketing team has been able to convert a number of high quality customers so quickly. We are encouraged by these first steps in our renewed approach to US sales, and also by the high quality pipeline which is building as a result of our sales and marketing efforts in the US."

US pilot study progress

Completed pilots

Five pilot studies representing 36 facilities and over 3,700 beds trialling the SIM™ technology have recently been completed in US long term care facilities with each representing large and multi-facility groups.

The pilots were completed in conjunction with our US distribution partner Medline and have now progressed to contract negotiation phase.

New pilots being planned

A further set of new pilot studies is being planned, with one of the trials - the first of its kind, to occur in the Assisted Living segment of aged care, a new market for SIM™. Assisted Living, also known as congregate housing, is the fastest growing Aged Care market in the US and is used by individuals who need little or no help and live in separate apartments with shared communal areas. Studies have shown that the rate of incontinence in Assisted Living residents is approximately 50%1.

The new US pilot studies have largely resulted from the US Long Term Care summit, attended by Simavita in July, where the Company presented to executive teams from the largest US long term care chains. The pilot programs which have resulted from the summit represent 7,200 beds and 71 facilities.

First Canadian SIM™ customer contract signed

A leading provider of nursing homes in Ontario has executed an agreement to implement SIM™. The nine facility chain has deployed SIM™ across more than 1,300 beds. This was achieved following the announcement on June 30 of strong collaboration between Simavita's sales and clinical teams, and working together with two new Canadian distribution partners, Medline and Medpro.

"With a population of 35.5 million and more than 15% of those people being over 65, Canada has the potential to be a significant market for Simavita. We are delighted with the strong response we're starting to see for SIM™, from potential Canadian customers both through pilot studies and the execution of agreements and will continue to work closely with Medline and Medpro to drive activity in the region," said Mrs. Lewis.

North American strategy discussion

Investors are invited to view a video interview where Philippa Lewis, CEO and Chris Southerland, Executive V.P., Sales and Marketing discuss the North American go to market strategy; including the diverse markets for SIM™ which are opening in North America, as well as the sales pipeline and pilot activities now in progress.

To view the video, please copy and paste the following link into your browser: http://www.brrmedia.com/event/140540

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

About Simavita

Simavita is a digital healthcare company that has developed an innovative software platform. The first application for the platform is a world first solution for the management of urinary incontinence, with a focus on the elderly. This platform technology 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.

The TSX Venture Exchange ("TSX-V") 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 the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) 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.

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.

1 American Family Care: www.americanfamilycare.com

Contact Information

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

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

    Media and Investor Relations
    Jane Lowe
    +61 411 117 774
    jane.lowe@irdepartment.com.au