Simavita Limited
ASX : SVA
TSX VENTURE : SV

Simavita Limited

November 03, 2014 17:00 ET

Simavita Limited: Pilots Drive Further SIM™ Growth in Australia, US and Europe

SYDNEY, AUSTRALIA--(Marketwired - Nov. 3, 2014) - Simavita Limited (ASX:SVA)(TSX VENTURE:SV) -

Highlights:

  • Pilot of SIM™ to be deployed across three sites with large US aged care group, with potential to roll out SIM™ to the group's 90+ sites; other customers signing up and rolling out across a number of US states;
  • Agreement in principle reached with Sanicare Sweden to develop first Swedish SIM™ showcase site;
  • Danish showcase site progresses, along with negotiations with potential European distributors;
  • Number of Australian sites using SIM™ increases to more than 50, with Simavita having secured further commitments to roll out SIM™ to new aged care groups including Anglican Retirement Villages;
  • Simavita's US sales team expands to support Medline and drive further US growth, together with the appointment of a manufacturing and supply chain manager to drive global product delivery and efficiency;
  • Assuming revenues from the Company's first significant Medline order are received during December quarter, revenues for the first half of the 2015 financial year should exceed revenues received during the entire previous financial year.

Simavita Limited ("Simavita" or the "Company") is pleased to report further developments regarding the deployment of the Company's SIM™ (Smart Incontinence Management) solution in the Australian, Central European and US markets.

Medline distribution of SIM™ grows

Simavita's partnership with US distribution partner, Medline, continues to strengthen with Medline confirming that a large aged care chain will conduct a pilot of SIM™ across three of its aged care facilities in the United States. The chain encompasses over 90 sites in the US and, if SIM™ is rolled out to all of the chain's sites, it will represent another significant order from Medline.

To support Medline's sales efforts, a small but highly specialised Simavita sales team is now covering the mid-west and west coast, assisting with the growth of sales in the US.

European activities ramp up

Simavita has reached an agreement in principle with innovative incontinence care distributor, Sanicare Sweden, to establish a showcase site for the SIM™ technology in that country. It is anticipated that Sanicare will start conducting assessments using SIM™ in 2015. This Swedish showcase site will be the second such site in Europe, and follows the establishment of a showcase site in Denmark by Simavita and Abena.

The Danish showcase site in collaboration with Abena has been formally conducting assessments for six weeks, and is progressing well. SIM™ assessments conducted at the Abena site will be compiled into a report for review by the Danish Government, for consideration as a best practice approach to incontinence management. It is expected that the report will be submitted in November 2014.

Dialogue is ongoing with a number of potential partners in Europe offering strong distribution channels for SIM™. The Company is working to progress these discussions with a view to formalising distribution agreements in early 2015.

Australian pilots and sales growth

Australian aged care provider Anglican Retirement Villages (ARV) has recently commenced a pilot of the SIM™ technology, with two facilities now conducting assessments. On successful completion of this pilot, there will be an opportunity to roll SIM™ out across ARV's remaining 16 facilities.

Initial pilots with several other Australian facilities have also commenced, including a pilot with Simavita's first customer in Western Australia. Two current pilot customer groups in particular have the potential to add a further 20 sites in early 2015, assuming success with the current trials. In addition, Simavita continues to expand the number of existing groups using SIM™, with eight new sites expected to implement SIM™ over the next few months in Queensland and Victoria.

To support the global sale of SIM™, the Company has also recently appointed a manufacturing and supply chain manager, Paul Won, based in Australia. Paul has held senior management positions in manufacturing and supply at a number of companies including Bard Australia, Jalco Australia and Hill-Rom and has degrees in both engineering and management.

"We are confident that momentum is starting to grow in all of our key markets for SIM™. The uptake is a strong sign that people are recognising the benefits of the technology and these pilots and showcases are an important way of validating how SIM™ can actually change the quality of life for aged care residents. The feedback we have received from US and Australian customers, carers in aged care facilities, and the families they are supporting, has all been excellent," said Simavita CEO, Ms. Philippa Lewis.

To listen to Ms. Lewis discuss this announcement and the Company's progress in detail, please click the link www.brrmedia.com/event/preview/dI5q2sIt/129258?popup=true.

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

Further Information:

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.

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.

ARBN 165 831 309

Contact Information

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

    Simavita Limited
    Thomas Howitt
    Chief Financial Officer
    +61 418 351 127
    www.simavita.com

    Media and Investor Relations: Buchan Consulting
    Annabel Murphy
    +61 2 9237 2800
    amurphy@buchanwe.com.au

    Buchan Consulting
    Rebecca Wilson
    (03) 9866 4722
    rwilson@buchanwe.com.au