Simavita Limited
ASX : SVA
TSX VENTURE : SV

Simavita Limited

March 13, 2015 12:07 ET

Simavita Limited: Proposed Appointment of Warren Bingham as Director

SYDNEY, AUSTRALIA--(Marketwired - March 13, 2015) - Simavita Limited (ASX:SVA)(TSX VENTURE:SV) ("Simavita" or the "Company") is pleased to announce the proposed appointment of Mr. Warren Bingham as a Director of the Company. Mr. Bingham's appointment is subject to TSX-V approval as well as shareholder approval which will be sought at a Special Meeting that the Company anticipates will be held in late April / early May 2015.

Over more than 20 years, Mr. Bingham has worked extensively in the field of medical devices and technologies, with expertise in domestic and international markets, health economics, regulatory and clinical affairs and business development.

In 2001, Mr. Bingham established the Australian subsidiary of Given Imaging Ltd., a company that pioneered the PillCam® technology, an ingestible pill-sized camera which monitors gastro-intestinal complaints in a non-invasive, cost effective, safe and patient friendly manner. In 2004, he successfully registered PillCam Capsule Endoscopy with the Medicare Benefits Scheme.

During his time at Given Imaging, Mr. Bingham served on the global management team which drove the company's progression from a small, privately held, research-stage company with no revenue to a multinational, publicly traded company with revenues exceeding USD$200 million. In February 2014, Covidien plc acquired Given Imaging Ltd. for approximately USD$1 billion.

Mr. Bingham currently provides consulting and advisory services to the life science, medtech and biotech sectors.

On an industry level, Mr. Bingham serves as Chair for the AusMedtech National Advisory Group and Chair of the AusMedtech Health Economics Expert Panel. Mr. Bingham also Chairs the MedTech/Lifesciences Subcommittee of the Australia/Israel Chamber of Commerce and Israel Trade Commission, is a strategic advisor to the Board of the Gastroenterological Nurse College of Australia (GENCA), a Mentor at the NSW Enterprise Workshop, an Ambassador and strategic advisor to a NFP Organisation Noble Endeavours, and a past Ambassador for the Vinnies CEO Sleepout.

Mr. Bingham has qualifications in Business Administration and post graduate qualifications in Management. He is also a graduate member of the Australian Institute of Company Directors.

"We are extremely pleased that Warren has agreed to join the Simavita Board and we look forward to benefitting from his experience in innovative, first-to-market, disruptive medical technology. His background in global and domestic strategic planning and commercialisation will benefit Simavita as we drive our business forward. Warren joins Simavita at an exciting time and his experience growing international businesses will be hugely beneficial to the Company and its shareholders as we further establish SIM® adoption within Australia, North America, Europe and push into other markets," said Simavita CEO, Philippa Lewis.

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

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 the timing of the shareholder meeting, the approval of the shareholders, and the approval of the TSX-V. 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.

Contact Information

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

    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