Simavita Limited
TSX VENTURE : SV
ASX : SVA

Simavita Limited

April 20, 2015 14:33 ET

Simavita Limited: Results of Government SIM® Trial in Denmark

SYDNEY, AUSTRALIA--(Marketwired - April 20, 2015) - Simavita Limited (TSX VENTURE:SV)(ASX:SVA) -

Highlights:

  • Copenhagen Municipality and Abena A/S report finalised, following the evaluation of Simavita's Smart Incontinence Management (SIM®) system in Denmark

  • Results highlight a reduction in the cost of consumables, a reduced incidence of urinary tract infections in residents observed, and a reduced number of falls amongst residents that had been assessed using SIM®

  • Trial sites now ordering SIM® for ongoing assessments and other Danish Municipalities will soon commence pilots trialling the SIM® system

Simavita Limited ("Simavita" or the "Company"), a global leader in the digital healthcare sector, is pleased to release a summary of clinical results observed during a trial evaluation of Simavita's SIM® system at showcase sites in Denmark. The trial was conducted in late 2014 in collaboration with the Copenhagen Municipality and the Company's local distributor, Abena A/S. It assessed both the benefits of using an evidence based, instrumented, 72 hour assessment and the resulting outcomes of continence care plans generated by SIM®.

The Danish Healthcare Sector

Denmark is recognized as 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 51 municipalities.

Approximately 89,500 elderly people in Denmark live in a nursing home with different degrees of care ranging from complete care to assisted living. 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.

The Danish aged care industry is government controlled and is managed via multiple municipalities. Aged care facilities are owned and operated by the municipality government and buying is done centrally via each municipality.

About the trial

The Company has previously reported on the SIM® trial in Copenhagen and the government has now released a preliminary report in respect of the findings of this trial.

The objective of the evaluation was to determine whether the use of SIM® assessments would result in an accurate, systematic approach to incontinence assessment, and deliver an optimised and person-centred consumption of incontinence pads.

Results

The SIM® 72 hour assessment was conducted across a group of residents. The trial focused on three elements: the resident, the nursing staff and the IT system. Significant outcomes from the trial as expressed in the report were as follows:

  • The customer expressed the view that the SIM® system is easy to work with.

  • 60% of the residents assessed are now wearing a smaller sized pad during the day.

  • Over 25% of the residents assessed are now using a smaller sized pad during the night.

  • Post assessment, a reduction in the occurrence of urinary tract infection amongst the residents was observed.

  • Post assessment, a reduction in the number of falls amongst these residents was also observed.

These observations should result in a lower total cost of consumables used (i.e. the use of fewer and smaller pads), as well as the potential to improve clinical outcomes and reduce key risks in respect of falls and urinary tract infections (UTIs). Both UTIs and falls are common triggers for entry into acute care (hospitals), which in turn translates to higher costs to the healthcare sector. Additionally, UTIs and falls create serious clinical and personal complexities for the elderly.

"The observations from this Danish trial are consistent with our experience in other markets and we are absolutely delighted that such positive clinical and commercial outcomes were identified. These results now provide an excellent platform for a broader Danish roll out, as well as an important reference point for other European countries", commented Simavita CEO, Mrs. Philippa Lewis.

As a result of the successful trial and the evaluation report, momentum is building in Denmark with further Danish Municipalities positioned to commence trials of the SIM® system technology.

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

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.

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 and includes, but is not limited to, information with respect to the successful completion of the Placement, receipt of TSXV acceptance, anticipated use of net proceeds, and Simavita's strategy and development of its technology. 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.

Contact Information

  • Company
    Philippa Lewis
    Chief Executive Officer
    +61 2 8405 6381

    Thomas Howitt
    Chief Financial Officer
    + 61 418 351 127

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