Simavita Limited
ASX : SVA

Simavita Limited

November 15, 2016 11:11 ET

Simavita releases home care system - AssessPLUS™, an incontinence solution for NDIS and Home Care Package recipients

Simavita an Approved NDIS Provider

SYDNEY, AUSTRALIA--(Marketwired - Nov. 15, 2016) - Simavita Limited (ASX:SVA) today announced the release of AssessPLUS™, the Company's new automated incontinence assessment solution for use by carers helping National Disability Insurance Scheme (NDIS) participants and seniors living in the community and receiving Home Care Packages. AssessPLUS™ is simultaneously being launched in Europe and North America.

Simavita also announced today that it had been approved as an NDIS Provider under the NDIS scheme in Australia. This approval will greatly assist Simavita in delivering product to carers and directly to NDIS participants via the NDIS portal.

AssessPLUS™ is a new and easy to use product developed by Simavita to help people and their carers who live at home and struggle with the management of incontinence.

AssessPLUS™:

  • Easy for carers to use, right out of the box, no training required;
  • Highly cost effective and designed to reduce the ongoing cost of managing incontinence;
  • Delivers fast and automated care plans; and
  • Delivers real improvements in quality of life expectations including complications associated with dehydration, falls and injuries, skin ulcers and urinary infections.

Simavita anticipates major market opportunities nationally as well as internationally for AssessPLUS™. Governments and insurance agencies are moving toward service programs designed to better assist people in need, to stay in their family homes longer. These programs incorporate the cost effective provision of services to a rapidly growing population who are incontinent and struggle with costs as well as the many care related problems that are associated with incontinence.

We believe that Simavita's new AssessPLUS™ product is focused on significantly improving the management of incontinence and associated problems, as a key criteria in helping people stay in their homes longer, whilst reducing the overall cost of incontinence.

Australian government agencies are rapidly rolling out the AUD$22bn NDIS, whilst the federal government has implemented Home Care Packages designed to deliver greater assistance to seniors, so as to keep them living at home.

The NDIS is anticipated to invest significantly in helping participants with incontinence. In field testing AssessPLUS™, Simavita has worked closely with carers and agencies who deliver services to NDIS and Home Care Package recipients. We are excited by the opportunity that this new product represents.

AssessPLUS™ was delivered in 5 months and is the first deliverable in Simavita's product roadmap for the rapid delivery of new product to areas of significant and unmet need in the field of smart, wearable and disposable sensors for the health care industry.

Simavita remains committed to our existing SIM™ technology and to extending our sales and support of incontinence management products to sophisticated seniors care operators, hospitals and to rehabilitation centers. We continue to upgrade our offering of SIM™ (Version 4.12) and to meet new and existing customer needs. We will strive to maintain our position as the leader in this field.

For further information, please visit the Company's website (www.simavita.com).

About Simavita

Simavita is focused upon the rapid delivery of smart, wearable and disposable sensors for the health care industry.
With the support of our shareholders, customers and employees, Simavita is focused upon the business at hand; creating a commercially successful and growing corporation.

To date we have developed and are actively selling automated sensors and systems for the assessment and management of incontinence. Incontinence and the management of incontinence is a major and rapidly growing challenge. The annual cost to the global economy is in the billions of dollars and rising. It is an enormous cost that includes both incontinence materials as well as the significant time spent by carers in helping people suffering from incontinence. Most significantly, it impacts a growing community of seniors as well as people of any age who may be affected by disability and illness.

Simavita operates directly in Australia, Europe and North America where we see significant and growing demand for product that delivers real cost benefit to the health care industry and particularly for people in need.

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.

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