Oslo, 11 February 2025 - Observe Medical ASA (the "Company" or "Observe Medical") announces entry into the Indian market with LOI signed with strong local partner and first order received.

India represents one of the largest and fastest-growing healthcare markets worldwide and is projected to grow at a compound annual growth rate (CAGR) of 15-18%, with forecasts estimating the countrys healthcare market could reach USD 50 billion by 2030.

Jørgen Mann, CEO of Observe Medical, commented: "We have a established a partnership with a strong local partner and taken the first order which has been one of our strategic ambitions due to the size of the market but even more the Rising Healthcare Expenditure, where Healthcare spending is growing steadily, supported by both private investment and public sector initiatives, making India one of the most interesting markets globally."

For further information, please contact:

Jørgen Mann, CEO Observe Medical
Mobile: +45 408 67 558
E-mail: jorgen.mann@observemedical.com

Johan Fagerli, CFO Observe Medical
Mobile: +47 958 12 765
E-mail: johan.fagerli@observemedical.com

About Observe Medical

Observe Medical is a Nordic medtech company that develops, markets and sells innovative medtech products for the global market. The Company is committed to improving patient welfare and patient outcomes, improving clinical data accuracy and promoting positive health economics.

The Company seeks to drive growth by leveraging its expertise in sales and commercialization of its broad portfolio of medical technology products, mainly in urine measurement and ultrasound, in combination with targeted M&A and distribution. Observe Medical is working with a network of leading distributors to provide outstanding solutions for healthcare professionals globally.

The Company is headquartered in Oslo, Norway.

Further information is available at www.observemedical.com.