Observe Medical ASA, October 30, 2020:

On October 29, 2020, Observe Medical announced the signing of the final
agreement to acquire Sylak AB, a distributor of ICU/anaesthesia products in the
Swedish market, for an enterprise value of SEK 6 million (on a cash and debt
free basis).

All conditions in the agreement is met, and the transaction closed on October
30, 2020.

 "We are happy to finally conclude this important transaction for Observe
Medical and to be welcoming the Sylak team. They will be important in
accelerating the Nordic go-to-market strategy for Observe Medical's main product
Sippi®. At the same time, we have high ambitions for the continued development
of the Sylak portfolio success," CEO of Observe Medical Björn Larsson says.

Sylak had total revenues of SEK 13.4 million in 2019. Customers include several
of the largest hospitals in Sweden. Following completion of the transaction, the
Company plans to enter Norway and the rest of the Nordics with the combined
Sylak and Observe Medical portfolio. The transaction is financed through
existing cash.

For further information, please refer to the stock exchange announcements from
Observe Medical October 16 and October 29, 2020.

Contact person:
Björn Larsson, CEO of Observe Medical
Mobile: +46 76 620 17 25
E-mail: bjorn.larsson@observemedical.com

About Observe Medical

Observe Medical develops and markets innovative hospital products that
contribute to increased patient safety and a more efficient care system. The
company's headquarter is in Oslo and its operations are based out of Sweden.
Observe Medical's initial product Sippi®, is the only automated digital urine
meter with wireless data transfer to hospital patient data management systems,
and hinders bacterial migration that can lead to urinary infections (Sippcoat®).
Sippi® is CE marked and is currently being launched at selected hospitals in
Europe.