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Observe Medical är ett norskt bolag verksamma inom medicinteknik. Bolaget bedriver utveckling av tekniska instrument som används inom intensivvården. Produkterna säljs under olika varumärken och är särskilt specialiserade för urinmätning. Störst verksamhet återfinns inom den nordiska samt europeiska marknaden. Bolaget kom till som en avknoppning från Navamedic och har sitt huvudkontor i Oslo, Norge.
2022-08-25 07:00:20
Oslo, 25 August 2022 - Observe Medical ASA ("the Company" or "Observe Medical")
today release its results for the second quarter and first half year of  2022.

Following the acquisition of Biim Ultrasound in March 2022 and corresponding
high corporate activity, Observe Medical has worked to integrate and extract
operational synergies across the company and product portfolio. The company has
also worked to build the organization for future product scale-up and advanced
its partnership with Fresenius Kidney Care.

Throughout March and April 2022, Observe Medical completed the first delivery
phase of Biim ultrasound probes to Fresenius Kidney Care in the US. The roll-out
continues as planned, with 260 probes delivered to Fresenius educational

Observe Medical continues to work closely with the Fresenius team to produce
educational videos, which are expected to drive adoption amongst an additional 2
500 Fresenius centers in the US. Observe Medical will soon move towards the
second phase of the agreement to supply additional Biim ultrasound probes.

"Looking back at the first half of 2022, the most significant development has
been the acquisition and integration of Biim Ultrasound, which placed us on the
map of Nordic medtech companies to watch. Over the last few months, we have
worked diligently to integrate and extract operational synergies, and I am
pleased to say that the work has gone according to plan and that we are ready to
take on the second half of 2022," said Rune Nystad, CEO of Observe Medical.

"Now, part of our commercial focus will be advancing our existing partnership
with Fresenius Kidney Care in the US whilst we reinforce the marketing efforts
for Sippi®," he added.

In the first quarter of 2022, Observe Medical announced that the company's
supplier for the Sippi® Disposable Unit closed down production in Belarus due to
the Ukraine crisis. In August 2022, the company selected a new production and
manufacturing partner in Italy. This agreement will support the ongoing scale-up
preparations for the product in Europe.

Sippi® has also gained international interest as a product that can support
efficiency in the intensive care unit. Replacing one of the last manual
monitoring procedures in the ICU, Sippi® can also offer increased efficiency to
mitigate the ongoing nursing gap.

The company's Nordic sales and distribution platform has also signed four new
contracts, including contracts for anesthesia tubes and anti-bacterial medical
honey across several hospitals in Sweden. As a result, the company now has 35
active contracts with regional health authorities in Sweden and another five
ongoing tenders with an estimated total value of NOK 3 million.

Financial highlights for the first half of 2022

For the first half of 2022, Observe Medical reported NOK 12 million in total
revenues, with revenues from the sales of the Biim ultrasound probe amounting to
NOK 5 million. Gross margin improved to 39.7% (up 2.5pp), driven by the
increased sale of proprietary products.

See the attached presentation material and report for detailed information about
the financial results for the second quarter and the first half of 2022.

Management will host a presentation and Q&A session at 08:30 CEST today. The
presentation will take place at Haakon VIIs gate 2 and will be available via
webcast at the following link:

After the live event, the presentation and recording will be made available
under the Investor Relations section on the Company's website,

For further information, please contact:

Rune Nystad, CEO Observe Medical
Mobile: +47 916 24 683
E-mail: rune.nystad@observemedical.com

Per Arne Nygård, CFO of Observe Medical
Mobile: +47 411 04 345
E-mail: perarne.nygard@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, ultrasound, anesthesiology/ICUs, surgery and wound
care, in combination with targeted M&A.

The Company is headquartered in Oslo, Norway, with additional offices in
Narvik (Norway), Gothenburg (Sweden), Oulu (Finland), and Seattle (the US).
In addition, Observe Medical has a direct sale organization in the Nordics and
a distributor network internationally.

Further information is available at www.observemedical.com.