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19.03.2020 kl 13:01 2177

Observe Medical ASA: Business update in light of COVID-19

Oslo, 19 March 2020 - Observe Medical ASA (OSE: OBSERV) today provides a
business update in light of COVID-19. The company reports continued high
activity level in operations, and several initiatives in the launch and roll-out
of Sippi®.

"The evolving COVID-19 situation has serious impact on all aspects of the global
society, specifically the healthcare system and patients, and on Observe Medical
as well. Despite the circumstances, we operate, produce and deliver at full
capacity. We work according to plan and focus particularly on the international
launch and sales of our Sippi digital urine meter system, with the ultimate goal
of supporting our customers in the healthcare system and the patients," says
Björn Larsson, CEO of Observe Medical ASA.

The company follows national health authorities' provisions and recommendations
closely, and has implemented measures such as travel restrictions, hygienic
measures, work-from-home policy and proactive use of digital communication and
video, both internally and for dialogue with customers, suppliers and other
business partners. The measures have been implemented to keep Observe Medical's
employees safe, contribute to the national health authorities' and healthcare
professionals work to limit infections, and to secure a continued high activity
level in operations.

"COVID-19 situation highlights significant challenges for the global healthcare
system. The importance of patient data accuracy and the severe resource
constraints with high workload and stressed-out staff, in addition to the burden
of healthcare-associated infections, is addressed with our proprietary Sippi
system," says Björn Larsson.

Observe Medical is currently launching Sippi®, an automated and wirelessly
connected system for urine measurement, which offers a unique, effective and
innovative solution for urine monitoring at the hospital intensive care units
(ICUs) and beyond. The system incorporates SippCoat®, a technology that hinders
bacteria migration which can lead to urinary infections. In a recently published
abstract (full article in review), the technology was shown to significantly
inhibit early bacterial biofilm formation in vitro. One of the authors,
Professor Jan Van der Linden at Karolinska University Hospital in Stockholm,
Sweden stated: "We have published two studies showing that Sippi is superior to
analogue systems in accuracy, nurses' workload and satisfaction. Our latest
study, to be published soon, will show SippCoat effectiveness in hindering the
most common bacteria stems growth".

"Last week, together with our German distributor, we initiated the
implementation of Sippi in the ICU clinic of a major hospital, and we also
received the first order from an Austrian hospital. Meanwhile, we are completing
the formation of our international advisory board, which will guide the Sippi
scientific and commercial roadmap onwards." says Björn Larsson.

Further to the COVID-19 situation, Observe Medical is making every effort to
stay close to and support its customers and engage in the efforts of trade
organizations and their workings groups, for example in health economics,
infection prevention and antibiotic resistance. To support in the current
situation, Observe Medical has decided to reach out to the authorities and
hospitals in Norway and Sweden with a specific program, offering the Sippi®
system to ICUs at favorable terms. The company aims to support the relevant
authorities and bodies to coordinate the effort in the best possible way.

Observe Medical is monitoring its value chain closely and has a comfortable
stock situation with regards to Sippi®. This business update is based on the
current situation and subject to change as the COVID-19 situation evolves. It is
currently too early to assess the long-term effects of COVID-19 and the impact
on Observe Medical with certainty.

For further information, please contact:

Björn Larsson, CEO, +46 766 201 725 / bjorn.larsson@observemedical.com

Per Arne Nygård, CFO, +47 41 10 43 45 / perarne.nygard@observemedical.com
Redigert 20.01.2021 kl 23:45

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