Observe Medical ASA announces Letter of Intent with Sulacare for Female Catheterization Product Launch

04 Jun 2024 11:11 CEST

Oslo, 4 June 2024 - Observe Medical ASA ("the Company" or "Observe Medical")
announces that it has entered into a Letter of Intent (LOI) with Sulacare AS
("Sulacare") to collaborate on the commercial launch of Sulacare's innovative
and proprietary female catheterization product.

This partnership goes beyond leveraging Observe Medical's established platform
to commercialize and distribute innovative high-quality MedTech products through
its global distribution network. It creates a strategic fit with Observe
Medical's existing product portfolio, particularly the UnoMeterT. Since the
UnoMeterT works alongside urinary catheters, this partnership offers a natural
synergy, allowing us to provide a more comprehensive solution for urinary care.

In addition, Observe Medical and Sulacare will work together to develop a
comprehensive launch plan for the female catheterization product and both
parties will actively support the execution of agreed-upon launch activities.
Concurrent with the launch plan development, Observe Medical and Sulacare will
negotiate a formal partnership agreement outlining the terms for jointly
marketing and distributing the product. This agreement will establish a
transparent profit-sharing model.

Both parties aim to finalize and sign the formal partnership agreement by
September 30, 2024.

"Observe Medical's global distribution network presents a valuable platform for
launching Sulacare's product, while Sulacare's innovative technology holds
significant market potential. This collaboration signifies a commitment from
both companies to improve women's healthcare through innovative solutions", said
Jørgen Mann, Interim CEO of Observe Medical.

For further information, please contact:

Jørgen Mann, Interim 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.

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