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SYDNEY, AUSTRALIA -- (Marketwired) -- 06/02/15 -- Simavita Limited ("Simavita" or the "Company") (TSX VENTURE: SV)(ASX: SVA), a global leader in the digital healthcare sector, is pleased to announce that it has entered into a non-exclusive distribution agreement with Bunzl Outsourcing Services, under which:
Bunzl Outsourcing Services is a major distributor of continence products in the Australian market, through the sales and distribution of its range of Abena products and the distribution of other market leading incontinence brands. This agreement provides an important additional sales channel to enable Simavita to extend its reach, and provides Bunzl Outsourcing Services with an opportunity to offer its customers a superior approach to continence management.
In addition to joint sales and marketing initiatives, this agreement will enable Simavita and Bunzl Outsourcing Services to work together to educate, train and support aged care facilities on the continence management of their residents. In order to commence the sales and marketing process, Bunzl Outsourcing Services has placed an initial order of SIM products so that it can stock its warehouses in Sydney, Melbourne and Brisbane.
Simavita believes this agreement will enhance the rapid deployment of its SIM technology as Bunzl Outsourcing Services has significant market penetration, robust relationships with some of Australia's largest chains and an excellent reputation within the aged care industry.
"We are excited to work with Simavita's transformative technology. We see this as a breakthrough for the aged care industry," says Bunzl Outsourcing Services Managing Director, Lance Ward. "There is no doubt that our customers will value the business efficiencies offered by SIM as well as the significant clinical benefits that will flow," Mr. Ward added.
Simavita CEO, Philippa Lewis, commented, "we are delighted to have entered into this agreement with Bunzl Outsourcing Services, which has one of the best reputations for their provision of quality, holistic continence solutions into the Australian aged care market. The partnership is important for several reasons; firstly, by combining forces, we are able to better provide turn-key solutions to our customers. We will work together to ensure that our combined customers receive an excellent level of support and training, and have more resources to deliver improved care outcomes. Secondly, Bunzl Outsourcing Services has tremendous reach through their market-leading continence product-supplier position, so this partnership provides us with a significant market opportunity."
"The partnership is also a good fit as our business philosophies around improved clinical outcomes, risk management and safety as well as excellence in service delivery are well aligned. The Simavita team is looking forward to working closely with Bunzl to deliver a superior, seamless offering to make a real contribution to improved management of continence and ensuring the safety of aging Australians," concluded Mrs. Lewis.
Simavita will continue to sell and market SIM with its own sales force directly to Australian customers, supplementing the efforts applied by the Bunzl partnership.
For further information, see our website www.simavita.com.
Simavita is a medical device company that has developed an innovative, world first solution for the management of urinary incontinence, with a focus on the elderly. The first product is the SIM platform technology which is an instrumented incontinence assessment application that provides evidence-based incontinence management care plans to the residential aged care market.
Bunzl Outsourcing Services is owned by Bunzl plc, a public listed company with its head office in the UK. Bunzl is a specialist distribution group supplying everyday essentials for customers to operate their business. Bunzl partner with both suppliers and customers in providing outsourcing solutions and service oriented distribution.
SIM is a wireless sensor technology that delivers evidence-based instrument incontinence data on individuals. SIM provides user friendly tools and software to assess the incontinence condition and to help plan better outcomes. SIM is used to detect, record and report incontinence events during a compulsory or recommended assessment period in residential aged care facilities to develop an evidence-based incontinence care plan.
Conducting assessments is mandatory in many countries and the incontinence assessment creates an influential element of care of each individual. For more information on Simavita or SIM, please visit www.simavita.com.
The TSX Venture Exchange has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
This document may contain "forward-looking information" within the meaning of Canadian securities laws ("forward-looking information"). This forward-looking information is given as of the date of this document.
Forward-looking information relates to future events or future performance and reflects Simavita management's expectations or beliefs regarding future events and includes, but is not limited to, the benefit and impact of the Bunzl distribution agreement on Simavita's actual sales and marketing, the results of combined efforts for Simavita and Bunzl working together to educate, train and support aged care facilities, whether or not business efficiencies and clinical benefits result from the Bunzl distribution agreement, and Simavita's strategy and development of its technology. Assumptions upon which such forward-looking information is based include that Simavita will be able to successfully execute on its business plans. Many of these assumptions are based on factors and events that are not within the control of Simavita and there is no assurance they will prove to be correct.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "potential", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or information that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Simavita to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to actual results of current business activities; changes in business plans and strategy as plans continue to be refined; other risks of the medical devices and technology industry; delays in obtaining governmental approvals or financing or in the completion of development activities; as well as those factors detailed from time to time in Simavita's interim and annual financial statements and management's discussion and analysis of those statements. Although Simavita has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Simavita provides no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.Contacts: Simavita Limited Philippa Lewis Chief Executive Officer T: +61 2 8405 6381 Simavita Limited Thomas Howitt Chief Financial Officer T: + 61 418 351 127 Simavita Limited - Media and Investor Relations Jane Lowe T: +61 411 117 774 NEXT ARTICLE
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