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SYDNEY, AUSTRALIA -- (Marketwired) -- 06/03/15 -- Simavita Limited ("Simavita" or the "Company") (TSX VENTURE: SV)(ASX: SVA), a global leader in the digital healthcare sector, is pleased to announce the execution of a Corporate Integration Agreement (the "Agreement") with MatrixCare of Bloomington, Minnesota, USA.
Pursuant to the Agreement, Simavita and MatrixCare will collaborate to jointly develop an integrated solution to effect interoperability between Simavita's Smart Incontinence Management (SIM) solution and MatrixCare's electronic health record (EHR) solution. The parties will also work together to deploy the integrated solution and their respective technologies to the US aged care sector.
MatrixCare is a leading EHR provider to the US long term, post-acute care healthcare market. Its solution is currently deployed across more than 7,000 aged care facilities in the US.
Once complete, the integrated solution will enable the significant number of Long Term Care organisations that currently use the MatrixCare EHR solution to seamlessly integrate the data generated by Simavita's SIM technology into their overall healthcare systems.
The use of electronic health record solutions by aged care providers, such as the one offered by MatrixCare, is now mandated in the US. The ability of SIM to integrate seamlessly with such systems represents a major opportunity to gain widespread acceptance of its technology in that market.
"We are extremely pleased to be partnering with MatrixCare to develop interoperability with their EHR solution," commented Simavita CEO, Philippa Lewis. "As a leader in their field, MatrixCare's EHR solution is widely used across the US and we are confident that an integrated solution will open many doors for Simavita to deploy its unique SIM technology," Mrs. Lewis continued.
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 flagship 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.
MatrixCare® solutions have powered the long-term care continuum for over 30 years. Used in more than 7,000 care settings, MatrixCare is the industry leading, cloud-based EHR with care setting specific solutions across the continuum of care. It helps long-term care and senior living communities deliver superior care, resulting in better clinical and financial outcomes. The MatrixCare Architecture for Long-Term Care includes product suites to help providers deliver person-centered care while maintaining high occupancy rates, maximizing revenues, reducing readmissions, and integrating with partners and physicians across the continuum of care. Visit www.matrixcare.com for more information.
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, information with respect to the successful integration between Simavita's Smart Incontinence Management (SIM) solution and MatrixCare's electronic health record (EHR) solution, 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: Company Philippa Lewis Chief Executive Officer +61 2 8405 6381 Thomas Howitt Chief Financial Officer + 61 418 351 127 Media and Investor Relations Jane Lowe +61 411 117 774 NEXT ARTICLE
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