Observe Medical - M&A Activity 2020

Observe Medical ASA - Closing of the transaction to acquire Sylak AB completed.

Observe Medical ASA, October 30, 2020:

On October 29, 2020, Observe Medical announced the signing of the final

agreement to acquire Sylak AB, a distributor of ICU/anaesthesia products in the

Swedish market, for an enterprise value of SEK 6 million (on a cash and debt

free basis).

All conditions in the agreement is met, and the transaction closed on October

30, 2020.

"We are happy to finally conclude this important transaction for Observe

Medical and to be welcoming the Sylak team. They will be important in

accelerating the Nordic go-to-market strategy for Observe Medical's main product

Sippi®. At the same time, we have high ambitions for the continued development

of the Sylak portfolio success," CEO of Observe Medical Björn Larsson says.

Sylak had total revenues of SEK 13.4 million in 2019. Customers include several

of the largest hospitals in Sweden. Following completion of the transaction, the

Company plans to enter Norway and the rest of the Nordics with the combined

Sylak and Observe Medical portfolio. The transaction is financed through

existing cash.

For further information, please refer to the stock exchange announcements from

Observe Medical October 16 and October 29, 2020.

Contact person:

Björn Larsson, CEO of Observe Medical

Mobile: +46 76 620 17 25

About Observe Medical

Observe Medical develops and markets innovative hospital products that

contribute to increased patient safety and a more efficient care system. The

company's headquarter is in Oslo and its operations are based out of Sweden.

Observe Medical's initial product Sippi®, is the only automated digital urine

meter with wireless data transfer to hospital patient data management systems,

and hinders bacterial migration that can lead to urinary infections (Sippcoat®).

Sippi® is CE marked and is currently being launched at selected hospitals in

Europe.

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