Oslo, 4 March, 2026 - Observe Medical ASA (the "Company" or "Observe Medical")
announces initiatives to reduce complexity and cost to invest further in growth.
Innovation Norway financing
The Company has received a NOK 15 million loan from Innovation Norway. The loan
has been disbursed and strengthens the Company's cash position and supports
continued development of its core business activities and new product
development.
Dismantling complexity
As communicated in the interim report announced on 27 February 2026, the Company
has fully written down its investment and related book values in respect of the
Biim probe due to lack of progress from the Company's key customer. As a
consequence, the final steps to close down all Biim related activities have now
been resolved by the board including to wind up Biim Ultrasound AS and its
subsidiaries.
The decision forms part of the Company's ongoing efforts to streamline its
corporate structure and reduce administrative complexity and costs. Following
completion of this process the Group structure will be simplified, and our cost
base will be reduced accordingly.
As part of the Company's sharpened strategic focus, recruitment of two new
commercial resources has been initiated to accelerate market penetration.
CEO Jørgen Mann, comments: "Through reduction of complexity combined with
significant cost reduction we are continuing our journey towards building a
strong platform with the UnoMeter business where we have seen good progress and
a strong Product Development pipeline. With these steps we believe to have
completed the right-sizing of Observe Medical and we are now fully focused on
accelerating commercial execution and driving growth in our core business."
Observe Medical invites investors, analysts, and other stakeholders to a
presentation with trading update 25 March 2026, at 10:00 CET. There we will,
among other, focus on our order trajectory inbound 2026, together with the
conclusion from our important UnoMeter Safeti Max test that will be finalized by
March 20, 2026.
The presentation will be streamed via webcast at the following link:
https://qcnl.tv/p/OLaQ0Xa8KdjTtD9W3cv0PQ
For further information, please contact:
Jørgen Mann, CEO Observe Medical
Mobile: +45 408 67558
E-mail: jorgen.mann@observemedical.com
Johan Fagerli, CFO Observe Medical
Mobile: +47 958 12765
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 atwww.observemedical.com.