Observe Medical ASA (Company) announced 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 UnoMeter?.

Since the UnoMeter? works alongside urinary catheters, this partnership offers a natural synergy, allowing it 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.