Simavita doubles Aust sales, books first US revenues

Simavita (ASX:SVA) has doubled Australian monthly revenues for its SIM (Smart Incontinence Management) products and recorded its first US revenues through its distribution agreement with Medline.

In a market update, the company said its Australian monthly sales have increased by more than 100% since February. The company commenced sales of the new SIM Generation 4 in Australia during late March.

To date, Simavita is supplying to 32 active Australian sites that are conducting assessments with SIM. The company also recently signed a supply agreement with an additional aged care group. The Simavita sales team is now seeking additional customers in Queensland, NSW and Victoria.

Simavita’s exclusive North American distribution partner Medline Industries has also officially introduced SIM into its product portfolio and fulfilled its first order for SIM Generation 4.

This order covers long-term care facilities in the US states of Maryland, Washington and Illinois. Customers using the technology have purchased SIM assessments from Medline. The distributor is in talks with a number of large US customer groups considering adopting the technology.

Medline launched SIM in the US at the 2014 National Association Directors of Nursing Administration in Long Term Care (NADONA/LTC) conference in California last month.

Simavita added that plans to open a SIM showcase site in Denmark, in collaboration with the Municipality of Copenhagen and medical product manufacturer Abena A/S, are progressing well. The company recently received the final approval for IT from the City of Copenhagen’s legal and IT departments.

Simavita commenced trading on the ASX in February.

Simavita (ASX:SVA) shares were trading 10% higher at $0.55 as of around 1 pm on Wednesday.