Global Medical Device Leader Selects Kneat’s SaaS Platform
LIMERICK, Ireland, February 6, 2020/CNW/ – kneat.com, inc. (TSX-V: KSI) (“Kneat”) is pleased to announce that it has signed a three-year software as a service (“SaaS”) agreement with a top tier medical device company.
This global company with operations in over 70 countries and over 20,000 employees selected Kneat’s SaaS platform to digitize all its validation work processes, commencing with computer system validation. Deployment will begin immediately at its lead European site, with ‘Go-Live’ expected in Q2 2020.
This agreement and initial deployment will enable the customer and its affiliates to scale Kneat Gx across its many global sites and work processes, representing a considerable opportunity for expansion of Kneat’s technology.
“Selection of the Kneat Gx platform by this global leader is further reinforcement of Kneat Gx as the platform of choice for global companies in the Life Sciences space, said Eddie Ryan, Chief Executive Officer of Kneat. “We are delighted to be selected by this innovative healthcare leader and we look forward to working with their global teams over the coming years.”
Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next generation Kneat Gx software platform (“Kneat Gx”). Multiple business processes can be configured on Kneat Gx from equipment to computer system validation, through to quality document management. Kneat Gx allows users to author, review, approve, execute testing online, manage any exceptions and post approve final deliverables in a controlled FDA 21 CFR Part 11/ Eudralex Annex 11 compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects and processes world-wide. Customer case studies are reporting productivity improvements in excess of 100% and a higher data integrity and compliance standard. For more information visit www.kneat.com.
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information, includes, but is not limited to, the relationship between Kneat and the customer, Kneat’s business development activities, the use and implementation timelines of Kneat’s software within the customer’s validation processes, the ability and intent of the customer to scale the use of Kneat’s software within the customer’s organization and the compliance of Kneat’s platform under regulatory audit and inspection. While such forward-looking statements are expressed by Kneat, as stated in this release, in good faith and believed by Kneat to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. Kneat does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investors’ own risk.
Neither the TSX Venture Exchange nor 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.
For further information: Hugh Kavanagh, Chief Financial Officer, kneat.com, inc., 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7, T: +353 61 203826, E: firstname.lastname@example.org