Simavita commences trading on ASX
Sydney-based incontinence management company Simavita has commenced trading on the ASX, under the ticker code SVA.
The ASX listing follows the reverse takeover of Gtech International Resources in mid-2013 and Simavita’s subsequent backdoor listing on the Toronto Stock Exchange.
Simavita Managing Director and CEO Philippa Lewis said the company considered an ASX listing to be “very great significance to us as all of our ground-breaking research and development was done here”.
“We’re anticipating working with government and the aged care sector in Australia to make reduction of incontinence-related costs and better care outcomes a reality.”
Simavita’s core technology is its Smart Incontinence Management (SIM) platform, a wireless sensor designed to detect incontinence and generate data to help develop incontinence management core plans.
The company has an exclusive US distribution agreement with Medline, and the two companies are working towards a launch of SIM in the nation’s aged care market.
“The exclusive distribution agreement with Medline is a massive opportunity and validation for Simavita because Medline regards SIM as the only genuinely market-ready and fully patent-protected incontinence medical device suitable for the North America market,” Lewis said.
Simavita (ASX:SVA) shares listed at $0.50.
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