16 Oct 2020 07:00
16 October 2020
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Catenae signs Joint Venture with Blackhive Africa Medical
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that it has signed a 50/50 Joint Venture agreement ("JV") through Onside Now Limited, the joint venture entity, with BHA-Medical Limited and BHA-Medical (Pty) Limited, respectively UK and South African entities of the medical equipment supply company, Blackhive Africa Medical ("BHA-Medical"), to deliver an integrated Covid-19 'Test, Monitor, Manage Programme' which has the potential for use and deployment by governments, businesses and organisations.
To date BHA-Medical has supplied approximately 350,000 CE-certified Covid-19 Near-Patient Three-Antibody Tests to businesses within the UK, including to two FTSE 100 companies.
BHA-Medical will provide the JV with the Near-Patient Covid-19 Healgen Antigen Test scientifically validated by the UK Government, an oral and nasal swab test which detects current Covid-19 infection, as well as the Near-Patient Three-Antibody Test, for which BHA-Medical has exclusivity in the UK to detect current and historic symptomatic and asymptomatic Covid-19 cases using a finger prick blood sample. Both tests are conducted on site by clinically trained professionals and deliver results in around twenty minutes.
Any profits generated through the JV will be distributed evenly to BHA Medical and Catenae. There is no guarantee that the JV will generate profits. The Company will update the market with developments at the JV in due course.
Catenae's technology solutions allow for the inputting of the Covid-19 test results into the Company's GDPR-compliant data management platform utilising the Company's distributed ledger technology (blockchain). Administrators of the platform will have access to a 'Data Intelligence Dashboard' in order to monitor the health status of their populations and respond to outbreaks and hotspots of Covid-19 infections.
In addition, where needed, individuals who have taken either of the above Covid-19 test are able to download Catenae's proprietary Onsite ID mobile app whereby their Covid-19 test status can be disclosed in a secure digital medium. Their test result can also be sent to them via the platform's 'Push notification' functionality.
Guy Meyer, Chief Executive Officer of Catenae, said: "We are pleased to have entered into a Joint Venture agreement with BHA-Medical both here in the U.K. and in South Africa. BHA-Medical and ourselves are strategically aligned given that we complement each other's offering. Our revenue models are both volume based and both have the capacity to scale. BHA-Medical's presence in South Africa also dovetails into the current market activity that Afrik-ID are undertaking across the SADC region from neighbouring Botswana.
"We are committed to providing the technology and software required to help governments, businesses and organisations safely and securely monitor and manage their populations during these difficult times.
"We look forward to updating the market as the JV progresses."
Gavyn Hough, Group Director of BHA-Medical, said: "BHA-Medical is a global supplier of medical equipment and consumables. Recently, our team has dedicated itself almost entirely to supporting the fight against Covid-19. BHA-Medical is bringing the latest near-patient testing technology to our clients, enabling cases to be identified faster, tracing procedures to be initiated faster, staff kept safe and lives saved. Working in partnership with Catenae will provide individuals, organisations and governments with real-time health data, which, when coupled with the latest BHA-Medical testing technology, will create Covid-19 confidence and the safest possible environments."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Chief Executive Officer of the Company.
- Ends -
For further information please contact:
Catenae Innovation PLC | +44 (0)191 580 8545 |
Guy Meyer, Chief Executive Officer |
Cairn Financial Advisers LLP (Nominated Adviser) | +44(0)20 7213 0880 |
Liam Murray / Jo Turner | |
Brandon Hill Capital Limited, Broker | +44 (0)20 3463 5000 |
Andy Gutmann | |
Yellow Jersey PR (PR & IP) | +44 (0)20 3004 9512 |
Sarah Hollins / Annabel Atkins |
Notes to Editors:
About the Joint Venture
www.catenaeinnovation.com/bha-medical-joint-venture
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology services. Catenae use the power of blockchain to deliver solutions where its people-centric technology enables trust and certainty allowing organisations to gain better control over their operations, manage staff and safely welcome customers.
www.catenaeinnovation.com
About BHA-Medical
BHA-Medical is a medical equipment supply company, with over 20 years of international experience. It works commercially and clinically with some of the world leaders in both pre-hospital and hospital settings.
www.bha-medical.com
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.
The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.