Oslo, February 23[rd], 2020 - Observe Medical ASA (OSE: OBSRV) today released
its presentation of the fourth quarter 2020, reporting continued progress in
terms of the commercialization and go-to-market strategy for its first product
Sippi®. Sippi® is a unique and proprietary solution for digital automated urine
monitoring in hospitals.

"Sippi® contributes to improved clinical outcome for hospitalized patients,
enhances the working situation for health care professionals and drives
efficiency for clinics. During Q4 2020 and the beginning of 2021 we have brought
more systems into clinical use both in Sweden and Italy. This will serve as
reference for other customers going forward," said CEO of Observe Medical, Björn
Larsson.

In Q4 2020, Observe Medical closed the acquisition of Sylak AB, a Swedish
medtech company with a strong sales team and a product portfolio synergistic
with Sippi®, now fully integrated into the Observe Medical sales operations.

"We have a strong and highly competent Nordic sales operations, which will be
instrumental in accelerating the rollout of Sippi® into clinical use in the
Nordics. We have also strengthened our commercial footprint in Norway through
collaborations with Yallow Life Science AS and Norway Health Tech," said Björn
Larsson.

In the Nordics, Observe Medical has reported that Nya Karolinska Sjukhuset in
Sweden will resume the implementation of Sippi® in clinical use, after a pause
in 2020 due to Covid-19. Observe Medical is also ramping up in Italy and
reported recently that Sippi® is installed in clinical use at the ICU department
of a major Hospital in Northern Italy.

"We are pleased that Nya Karolinska Sjukhuset - a leading university hospital in
Europe, has decided to resume the implementation of Sippi® at the Cardiothoracic
ICU Department and that the cooperation with our Italian distribution partner
SIM Italia has proven to work exceptionally well. We expect these recent
advancements to serve as a reference for other departments at the same hospitals
as well as at other hospitals", said Björn Larsson.

Observe Medical's revenue in the fourth quarter of 2020 was NOK 2.9 million, up
from approx. NOK 94 thousand in the same quarter in 2019. The increase was
primarily driven by the added revenue from the acquired sales and distribution
activities in Sweden. The Company's EBITDA was negative NOK 9.5 million
(negative NOK 3.6 million in the same quarter in 2019), affected by increased
cost related to increased headcount, market activities and transaction expenses
related to M&A. The net result in the period ended at negative NOK 20.4 million
(negative 4.5 million), affected by finance expenses mainly related to increased
non-cash contingent consideration liabilities.

Observe Medical is hosting a presentation of the fourth quarter 2020 financial
results as a video webcast Tuesday, February 23[rd], 2021. The event will start
at 08.30 CET and will be webcasted on www.observemedical.com - Investor
relations and on the following link:

https://channel.royalcast.com/landingpage/hegnarmedia/20210223_2/

Representatives from the Company will be CEO Björn Larsson and CFO Per Arne
Nygård.

Viewers are welcome to ask written questions during and after the presentation
through the webcast player.



For further information, please contact:

Björn Larsson, CEO.

Mobile: +46 76 620 17 25

E-mail: bjorn.larsson@observemedical.com



Per Arne Nygård, CFO

Mobile: +47 411 04 345

E-mail: perarne.nygard@observemedical.com



About Observe Medical

Observe Medical develops and markets and sells innovative hospital products that
contribute to increased patient safety and a more efficient care system. The
company's ambition is to drive growth by leveraging its expertise in sales and
commercialization of its broad portfolio of medical technology products, mainly
in the areas of Urine measurement, Anesthesiology/ICUs and wound care, in
combination with targeted M&A. The company's headquarter is in Oslo, Norway and
its operations is based out of Gothenburg, Sweden. Observe Medical has a direct
sales organization in the Nordics and a distributor network internationally.
Observe Medical's product Sippi® is the only automated digital urine meter with
possibility for wireless data transfer to the hospital patient data management
systems and hinders bacterial migration that can lead to urinary infections
(Sippcoat®). Sippi® is CE marked and is currently being launched with focus on
selected markets and hospitals in Nordics and in Europe.