Oslo 8 March 2021 - Observe Medical ASA (OSE: OBSERV), today announces an order
to deliver a newly introduced blood & fluid warmer system, including disposable
supplies, to two university hospitals and one regional hospital in Nordic
market.

 "This is a breakthrough order for an innovative and newly introduced blood &
fluid warmer system and the result of the work by our sales team and the strong
relations with our customers. The order includes a number of the blood & fluid
warmer devices and the contract for supply of the disposable single patient
blood warmer sets for several years, with the possibility for us to add on the
service business for the products. All in all, this represents a highly dynamic
business opportunity, which might be a door opener for similar installations for
other hospitals in the Nordic market. It also opens up the access for us to
communicate on the other products in our portfolio in the surgical departments,
which is synergistic for the full portfolio, including Sippi®," says Anders
Nachtweij, Sales Director, Observe Medical.

The blood and fluid warmer is used mainly in the surgical departments at
hospitals, to heat up blood bags to the right temperature before being used for
patients in surgery (blood bags are stored and transported cooled to preserve
the blood cells). The Nordic market for blood & fluid warmer systems is
estimated at more than one thousand systems.

"The blood & fluid warmer system represents a business opportunity similar to
Sippi®, with a medical device, recurring business from disposables and the
possibility to add the service & support business. It also secures the access
for us to surgical departments for our full portfolio and indicates that
hospital departments are now gradually open up, if you have the right relation
with them," concludes Björn Larsson, CEO of Observe Medical.

The upfront revenue is approximately SEK 650.000 and expected to be included in
the Q2 2021 financial reporting of Observe Medical, though the main value of the
order will be the recurring business over the coming years.

For further information, please contact:

Björn Larsson, CEO, mobile: +46 76 620 17 25 E-mail:
bjorn.larsson@observemedical.com

About Observe Medical

https://observemedical.com/ Observe Medical develops, 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 are 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 the possibility for
wireless data transfer to hospital patient data management systems and hinders
bacterial migration that can lead to urinary infections (Sippcoat®). Sippi® is
CE marked and currently being launched with a focus on selected markets and
hospitals in the Nordics and in Europe.