Oslo, April 18, 2024 - Observe Medical ASA (the "Company" or "Observe Medical")
announces transfer of its Nordic distribution operations to Vingmed, following a
strategic review. The Company assessed the relevance of the business, originally
established as a platform for testing and launching its branded products.

Given the expansion of our global distribution capabilities, which now fulfill
our initial testing and pre-launch needs, the business is becoming less crucial
to our core operations. Consequently, we have decided to seek more suitable
ownership of the Nordic operations going forward.

In November 2023, this decision aligned with the establishment of a new
distribution partnership agreement with Vingmed for the UnoMeterT portfolio in
the Nordic region. Subsequent to this agreement, we began confidential
discussions with Vingmed that resulted in a formal agreement to transfer our
Nordic distribution business to them. The planning for this transfer started in
late 2023 under strict confidentiality to safeguard the ongoing business
operations.

As we now approach the final stages of this transition, we are lifting the
confidentiality to transparently communicate with our stakeholders. The
completion of this transfer is anticipated by the second quarter of 2024. This
strategic divestiture aligns with Observe Medical's broader objective to
streamline our operations and concentrate on expanding our international market
presence, thereby enhancing shareholder value and strengthening our competitive
position in the global market.

For further information, please contact:

Jørgen Mann, Interim CEO Observe Medical
Mobile: +45 408 67 558
E-mail: jorgen.mann@observemedical.com

Johan Fagerli, Interim CFO Observe Medical
Mobile: +47 958 12 765
E-mail: johan.fagerli@observemedical.com

About Observe Medical

Observe Medical is a Nordic medtech company that develops, markets and sells
innovative medtech products for the global market. The Company is committed to
improving patient welfare and patient outcomes, improving clinical data accuracy
and promoting positive health economics.

The Company seeks to drive growth by leveraging its expertise in sales and
commercialization of its broad portfolio of medical technology products, mainly
in urine measurement, ultrasound, anesthesiology/ICUs, surgery and wound care,
in combination with targeted M&A.

The Company is headquartered in Oslo, Norway, with additional offices in Narvik,
Norway and Gothenburg, Sweden, and subsidiaries in Finland and the US. In
addition, Observe Medical has a direct sale organization in the Nordics and a
distributor network internationally.

Further information is available at www.observemedical.com.