February 23, 2023 | Leading Global Healthcare Company Selects Kneat’s eValidation Platform
Global SaaS agreement win positions Kneat across multiple divisions
LIMERICK, Ireland, February 23, 2023 /CNW/ – kneat.com, inc. (TSX: KSI) (OTC: KSIOF) (“Kneat” or “the Company”), a leader in digitizing and automating validation and quality processes, is pleased to announce it has signed a three-year Master Services Agreement (“the Agreement”) with a global healthcare leader whose product portfolio spans multiple therapeutic divisions from medical devices through to pharmaceuticals. The Agreement is effective immediately and allows the company to scale Kneat to all validation processes across all these business divisions.
Kneat was selected after extensive evaluations of market options for both computer systems validation and equipment validation. Of the three business divisions that will initially be deploying Kneat Gx, one is replacing a paper-intensive process while the others are upgrading their current approach from hybrid to fully digital.
The Agreement positions Kneat well for later expansion within the company, which has over 100,000 employees and more than 80 manufacturing sites worldwide. Implementation will commence in Q1 2023, with an initial go-live date in Q2 2023.
Eddie Ryan, Chief Executive Officer of Kneat, commented, “This is another strategic win for Kneat: a global powerhouse with diverse operations. Partnering early with such innovators is helping us lead the much-needed digital transformation for validation within life sciences. It’s gratifying to contribute to the quality processes at the very center of health and wellness by making them faster, smarter and more efficient.”
Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next generation Kneat Gx SaaS platform. Multiple business work processes can be configured on the platform from equipment to computer validation, through to quality document management. Kneat’s software allows users to author, review, approve, execute testing online, manage any exceptions, and post-approve final deliverables in a controlled FDA 21 CFR Part 11/ EU Annex 11-compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects and processes globally. Customer case studies are reporting productivity improvements in excess of 100% and a higher data integrity and compliance standard. For more information visit www.kneat.com
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, the relationship between Kneat and the customer, Kneat’s business development activities, the use and implementation timelines of Kneat’s software within the customer’s validation processes, the ability and intent of the customer to scale the use of Kneat’s software within the customer’s organization and the compliance of Kneat’s platform under regulatory audit and inspection. While such forward-looking statements are expressed by Kneat, as stated in this release, in good faith and believed by Kneat to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties.
Kneat does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investor’s own risk.
For further information:
Katie Keita, Kneat Investor Relations
P: + 1 902-706-9074
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