Global SaaS agreement win positions
Kneat across multiple divisions
LIMERICK, Ireland, Feb. 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."
About Kneat
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.
SOURCE kneat.com, inc.