TIDMCTEA
RNS Number : 2706C
Catenae Innovation PLC
16 October 2020
16 October 2020
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Catenae signs Joint Venture with Blackhive Africa Medical
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of
digital media and technology, announces that it has signed a 50/50
Joint Venture agreement ("JV") through Onside Now Limited, the
joint venture entity, with BHA-Medical Limited and BHA-Medical
(Pty) Limited, respectively UK and South African entities of the
medical equipment supply company, Blackhive Africa Medical
("BHA-Medical"), to deliver an integrated Covid-19 'Test, Monitor,
Manage Programme' which has the potential for use and deployment by
governments, businesses and organisations.
To date BHA-Medical has supplied approximately 350,000
CE-certified Covid-19 Near-Patient Three-Antibody Tests to
businesses within the UK, including to two FTSE 100 companies.
BHA-Medical will provide the JV with the Near-Patient Covid-19
Healgen Antigen Test scientifically validated by the UK Government,
an oral and nasal swab test which detects current Covid-19
infection, as well as the Near-Patient Three-Antibody Test, for
which BHA-Medical has exclusivity in the UK to detect current and
historic symptomatic and asymptomatic Covid-19 cases using a finger
prick blood sample. Both tests are conducted on site by clinically
trained professionals and deliver results in around twenty
minutes.
Any profits generated through the JV will be distributed evenly
to BHA Medical and Catenae. There is no guarantee that the JV will
generate profits. The Company will update the market with
developments at the JV in due course.
Catenae's technology solutions allow for the inputting of the
Covid-19 test results into the Company's GDPR-compliant data
management platform utilising the Company's distributed ledger
technology (blockchain). Administrators of the platform will have
access to a 'Data Intelligence Dashboard' in order to monitor the
health status of their populations and respond to outbreaks and
hotspots of Covid-19 infections.
In addition, where needed, individuals who have taken either of
the above Covid-19 test are able to download Catenae's proprietary
Onsite ID mobile app whereby their Covid-19 test status can be
disclosed in a secure digital medium. Their test result can also be
sent to them via the platform's 'Push notification'
functionality.
Guy Meyer, Chief Executive Officer of Catenae, said: "We are
pleased to have entered into a Joint Venture agreement with
BHA-Medical both here in the U.K. and in South Africa. BHA-Medical
and ourselves are strategically aligned given that we complement
each other's offering. Our revenue models are both volume based and
both have the capacity to scale. BHA-Medical's presence in South
Africa also dovetails into the current market activity that
Afrik-ID are undertaking across the SADC region from neighbouring
Botswana.
"We are committed to providing the technology and software
required to help governments, businesses and organisations safely
and securely monitor and manage their populations during these
difficult times.
"We look forward to updating the market as the JV
progresses."
Gavyn Hough, Group Director of BHA-Medical, said: "BHA-Medical
is a global supplier of medical equipment and consumables.
Recently, our team has dedicated itself almost entirely to
supporting the fight against Covid-19. BHA-Medical is bringing the
latest near-patient testing technology to our clients, enabling
cases to be identified faster, tracing procedures to be initiated
faster, staff kept safe and lives saved. Working in partnership
with Catenae will provide individuals, organisations and
governments with real-time health data, which, when coupled with
the latest BHA-Medical testing technology, will create Covid-19
confidence and the safest possible environments."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The person who arranged for
release of this announcement on behalf of the Company was Guy
Meyer, Chief Executive Officer of the Company.
- Ends -
For further information please contact:
+44 (0)191 580
Catenae Innovation PLC 8545
Guy Meyer, Chief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser) +44(0)20 7213 0880
Liam Murray / Jo Turner
+44 (0)20 3463
Brandon Hill Capital Limited, Broker 5000
Andy Gutmann
+44 (0)20 3004
Yellow Jersey PR (PR & IP) 9512
Sarah Hollins / Annabel Atkins
Notes to Editors:
About the Joint Venture
www.catenaeinnovation.com/bha-medical-joint-venture
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media
and technology services. Catenae use the power of blockchain to
deliver solutions where its people-centric technology enables trust
and certainty allowing organisations to gain better control over
their operations, manage staff and safely welcome customers.
www.catenaeinnovation.com
About BHA-Medical
BHA-Medical is a medical equipment supply company, with over 20
years of international experience. It works commercially and
clinically with some of the world leaders in both pre-hospital and
hospital settings.
www.bha-medical.com
Forward-Looking Statements
Certain statements made in this announcement are forward-looking
statements. These forward-looking statements are not historical
facts but rather are based on the Company's current expectations,
estimates, and projections about its industry; its beliefs; and
assumptions. Words such as 'anticipates,' 'expects,' 'intends,'
'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions
are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties, and other factors, some
of which are beyond the Company's control, are difficult to
predict, and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking
statements.
The Company cautions security holders and prospective security
holders not to place undue reliance on these forward-looking
statements, which reflect the view of the Company only as of the
date of this announcement. The forward-looking statements made in
this announcement relate only to events as of the date on which the
statements are made. The Company will not undertake any obligation
to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or
unanticipated events occurring after the date of this announcement
except as required by law or by any appropriate regulatory
authority.
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END
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October 16, 2020 02:00 ET (06:00 GMT)
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