Day trading pre-market open March 30, page-25

30 March 2021
dorsaVi advances Medtronic relationship with Master Services Agreement

Key highlights

• dorsaVi has entered into a master services agreement (MSA) with Medtronic which progresses the commercial relationship between the two companies

• The initial statement of work (SOW) under the agreement is worth approximately US$330k to dorsaVi and is expected to run for approximately 12 months, involving the collaborative data analysis, tailoring and application of dorsaVi’s technology

• The deal follows the initial evaluation agreement announced in December 2020Melbourne

(ASX: DVL) (dorsaVi or the Company) is pleased to announce it has entered into a MSA with Medtronic to progress to the second stage of the Company’s relationship with Medtronic, following the initial evaluation agreement in December 2020.

The second stage agreement is worth approximately US$330k, whereby dorsaVi will work with Medtronic to perform further data capture and data analysis and look to optimise the technology. The project will be conducted over approximately 12 months and will involve analysis of data on patients wearing dorsaVi medical grade wearable sensors.

The agreement follows the evaluation agreement entered in December 2020, where Medtronic staff would work alongside leading clinicians to evaluatethe effectiveness of dorsaVi’s technology in assessing patients undergoing surgical evaluation.

Dr Andrew Ronchi, dorsaVi’s Chief Executive Officer, said:“We are delighted to advance our relationship with Medtronic and continue to help them achieve better clinical evaluations for patients. This second stage agreement is the continued evaluation of our technology, as it follows on from our work as part of the initial evaluation agreement signed in December 2020. Aligned with our channel partnership strategy, we are excited by the opportunities with Medtronic, a world-leading medical technology, services and solutions company.”

Medtronic plc, headquartered in Dublin, Ireland, is among the world's largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world