In addition, another one of Kneat's largest pharmaceutical customers signs to transition from Kneat on-premise to Kneat SaaS
LIMERICK, Ireland, Jan. 26, 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 SaaS Master Services Agreement ("the Agreement") with Fresenius Kabi Germany, a leading supplier of clinical nutrition, infusions, pharmaceuticals and medical technology. The agreement is effective immediately and allows the company to scale Kneat across all its business divisions and affiliates.
With more than 3,500 branded products, and its own logistics and decentralized supply centers, Fresenius Kabi continuously improves its processes to supply clinics, pharmacies, medical practices, dealers, care facilities and patients at home with trusted therapies. By deploying Kneat's offering to digitize the validation of its production equipment, facilities and utilities, Fresenius Kabi continues its path to even greater operational efficiencies and data integrity for these validation processes.
This Agreement marks Kneat's first engagement with Fresenius Kabi, which employs more than 41,000 people worldwide. Fresenius Kabi is an independent subsidiary of Fresenius, a more than 300,000-employee global healthcare group. Kneat's demonstrated track record of delivering a strong ROI to its life sciences customers positions Kneat to scale to multiple manufacturing sites and processes across Fresenius Kabi. The initial deployment is across five sites for validating production equipment, facilities and utilities.
Implementation will commence in Q1 2023, with an expected go-live date in Q2 2023.
Separately, earlier this month, one of Kneat's largest pharmaceutical customers and one of its few remaining on-premise deployments signed a three-year master agreement to transition to a SaaS deployment, easing the way for further expansion over the coming years. The customer expects to complete its transition in Q2 2023.
Eddie Ryan, Chief Executive Officer of Kneat, commented, "Having the endorsement of the most trusted companies in the world is a powerful selling tool and a testament to the quality of our software. Add to this the ongoing expansion of our feature set, and we are better equipped than ever to continue to consolidate our leadership position in validation for the life sciences industry."
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/ Eudralex 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.
The forward-looking information in this press release does not include a full assessment or reflection of the unprecedented impacts of the COVID-19 pandemic occurring since the first quarter of 2020 and the ongoing and developing resulting indirect global and regional economic impacts. This has resulted in significant economic uncertainty and even though the Company has to date experienced no significant impact to its operations, any potential impact on our future is difficult to understand or measure at this time.
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 investors' own risk.
SOURCE kneat.com, inc.
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