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2016-11-11

Navamedic: Q3 2016 Results

Oslo, 11 November 2016
-Navamedic ASA (OSE: NAVA), reported revenues of NOK 65.2 million in the third
quarter of 2016 (NOK 61.5 million in Q3 2015), and an EBITDA of NOK 1.8
million (NOK 1.5 million in Q3 2015). The company initiated the long-term
strategic partnership with TopRidge Pharma in the period, with the
distribution of Imdur® commencing in the Nordic Markets. The development and
commercialisation of Sippi® continues to be on-track.

The third quarter marked the start of Navamedic's long term partnership with
Top Ridge Pharma Limited, as distribution of Imdur to customers in the Nordic
region was initiated. This is the first major product to launch under the
collaboration and Navamedic is working diligently to expand to additional
markets. Sales revenue continued to perform well, up six percent compared to
previous year. Group EBITDA performance was, as expected, weighed by costs
associated with the launch of Sippi, while the base business in Pharma and
Healthcare products returned a positive EBITDA. In Q3, Navamedic moved the
wireless communication version of Sippi into production, expected to
contribute with accelerated sales uptake in the years to come", says Tom
Rönnlund, Chief Executive Officer of Navamedic.

Revenues in the third quarter of 2016 ended at NOK 65.2 million, compared to
NOK 61.5 million in the third quarter of 2015, and with an EBITDA of NOK 1.8
million, up from NOK 1.5 million in Q3 2015. The Q3 2016 financial
performance reflects the high activity within business development, future
growth initiatives and the continued commercialisation of Sippi®.

In September, the distribution of angina prevention medicine Imdur®
(isosorbide mononitrate) commenced in Norway, Denmark, Sweden, Finland and
Iceland. The strategic partnership and long-term distribution agreement
represents significant opportunities for Navamedic's continued development,
as future products planned for launch in Europe by TopRidge Pharma and its
parent company, will be offered on a first rights basis. The agreement is
expected to contribute with annual, future revenues of NOK 70-100 million.

During the third quarter, Navamedic continued the development and
commercialisation of its proprietary urine measurement system, Sippi®, with
new milestones reached with regards to the product's wireless capabilities,
positive feedback from key institutions and prospect customers, as well as
initiation of several important clinical studies.

"Navamedic aims to bring Sippi to additional European and other selected
international markets, and will work jointly with TopRidge Pharma on plans
for a future introduction of Sippi in China. Simultaneously, Navamedic is
preparing to introduce Sippi in the U.S., which is currently scheduled for
late 2017", says Rönnlund.

For further information, please contact:

Tom Rönnlund, CEO, Navamedic. Telephone +46 727 320 321.

Navamedic ASA is a Norwegian medtech and pharmaceutical products company,
delivering products to patients, hospitals and pharmacies in the Nordic and
Benelux markets. The Group's Medtech business has developed and is currently
introducing the next generation of digital urine meter Sippi®. Navamedic's
Pharma and Healthcare business is a distributor of products supplied by a
number of pharmaceutical manufacturers. Navamedic is listed on the Oslo Stock
Exchange (ticker: NAVA).

www.navamedic.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Navamedic ASA Q3 2016 Presentation
http://hugin.info/136020/R/2056251/770182.pdf
Navamedic ASA Q3 2016 Report
http://hugin.info/136020/R/2056251/770183.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Navamedic ASA via Globenewswire

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