Global Healthcare Leader Selects Kneat

LIMERICK, Ireland, Feb. 28, 2024 (GLOBE NEWSWIRE) -- kneat.com, inc. (TSX: KSI) (OTC: KSIOF), a leader in digitizing and automating validation and quality processes, is pleased to announce that it has signed a Master Services Agreement with a global provider of critical care products. The Agreement, which initially is for Equipment Validation, allows the company to scale Kneat to all its global validation processes.

Headquartered in the United States with more than 50,000 employees worldwide and operations in more than 20 countries, this new customer provides a wide range of medical devices, as well as pharmaceutical and nutritional therapies, supporting critical care in more than 100 countries. Implementation will begin immediately at a lead site in the United States, followed by two additional sites. An initial go-live is expected in Q3, 2024.

"This top-tier healthcare win continues to highlight the growing power and appeal of the Kneat brand with industry leaders," stated Eddie Ryan, Chief Executive Officer of Kneat. "Kneat has built a customer-centric, high-quality software platform that has proved time and again to generate value for companies across 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/ 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.

For further information:

Katie Keita, Kneat Investor Relations
P: + 1 902-450-2660
E: [email protected]