Global Medical Devices Manufacturer Selects Kneat to Digitize Validation
Rhea-AI Summary
A global medical devices manufacturer has signed a three-year Master Services Agreement with Kneat to digitize its validation processes. The client, headquartered in Germany, employs over 11,000 people and operates 30+ production sites across 15 countries in Europe, Asia and the Americas. The company provides solutions to pharma, biotech and cosmetic industries, including pharmaceutical packaging, drug delivery systems, diagnostic devices, and digital healthcare solutions. They plan to implement the Kneat Gx platform for Commissioning, Qualification and Validation (CQV) processes.
Positive
- Secured three-year Master Services Agreement with a major global medical devices manufacturer
- Client has significant global presence with 30+ production sites across 15 countries
- Expansion into medical devices sector strengthens market position
Negative
- None.
News Market Reaction – KSIOF
In the trading session that priced this news, KSIOF gained 1.63%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LIMERICK, Ireland, Oct. 31, 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 a global and diverse medical devices manufacturer has signed a three-year Master Services Agreement with Kneat to digitize its validation processes.
The Company provides solutions to the pharma, biotech and cosmetic industries, including pharmaceutical primary packaging, drug delivery systems, diagnostic and medical devices, and digital healthcare solutions. Headquartered in Germany, the Company employs more than 11,000 people and operates over 30 production sites in 15 countries across Europe, Asia and the Americas. The company plans to use the Kneat Gx platform initially for Commissioning, Qualification and Validation (CQV).
“Kneat is proud to support this company which has a long history of uncompromising quality,” said Eddie Ryan, Chief Executive Officer of Kneat. “This win demonstrates the value that Kneat can deliver for global companies operating in the Life Sciences supply chain.”
About Kneat
Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. We lead the industry in customer satisfaction with an unblemished record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show a
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: investors@kneat.com
