Melbourne, Australia. 8 April 2019:dorsaVi Ltd (ASX: DVL) announces that ASM Technologies Limited, on behalf of a major UK transport infrastructure organisation, has signed a three-year deal with dorsaVi for 64 myViSafe kits. The organisation will be using myViSafe to support its efforts in self-managing manual handling risks in the field and facilitating changes in manual handling behaviours among their workforce. ASM Technologies is a distribution and procurement provider in the UK.
dorsaVi has received a purchase order and a signed contract from ASM Technologies. ASM Technologies has been invoiced for the full amount of £293,760 GBP ($550k AUD) and this amount will be paid up front. The revenue will be recognised in 36 equal monthly instalments of £8,160 GBP with the first instalment to be recognised on delivery of the myViSafe kits in early Q4.
“This is our largest rollout of myViSafe to a single organisation to date and I’m delighted to see myViSafe being incorporated into this large-scale workplace safety program. The myViSafe product has been built as a scalable solution for small, medium and large organisations to self-manage manual handling injuries and aligns well with dorsaVi’s strategy to build recurring revenue.” said Dr Andrew Ronchi, Chief Executive Officer, dorsaVi Ltd.