Framework Agreement

RNS Number : 4733X

Parity Group PLC

19 December 2019

 

19 December 2019

AIM: PTY

Parity Group PLC

("Parity" or "Company")

Parity signs a 3-year revenue sharing Framework Agreement with Integumen plc

Parity announces, pursuant to its announcement on 13 November 2019, the completion of a framework agreement with Integument to offer its clients access to Rinocloud, a secure cloud based data storage solution with built in Artificial Intelligence.

The signing of a 3-year Framework Agreement ("Agreement") with Rinocloud Limited ("Rinocloud"), a subsidiary of Integumen plc, for the supply and roll-out of mobile enterprise resource, data management and artificially intelligent business tool software services to clients from within the public sector including the National Health Service ("NHS"), Utilities, Housing Associations and Private Institutional companies.

Matthew Bayfield, CEO of Parity Group plc comments:

"Having joined as CEO in February 2019 I am delighted to announce the agreement with Integumen as we head into 2020. This agreement is part of Parity's transition to a leaner, higher value, enterprise resourcing and data management consultancy.

Clients want to take control of their data landscape, and they want Parity to be flexible in partnering with them to deliver their outcomes, this agreement helps us to add value to our client's business. By increasing value for our clients, we increase our revenue per client, increase client contract terms, generating a higher margin and profitability."

Gerard Brandon, CEO of Integumen plc, & Director of Rinocloud, comments:

Following on from the Heads of Terms signed with Parity 5-weeks ago, Rinocloud can already see the benefit of working alongside the Parity Team who are vendor approved and offer a ready-made sales, marketing and distribution channel into the ideal clients for our mobile enterprise resource, business tools and data management software services. The teams have already identified a number of clients across the Parity client portfolio and expect to commence targeting them early in 2020."

Combined benefits:

·      Recurring shared revenue streams for both Parity and Integumen in 2020

·      Value-added proposition in demand from Parity clients with c. 3 to 5-year annual contracts

·      Immediate access to 150 public and private institutional clients

·      Trusted approved vendor for Government and private sectors for over 45 years

·      1,000+ data experts and 100+ enterprise sales and office professionals

·      Existing cross-over access to educational institutional research facilities

·      Access to multiple industry, public and private sector distribution routes to market

·      Well defined roadmap to next level business growth for both Parity and Integumen

Contacts

Parity Group plc	Matthew Bayfield, CEO Roger Antony, GFD	[phone]
WH Ireland Limited (Nominated Adviser & Broker)	Mike Coe Chris Savidge	[phone]
Donhead Consultants (Broker)	David Beck	[phone]

About Parity Group: www.parity.net

Parity helps organisations find the right people, skills and data to support data-led business decisions. Providing advice on data and with access to qualified personnel with skills offered, either as a managed service, through resourcing in the contract or permanent market or as part of a learning and development programme.

Income derives from a mix of long-term contracts with public and private sector organisations as well as expanded projects with existing clients as a result of strong relationships and a track record of high client satisfaction. Key highlights comprising of:

·      Over 45 years of expertise in public and private recruitment and service contract sector

·      More than 50 employees across the UK

·      Client numbers exceed 150 in both UK and Ireland

·      Associate numbers supporting client services exceeds 1,000

About Integumen: www.integumen.com

Integumen is a vertically integrated product and services company for skin related diseases, treatments and therapies with four business units: 

·      Labskin AI's technology platform incorporates artificial intelligence within clinical research for medical device, pharmaceuticals, cosmeceuticals and related life science test services.  Labskin allows skincare, healthcare, pharmaceutical manufacturers and cosmetic companies to test their products on human-like skin in a real-world environment with full access to multiple state-of-the-art partner technologies.

·      Rinodrive is a data aggregation, refining and AI analysis open-source eco-system designed to provide third-party service providers the ability to offer their clients valuable insights that support clinical, operational and financial decisions in healthcare services, third-level education, government departments and the financial sector.

·      Wound pHase is developing skin and wound care products using its proprietary wound dressing technology. Working in collaboration with CBD providers creating a CBD infused diabetic wound care product range.

·      Stoer-for-men skin products e-commerce division offers a range of skincare products derived from 5 natural super-ingredient plant extracts specifically for men to reduce the signs of ageing and is also used as a control for client testing within Labskin laboratories.

Rinocloud: www.rinodrive.com

A fully integrated set of software tools that can ingest data, in any volume, from any source in any format, interact with it, learn from it and enrich it to unlock insights and discoveries.

This data management solution was developed by scientists and engineers with experience in software, sensors, AI, optofluidic research, fintech, green-tech, travel and healthcare.

It was designed to allow interaction, in a cyber-secure environment, with commercially sensitive data, and to share insights across multi-disciplinary teams, generating different data formats, from multiple sources, located in different countries.

RinoDrive delivers big data, AI functionality and world class infrastructure to large companies with big data problems. These include financial services, education and life science companies. Most recently completing the automation of laboratories and application of AI to unearth more knowledge about the skin microbiome. This led to the acquisition in May 2019 by Integumen PLC, to secure access to, and the exploitation of data from some of the largest cosmetic, pharmaceutical and medical companies in the world.

 

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