TIDMPTY
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
Matthew Bayfield,
CEO +44 (0) 208 543
Parity Group plc Roger Antony, GFD 5353
WH Ireland Limited Mike Coe +44 (0) 117 945
(Nominated Adviser & Broker) Chris Savidge 3470
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+44 (0) 7836 293
Donhead Consultants (Broker) David Beck 383
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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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END
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