Report
Richard Williamson

Checkit - Three-year contract with Biomat in the US

Checkit has signed a three-year subscription contract with Biomat USA, a subsidiary of plasma and infusion medicines specialist Grifols, to provide its temperature-monitoring technology to plasma centres across the US. The vast majority of the £2.8m minimum contract value relates to upsell or new business, with further opportunities being discussed to support Grifols in Europe. This contract demonstrates Checkit’s land and expand strategy and provides support to our forecast of 56% ARR growth in FY23.
Underlying
Checkit

Elektron Technology is a global business that designs, manufactures and markets products that connect, monitor and control. Co. has three business segments: Bulgin, which products are sealed connectors for the demanding environments, and custom product and system development; Instrumentation, Monitoring and Control, which key products are ophthalmic instruments, nanopositioning and sensing equipment, and materials testing equipment; and Checkit, which key products are cloud-based work management software based on interactive checklists, and smart wireless sensors for continuous automated monitoring.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Richard Williamson

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