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Integumen provides upbeat assessment of 2020 prospects; inks AI deal with Parity Group

"We are delighted to be able to roll-out the Drive4Growth AI platform in partnership with the credibility and reputation that Parity data experts hold, with an extensive, if not exhaustive, list of public and private institutions,” said Integumen chief executive Gerard Brandon

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Heading into next year, Integumen said it is “engaging with multiple top 20 global skin and personal care companies”

Integumen PLC (LON:SKIN) provided 2020 revenue guidance of £4mln as it unveiled a deal to deliver artificial intelligence software to clients of Parity Group, the data and people specialist.

The Drive4Growth partnership will provide Integumen access to Parity's National Health Service, central government and private institutional client base, the company said.

WATCH: Multi-year deal with Parity Plc 'a match made in heaven' for Integumen - Gerry Brandon

 And it creates the opportunity to cross-sell its intelligent data management services driven by its Rinodrive technology, it added.

"We are delighted to be able to roll-out the Drive4Growth AI platform in partnership with the credibility and reputation that Parity data experts hold, with an extensive, if not exhaustive, list of public and private institutions,” Integumen chief executive Gerard Brandon said in a statement.

“We look forward to working alongside Parity to extract greater value for their clients and contribute to the transformation of the UK's National Health Service, public and private institution data over the next few years.”

As well as developing AI solutions, Integumen has created an artificial skin technology used in R&D by cosmetic companies.

This has been the driver behind top-line growth.

In a trading update included with the Parity deal announcement, the firm said the average sale has grown from a one-off £5,000 to a £50,000 “as-a-service” contract.

Heading into next year, Integumen said it is “engaging with multiple top 20 global skin and personal care companies”.

It believes average sales are likely to range between £100,000 and £500,000 for data as a service to skincare contracts.

“Therefore, excluding developments that may arise from Integumen entering into the agreement with Parity Group, the company is guiding 2020 revenues of £4m,” investors were told.

Quick facts: Integumen

Price: 1.685 GBX

AIM:SKIN
Market: AIM
Market Cap: £18.07 m
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