Activity

Siemens & UTAK: Renewal of Pricing Agreement Pt. IV - October 07 VIEW RECORDING: https://fathom.video/share/tysyxgx1rqk2vZe-EbsUzyE2yDnX-Pm- Meeting Purpose Discuss renewal of pricing agreement between Siemens and UTAK Laboratories for FY26 and beyond. Key Takeaways - UTAK proposed a 5% year-over-year increase for a two-year contract starting FY26 - Siemens open to counterproposals, including potential tier pricing based on volume increases - Both parties confident in reaching a mutually beneficial agreement - Siemens R&D team reviewing UTAK's product portfolio for potential opportunities Topics Pricing Proposal and Contract Amendment - UTAK suggested 5% year-over-year increase for a two-year period starting FY26 - Jim (Siemens) open to counterproposals, including tier pricing based on volume increases - Agreement could be 1-3 years, depending on negotiations - Siemens may have a reverse proposal to consider Proposal Submission Process - Raleigh (UTAK) to send updated pricing structure via email - Jim prefers a simple quotation format for FY26 and beyond - Current agreement to remain in place; amendment will address FY26 changes - Both parties aim to keep the process straightforward, given the spend isn't in "$45 million" range UTAK Product Portfolio Review - Jim forwarded UTAK's portfolio to Siemens' R&D team for evaluation - Specific interest in blood controls and other control products - Siemens considering potential opportunities in 3-5 year timeframe - Technical experts may join future calls if needed for in-depth discussions Global Manufacturing Considerations - UTAK currently manufactures strictly in California, USA - Siemens expressed interest in potential global manufacturing locations - Benefits of global presence: reduced logistics/customs costs, faster delivery to international customers - UTAK aware of the need and considering expansion in the "not-too-distant future" Next Steps - Raleigh to send updated pricing proposal via email within 1-2 days - Jim to review UTAK's proposal and potentially prepare a counterproposal - Schedule follow-up call in two weeks (around October 21, 2025) to discuss proposals - Continue discussions on terms and conditions changes over the next 12 months if needed - UTAK to keep Siemens updated on any plans for global manufacturing expansion Action Items - Review UTAK's proposal upon receipt. Prepare potential counterproposal/amendments if needed. - WATCH (5 secs): https://fathom.video/share/tysyxgx1rqk2vZe-EbsUzyE2yDnX-Pm-?timestamp=333.9999 - Email Jim proposal w/ 5% YoY increase for 2yr contract, starting Jan. Include updated pricing structure. - WATCH (5 secs): https://fathom.video/share/tysyxgx1rqk2vZe-EbsUzyE2yDnX-Pm-?timestamp=619.9999 - Email Jim summary of call discussion, reaffirming key points covered. - WATCH (5 secs): https://fathom.video/share/tysyxgx1rqk2vZe-EbsUzyE2yDnX-Pm-?timestamp=619.9999