Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on developing and commercializing noninvasive wearable diagnostic devices and supporting personalized lifestyle and weight reduction programs, has received a purchase order from HealthFleet Inc., a leading telehealth provider; the initial order is for 5,000 proBEAT(TM) subscriptions. According to the announcement, the full purchase order, valued at $500,000, is for 75,000 proBEAT glucose sensors delivered over a five-month period and includes an option for HealthFleet to increase volumes based on customer response. The proBEAT glucose sensors will be integrated with HealthFleet’s RestoreHealth wellness program, which is a corporate, comprehensive, end-to-end wellness solution made available to subscriber employees. The program offers high engagement, including extensive coaching, targeted content and curriculum, and detailed reporting across multiple chronic conditions. HealthFleet customers include a number of Fortune 500 companies, insurers, and provider groups. “The HealthFleet purchase order is our first collaboration in the United States and provides an important opportunity to potentially improve outcomes for people with type 2 diabetes by integrating our proBEAT platform into HealthFleet’s RestoreHealth program,” said Nemaura CEO Dr. Faz Chowdhury in the press release. “We are confident that our proprietary sensor technology can improve patient engagement and potential outcomes in the RestoreHealth program and believe that the potential improved outcomes in this pilot can help to position this as the program of choice across the U.S. health economy.”
To view the full press release, visit https://ibn.fm/A6rYE
About Nemaura Medical Inc.
Nemaura Medical is a medical technology company developing and commercializing noninvasive wearable diagnostic devices. The company is currently commercializing sugarBEAT(R) and proBEAT(TM). sugarBEAT, a CE mark-approved class IIb medical device, is a noninvasive and flexible continuous glucose monitor (“CGM”) that provides actionable insights derived from real-time glucose measurements and daily glucose trend data, which may help people with diabetes and prediabetes to better manage, reverse and prevent the onset of diabetes. Nemaura has submitted a premarket approval application (“PMA”) for sugarBEAT to the U.S. Food and Drug Administration (“FDA”). proBEAT combines noninvasive glucose data processed using artificial intelligence (“AI”) and a digital healthcare subscription service and has been launched in the United States as a general wellness product as part of NMRD’s BEAT diabetes program. Nemaura sits at the intersection of the global type 2 diabetes market, which is expected to reach nearly $59 billion by 2025, the $50-plus billion prediabetic market and the wearable health-tech sector for weight loss and wellness applications, which is estimated to reach $60 billion by 2023. For more information about the company, visit www.NemauraMedical.com.
NOTE TO INVESTORS: The latest news and updates relating to NMRD are available in the company’s newsroom at https://ibn.fm/NMRD
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