logo-loader
viewNemaura Medical Inc

Nemaura Medical enters into LOI to acquire diabetes-care firm Healthimation to 'complement' proBeat service

Healthimation is commercializing an app-based diabetes prevention program using Hollywood-level animation

Nemaura Medical Inc - Nemaura Medical Inc enters into a letter of intent to acquire diabetes-prevention firm Healthimation LLC
proBeat is a non-invasive glucose monitor and digital healthcare subscription service planned for the US

Nemaura Medical Inc (NASDAQ:NMRD), which is developing its non-invasive glucose monitor and digital healthcare subscription service proBeat, said Monday it has entered into a letter of intent (LOI) to acquire diabetes firm Healthimation LLC.

Healthimation is commercializing an application-based diabetes prevention program that has been developed over 12 years and is supported with clinical data that has been widely published in scientific journal articles, according to a statement.  

The program is delivered using Hollywood-level animation deploying creative user engagement strategies, with a unique program structure aimed at maintaining muscle mass and enhancing metabolism to improve overall health and prevent the regaining of weight. 

READ: Nemaura Medical to Integrate data from third-party wearable devices into its proBEAT app

Nemaura said it believes these features could form a strong complement to the proBEAT subscription service it plans to offer in the US.

The Loughborough, UK-based company said it entered into the LOI to augment and fast-track its foray into the US and other global territories with its proBEA product — a wearable non-invasive glucose monitor designed to gather big data about the multitude of factors that affect glucose levels based on which predictive algorithms and artificial intelligence-based feedback and prompts can be provided to users. 

The aim is to empower users about the factors that could affect their blood glucose levels, and proBEAT is intended to be sold directly to consumers, to healthcare insurers, and to corporate clients. 

Nemaura said it expects that proBEAT will appeal to a broad range of adults encompassing pre-diabetics and Type 2 diabetics, numbering 88 million and 26 million people, respectively, according to the American Diabetes Association, as well as those seeking to lose weight and/or seeking a healthier lifestyle.

The company’s stock recently traded up by 1.6% to $9.62 a share in New York. 

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

 

Quick facts: Nemaura Medical Inc

Price: 5.54 USD

NASDAQ:NMRD
Market: NASDAQ
Market Cap: $126.79 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Nemaura Medical Inc named herein, including the promotion by the Company of Nemaura Medical Inc in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Nemaura Medical reveals details of upcoming European launch...

Nemaura Medical Inc (NASDAQ:NMRD) Vice President of Strategy & Strategic Alliances Dr Fred Schaebsdau tells Proactive the medical technology company is targeting a commercial launch for its flagship SugarBEAT continuous glucose monitor in the UK and in Ireland in January 2020. Dr...

on 10/08/2019

2 min read