Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, recently completed the initial shipment of its sugarBEAT(R) continuous glucose monitor (“CGM”) devices to its U.K. licensee, MySugarWatch Limited. “MySugarWatch will market the sugarBEAT product under the MySugarWatch(R) brand and has developed a subscription-based diabetes coaching and management service packaged alongside the sugarBEAT monitor and related device sensors, an offering directed towards individuals diagnosed with type 2 diabetes,” reads a recent article. Previously placing an initial order for 5,000 CGM devices and 200,000 sensors, MySugarWatch anticipates a rolling monthly forecast of up to 2 million sensors and 15,000 CGM devices over the next two years, to target the over 4.9 million diabetics currently in the U.K. and 13.6 million at increased risk of contracting type 2 diabetes. “This initial shipment of sugarBEAT(R) CGM devices to our U.K. licensee allows the company to now recognize revenue for the first time in our corporate history and is a true milestone in our development and growth,” the article quoted Nemaura CEO Dr. Faz Chowdhury as saying. “Starting in the U.K., patients with type 2 diabetes can now benefit from a less invasive glucose monitoring option that should improve patient lifestyle, adherence and outcome.”
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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 non-invasive and flexible continuous glucose monitor (“CGM”) providing actionable insights derived from real-time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse and prevent the onset of diabetes. Nemaura has submitted a Premarket Approval Application (“PMA”) for sugarBEAT to the U.S. FDA. proBEAT combines non-invasive glucose data processed using artificial intelligence and a digital health care subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT(R) diabetes program. The company sits at the intersection of the global type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023. For more information, please visit www.NemauraMedical.com.
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