Nemaura (NASDAQ: NMRD), a medical technology company focused on non-invasive wearable sensors and personalized weight reduction programs, today announced the next commercialization stage of its proBEAT(TM) sensor and AI-based feedback platform, augmenting the BEAT(TM) diabetes program. Intended as a precursor to revenue-generating contracts for proBEAT, the pilots will commence over the coming weeks and months. “The expansion of the BEAT diabetes program into employers and insurers in the U.S. represents significant progress towards bringing more innovative diabetes care solutions to our target markets,” said Nemaura’s CEO Dr. Faz Chowdhury. “Importantly to Nemaura, this is a big step toward revenue generation with our proBEAT platform, and we aim to continue the momentum over the coming months and years. We spent a vast amount of time and resources optimizing and scaling our sensor manufacturing processes and it’s extremely fulfilling for the team to see their hard work come to fruition through these developments, bringing cost-effective solutions to the market.”
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About Nemaura Medical Inc.
Nemaura 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”) providing 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 PMA (Premarket Approval Application) for sugarBEAT to the U.S. FDA. proBEAT combines noninvasive glucose data processed using artificial intelligence under a digital health care subscription service 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, visit www.NemauraMedical.com and www.BEATdiabetes.Life.
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