Nemaura signs letter of intent to acquire Healthimation

28 July 2020 (Last Updated July 28th, 2020 11:02)

UK-based medical technology company Nemaura Medical has signed a letter of intent to acquire American digital health company Healthimation.

Nemaura signs letter of intent to acquire Healthimation
Nemaura’s proBEAT is a wearable non-invasive glucose monitor that is developed to collect information about factors that affect glucose levels. Credit: Khakimullin Aleksandr / Shutterstock.

UK-based medical technology company Nemaura Medical has signed a letter of intent to acquire American digital health company Healthimation.

Healthimation is commercialising an application-based diabetes prevention programme that has been developed over a period of over 12 years.

The programme is aimed at maintaining muscle mass and improving metabolism to boost overall health and prevent the regaining of weight. It uses Hollywood-level animation to facilitate creative user engagement strategies.

The features are expected to act as a strong complement to Nemaura’s proBEAT subscription service, which the company plans to launch in the US.

proBEAT is a wearable non-invasive glucose monitor that is developed to collect information about factors that affect glucose levels.

Based on the collected information, the device offers predictive algorithms and artificial intelligence-based feedback and prompts to the users.

It is intended to be sold directly to consumers, healthcare insurers and corporate clients.

Nemaura expects that proBEAT will appeal to a broad range of adults, including pre-diabetics and Type 2 diabetics, as well as people seeking to lose weight or looking for a healthier lifestyle.

According to the American Diabetes Association, there are approximately 88 million pre-diabetics and 26 million Type 2 diabetics patients in the US.

Nemaura signed the letter of intent to accelerate the entry into the US and other global territories with the proBEAT product offering.

The company secured European CE-Mark for the SugarBEAT continuous glucose monitor (CGM) in May last year.

SugarBEAT offers actionable insights derived from real-time glucose measurements and daily glucose trend data. Nemaura has submitted a PMA application for the device to the US Food and Drug Administration (FDA).