Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on developing and commercializing noninvasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announced its receipt of a provisional purchase order from TPMENA, its MENA (Middle East/North Africa) licensee for the company’s sugarBEAT(R) system. The order, which is contingent on receipt of Kingdom of Saudi Arabia (“KSA”) registration, is for 17,500 devices and 1.7 million sensors, with 7,500 devices and 700,000 sensors in the first year following launch in KSA and 10,000 units and 1 million sensors in the second year. “We believe the Middle East, and Saudi Arabia in particular, represents a significant opportunity for Nemaura and its partner TPMENA, given the high rates of type II diabetes in the region,” said Nemaura CEO, Dr. Faz Chowdhury. “We have worked closely with TPMENA over the past year to get all language translations and packaging ready and are eager to launch our affordable and patient-friendly monitoring solution for diabetes in the region.”
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About Nemaura Medical Inc.
Nemaura is a medical technology company developing and commercializing non-invasive 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 PMA (Premarket Approval Application) for sugarBEAT to the U.S. FDA. proBEAT combines non-invasive glucose data processed using artificial intelligence and a digital health care subscription service in the U.S. as a general wellness product as part of its BEAT(R) diabetes program that is currently undergoing pilot studies. 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 the company’s website at 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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