Nemaura up on purchase order for wearable glucose monitor from HealthFleet

Nemaura Medical

26/01/2023 15:50

** Shares of medical device maker Nemaura Medical Inc
 NMRD.O  up 10.6% at $2.9
    ** Co receives an initial purchase order for 5,000 proBEAT
subscriptions from U.S. telehealth provider HealthFleet Inc 
    ** proBEAT is NRMD's proprietary daily-wear adhesive glucose
monitor, which combines non-invasive glucose data processed
using AI and a digital healthcare subscription service
    ** NMRD to integrate its glucose sensors with HealthFleet's
proven wellness program targeted at U.S. market
    ** Purchase order consists of NMRD's 75,000 glucose sensors
over an initial five-month period and is valued at $500,000 in
revenue 
    ** Under terms, HealthFleet has an option to increase
volumes based on customers' response
    ** NMRD stock fell ~62% in the past 12 months 
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))