Novant Health partners with Movano to beta test smart rings
Novant Health, based in Winston-Salem, North Carolina, partners with Movano Health to beta test its smart rings with healthcare system employees.
As part of the beta, 30 Novant employees will test the “functionality and wearability” of the company’s rings, Movano’s first commercial product. Evaluation is expected to begin this month, and the program will help prepare Movano for a direct-to-consumer launch in the first half of 2023.
“Movano Health and Novant Health share the belief that healthcare should be simpler and more accessible, and we are constantly looking for ways to improve our operations and our ability to care for our patients remotely,” said Paula Kranz. , vice president of innovation enablement at Novant Health, said in a statement. “We look forward to our team members participating in the beta with Movano Health.”
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Movano first announced Movano’s ring earlier this year at CES 2022. At the time, he said he would track health metrics such as heart rate, sleep, breathing, blood oxygen levels and activity. The company plans to reveal more details about its first commercial product at the upcoming CES in January.
During his third quarter earnings report, Movano said it would submit to the FDA for approval to monitor heart rate and blood oxygen saturation. The company reported a net loss of $8.6 million without revenue during the third quarter, although it noted that it was still developing and researching its technology.
This isn’t the only beta test for Movano’s wearable ring. Earlier this year he announcement a testing program with Stanford Health’s Department of Applied Sports Science. Movano’s earnings report also detailed future beta programs with an anonymous pharmaceutical company and a medical device company.
Founded in 2018, Movano emerged from stealth with a bridge funding round of $10 million in 2020. At its public launch, the company said it was development a portable continuous glucometer that does not require the user to pierce the skin with a needle or prick. It was made public last year in a $48.9 million IPO.
“We believe our solution can serve as a tool that consumers and healthcare professionals, like Novant Health, can use to proactively monitor and manage their health outside of doctor visits. Collecting feedback on our platform outside of the lab, with medical industry professionals, will help be an invaluable learning opportunity for us,” said John Mastrototaro, CEO of Movano, in a statement.