- Nemaura Medical is a medical technology company focused on developing non-invasive wearable diagnostic devices
- The company recently announced the rollout of its Miboko application by targeting insurers and employers
- In 2019, over $760 billion was spent on diabetes-related health care, equating to $9,000 per diabetic patient compared to $1,600 for a non-diabetic individual
- The Miboko application provides users with an efficient and accurate means of tracking their day-to-day glycaemic levels, a key determinant of overall metabolic health
Nemaura Medical (NASDAQ: NMRD), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, announced that it would launch Miboko, the company’s new metabolic health program using a non-invasive glucose sensor, for the use of employers and insurers worldwide. Nemaura Medical aims to promote the broad penetration and adoption of the Miboko device as a form of preventative medicine for a broad user base. The company opts to pursue the above commercial distribution channels to ensure the device’s successful rollout and adoption (https://ibn.fm/Yd5xE).
Over 420 million people globally are currently living with diabetes, with prediabetic cases totalling almost three times that number. Meanwhile, and in the US alone, over $760 billion was spent on diabetes-related health care expenditures during 2019, equating to an average annual spend upwards of $9,000 per diabetic patient compared to approximately $1,600 for a healthy individual (https://ibn.fm/TBsWX). (https://ibn.fm/CB4Bj). (https://ibn.fm/kO7KB). (https://ibn.fm/HCUgW).
The Miboko application, a service offering that has been in development over the past 18 months, uses a non-invasive glucose sensor to measure and monitor users’ blood sugar levels, which are based on glucose tolerance or insulin resistance. The device is then linked to an AI mobile application, which seeks to provide users with personalized information by tracking their metabolism. Users will be able to find out how well their body responds to sugar through their metabolic health score — and how what they eat and what they do every day uniquely affects their metabolic health.
Nemaura Medical believes the Miboko application could address a significant mass-market opportunity, benefitting roughly a third to half of the global population. The human body’s ability to metabolize sugar has been a key influential factor in determining one’s appetite, weight, sleep quality, and energy and mood levels and even plays a critical factor in chronic diseases (beyond just diabetes) like heart disease and dementia.
“Introducing Miboko to the population at-large through employers and insurers will allow Nemaura to reach a much wider audience in a much faster fashion than solely relying on a direct-to-consumer campaign, and in the Western world, these institutions are the most reliable gateway toward wider adoption of preventative health maintenance practices,” commented Nemaura CEO Dr. Faz Chowdhury.
In addition to following their day-to-day metabolic health on the application, Miboko users will also receive weekly and monthly reports that show and explain their body’s unique metabolic health score whilst providing a breakdown of how each of their habits impacts their overall health and wellbeing.
Historically, diabetic and near-diabetic patients have monitored their blood sugar levels by collecting blood capillary samples, which have subsequently been analyzed by an accredited laboratory (https://ibn.fm/zIK2Z). Through the launch of the Miboko application, Nemaura Medical has sought to democratize access to blood sugar testing, enabling millions of individuals around the world to quickly, accurately and painlessly track their glycaemic levels – a significant step towards ensuring their long-term health.
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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