Nemaura Medical (Nasdaq:NMRD) announced that it received a purchase order for 5,000 proBEAT glucose sensor subscriptions.
HealthFleet, a U.S.-based telehealth provider, made the purchase order. It consists of 75,000 proBEAT glucose sensors over an initial five-month period. Nemaura values the deal at $500,000 in revenue, while HealthFleet possesses the option to increase volumes based on customer response.
It marks Loughborough, England-based Nemaura’s first partnership deal in the U.S.
The HealthFleet RestoreHealth program offers coaching, targeted content and curriculum and detailed reporting across chronic conditions. HealthFleet has a ready-made market through direct access to a large customer base, Nemaura said in a news release.
“The HealthFleet purchase order is our first collaboration in the United States, and provides an important opportunity to potentially improve outcomes for people with type 2 diabetes by integrating our proBEAT platform into HealthFleet’s RestoreHealth program,” said Nemaura CEO Dr. Faz Chowdhury. “We are confident that our proprietary sensor technology can improve patient engagement and potential outcomes in the RestoreHealth program, and believe that the improved outcomes to be seen in this pilot can help to position this as the program of choice across the U.S. health economy.”
How Nemaura’s glucose monitors fit into HealthFleet’s offering
Nemaura aims to utilize the clinical benefits of feedback from glucose monitors for weight loss and type 2 diabetes reversal. It also wants to meet increasing demand from program providers to differentiate beyond diabetes to overall health and wellness.
The company said it is running pilot studies integrating proBEAT sensors as part of a metabolic health and wellbeing program in partnership with the UK’s National Health Service.
Members using the RestoreHealth program for 12 months achieved positive health results, the company said. That includes a 5.1% average weight loss and a significant decrease in HbA1c, among other metrics. Nemaura said its collaboration combines two “best-in-class” organizations creating a unique offering.
The company added that it expects incremental health benefits for HealthFleet users through the integration of proBEAT sensors.
“We expect the integration of Nemaura’s glucose sensor will further enhance RestoreHealth’s proven outcomes in the areas of diabetes reversal, weight loss, and overall metabolic health,” said Cheryl Morrison-Deutsch, president and CEO of HealthFleet. “Obesity and diabetes are a burden on the U.S. healthcare economy, and our work with Fortune 500 companies has proved that our program can make significant and sustainable savings to employers and insurers. We look forward to increased returns for our clients and better health outcomes and quality of life for our members.”