FemTech: Nuvo Goes Public to Expand Remote Pregnancy Monitoring


May 6, 2024

Nuvo Goes Public to Expand Remote Pregnancy Monitoring

This article originally appeared on HIT Consultant: https://hitconsultant.net/2024/05/06/femtech-nuvo-goes-public-to-expand-remote-pregnancy-monitoring/

FemTech: Nuvo Goes Public to Expand Remote Pregnancy Monitoring

by Jasmine Pennic 05/06/2024

What You Should Know:

Nuvo Group D.G. Ltd. (NASDAQ: NUVO) (“Nuvo”), a leader in remote pregnancy monitoring, today announced the successful completion of its business combination with LAMF Global Ventures Corp. I (NASDAQ: LGVC, LGVCU, LGVCW) (“LAMF”), a publicly traded special purpose acquisition company (SPAC).

– As part of the business combination, Nuvo will retain its name and existing management team, trading on the NASDAQ under the ticker symbol “NUVO” starting May 2nd, 2024.

Transforming Pregnancy Care with INVU™

Nuvo’s innovative INVU™ platform addresses health disparities by providing expectant mothers with accessible, high-quality prenatal care. This FDA-cleared system utilizes wearable technology, artificial intelligence (AI), and machine learning to empower both patients and healthcare providers with real-time insights into maternal and fetal health.

Key Features and Benefits of INVU™:

  • Physician-prescribed and FDA-cleared
  • Enables remote fetal non-stress tests (NSTs) for improved accessibility
  • Reduces burdens on healthcare staff
  • Provides real-time data for better clinical decision-making
  • Utilizes a wearable band and mobile app for data collection
  • Streamlines data processing and transmission for clinicians

Business Combination Benefits

This business combination allows Nuvo to tap into capital markets for:

  • Expanding commercial operations in the US and Israel
  • Fueling international expansion, including European market entry in 2024 (pending CE mark approval)
  • Accelerating the development of its innovative pipeline

“Nuvo is committed to solving the inherent problems of a broken pregnancy care system by enabling access to quality care with advanced remote monitoring technology,” said Rice Powell, CEO of Nuvo. "Becoming a public company provides us with the resources to redefine pregnancy care and address health disparities by ensuring that all expectant mothers can receive timely and accurate care, regardless of their background or location.”

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