Nemaura Medical Inc. (NASDAQ: NMRD) stock surged by 135.32% at the last close while the NMRD stock rises by 10.13% in the pre-market trading followed by some recent developments in NMRD. Nemaura Medical Inc. is a medical equipment manufacturer that creates and sells non-invasive wearable diagnostic instruments. SugarBEAT and proBEAT are now available for purchase from NMRD.
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What is happening?
NMRD reported today that it has made strides with the German regulatory authority (GBA) in getting the sugarBEAT device reimbursed. SugarBEAT will head straight to the National Association of Statutory Health Insurance Funds for a listing on the durable medical catalog after the GBA has decided that it does not warrant GBA scrutiny. NMRD is currently working on the framework for this listing, which could be completed sooner than if a GBA analysis is needed.
Nemaura CEO Dr. Faz Chowdhury said that SugarBEAT’s arrival in Germany will be a significant achievement for Nemaura, so they are working closely with the relevant authorities to ensure that it is available as soon as possible. In the meantime, they’re working hard to find the right partner to help them sell and distribute their product and program in this critical market. NMRD will continue to provide updates on their progress as needed.
In addition to this,
On May 5, 2021, NMRD announced that its U.K. licensee, DB Ethitronix Ltd, had placed a purchasing order for 5,000 sugarBEAT transmitters and 200,000 sugarBEAT sensors, with a continuous monthly purchase order estimate of 15,000 transmitters and 2.1 million sensors for the next 24 months, with the option to raise volumes depending on customer feedback.
This order comes after DB Ethitronix’s soft launch of the sugarBEAT non-invasive glucose monitoring (CGM) system in the United Kingdom received positive reviews. DB Ethitronix has launched a diabetes treatment subscription package based on the sugarBEAT technology. Since sugarBEAT is the first daily-wear glucose tracking system in the world that allows consumers to track their glucose levels on their own time, customer experience has been highly positive, resulting in reduced prices for the end user. NMRD is progressing negotiations for joint launches in Germany, Saudi Arabia, and the United Arab Emirates, based on the popularity of the soft launch in the United Kingdom.