Itamar Medical Ltd. (NASDAQ: ITMR) revealed that it has acquired the technology and assets of Spry Health. Spry Health is best known for its services as a prominent developer of wrist-based medical-grade Remote Patient Monitoring (RPM) solution. ITMR has not disclosed the financial consideration of the deal yet.
Itamar Medical is continuously struggling to extend the diagnosis of sleep apnea from a single-night test to continuous remote patient monitoring (RPM). While searching for the solution which is aligned with the company’s vision, ITMR came to know about the existence of RPM Solution of Spry Health.
Itamar Medical Ltd. (NASDAQ: ITMR) share went down 0.38% as it lost -0.08 during the trading session of Monday. It has recorded a trading volume of 13.47K as compared to the average volume of 15.73K. Its share changed $7.82 during the 52-weeks low range and $29.00 during the 52-weeks high range. It has soared 167.77% from its 52-weeks low and plummeted to -27.79% during the 52-weeks high. Itamar Medical Ltd. has a total market capitalization of $297.02 million at the time of writing.
ITMR believed that the RPM solution of Spry Health is best to pursue the mission of the company. This new acquisition will offer the firm an opportunity to get the benefit of RPM technology of Spry Health which has also got the green signal from the FDA. Now, ITMR can bring a unique technology device to monitor the sleep apnea in patients remotely.
The wrist-worn technology and the talented team of Spry Health will reinforce the market presence of Itamar Medical Ltd. The device which is specifically developed for the wrist used to monitor the constantly added burden of sleep apnea and its possible influence on other diseases, such as cardiovascular conditions.
Sleep apnea is a serious respiratory condition that is affecting people around the world. Spry health’s RPM technology is the game changer to detect sleep apnea and its burden earlier in patients before it gets worst and offers better results.