Movano Health Receives FDA Clearance for EvieMED Ring

Core Insights - Movano Health has received FDA 510(k) clearance for its EvieMED Ring, which opens up a total addressable market (TAM) of $40 billion in healthcare B2B opportunities [1][2] - The EvieMED Ring is designed to provide clinical-grade health monitoring solutions for applications such as clinical trials and remote patient monitoring, targeting pharmaceutical companies, medical device manufacturers, and payors [2][3] Company Developments - The company is currently in the agreement phase with a large payor for a pilot study related to high-risk populations, expected to commence in early 2025 [2] - Movano Health is also in discussions with a global pharmaceutical company and a leading clinical research organization (CRO) for the use of the EvieMED Ring in upcoming clinical trials [2] - The EvieMED Ring has been selected for a study at MIT focusing on long COVID and chronic Lyme disease [2] Product Features - The EvieMED Ring combines the accuracy of a medical device with the comfort of a wearable, addressing shortcomings of conventional pulse oximeters [3] - It measures blood oxygen levels and heart rate, while also collecting wellness metrics such as sleep, activity, temperature variability, calories burned, and respiration rate [4] - The device is available in eight sizes to accommodate a wide range of patients [4] Future Plans - Movano Health aims to accelerate the distribution of the EvieMED Ring and is looking to secure additional FDA clearances for other health metrics [3] - The company is exploring opportunities to leverage proprietary radio frequency technology for cuffless blood pressure and noninvasive glucose monitoring [3]