Navigation Links
SPO Medical Secures Agreement in Sleep Apnea Market
Date:3/9/2010

NEW YORK, March 9, 2010 /PRNewswire-FirstCall/ -- SPO Medical Inc. (SPOM), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, today announced it has signed a Memorandum of Understanding (MOU) with MetroSleep Inc, a US corporation that specializes in products to diagnose and treat sleep apnea through at-home testing. The MOU enables the integration of SPO Medical' ASIC chip-set technology in a new MetroSleep product offering for the Sleep Disturbance Breathing (SDB) monitoring market. The terms include an advance licensing fee and a subsequent royalty payment to SPO once the products are commercially available. In addition, MetroSleep will remunerate SPO on a usage-fee basis via SDB devices that are deployed by MetroSleep in the market. The MOU provides that the parties shall enter into legally binding agreements upon MetroSleep receiving required funding for launch of the products.

Michael Braunold, President and Chief Executive Officer of SPO Medical commented: "The arrangement with MetroSleep further demonstrates the value of our proven technology into mass-market applications. The home testing market is an excellent opportunity for integration of our technology, enabling monitoring of those who suffer from undiagnosed sleep-apnea in the comfort of their home without the need for expensive and inconvenient sleep-laboratory testing. Sleep apnea affects more than 40 million people in the United States alone of which 85% are currently undiagnosed, making it the most common sleep disorder - our partnership with MetroSleep will help bring a cost-effective solution to this vast market."

Haim Zitman, President of MetroSleep commented: "We decided to partner with SPO as our technology provider for oximetry measurements since this constitutes a vital part of our multi-channel home diagnostic system. We are uniquely poised to capitalize on the fast-growing sleep apnea testing and therapy market that is expected to reach more that $4 billion by 2012. MetroSleep together with SPO's technology could play a leading roll in the emerging home-test market especially since reimbursements are now permissible for this application; we will now be able to offer individuals a more convenient, cost-effective sleep test and therapy experience."

SPO Medical Inc. recently announced its intention to focus primarily on OEM and licensing arrangements going forward to maximize the potential for commercialization of its patented reflectance pulse oximetry in various markets. Braunold continued; "We continue to seek mass-market applications for our technology platform through commercial relationships with entities that can best maximize our deliverable. We believe MetroSleep has identified such a market sector and opportunity which can add further strength to our Company and its offering, which in turn contributes to potentially increasing value for the SPO Medical shareholders."

About SPO Medical:

SPO Medical (SPOM) a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices to capture life-saving and life-enhancing information within four key markets: medical care; home and remote-care; sports and wellness; and safety and security. Its patented technology uses information gathered from the reflectance of light on the human blood stream, in a non-invasive manner, to monitor key vital signs. The Company licenses its technologies to appropriate client corporations for commercialization and distribution. For more information, visit http://www.spomedical.com and http://www.spobaby.com.

Forward Looking Statements:

This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, market acceptance of our products and new product applications, product performance, size of prospective markets, revenues assessments, patent protection for our products and technologies, changes in economic conditions generally and the medical devices market specifically, changes in technology, legislative or regulatory changes that affect us, the sufficiency and availability of working capital, the introduction of competing products, changes in our operating strategy or development plans and the risks and uncertainties discussed under the heading "Risk Factors" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2008. We undertake no obligation to revise or update any forward-looking statement for any reason.

    SPO Medical Contact:
    Michael Braunold, Chief Executive Officer
    investors@spomedical.com
    +1-866-991-7766

SOURCE SPO Medical Inc

Back to top
'/>"/>
SOURCE SPO Medical Inc
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Outreach Program to Increase Awareness of New Advances in Biomedical Research to Treat Down Syndrome Cognitive Impairment
2. China Sky One Medical to Attend Rodman & Renshaw Annual China Investment Conference
3. BioMS Medical reports Spectral receives FDA approval to initiate pivotal trial and closes financing for $19.5 million
4. China Medical Technologies Reports Third Fiscal Quarter Financial Results
5. Concord Medical to Report Fourth Quarter and Fiscal Year 2009 Unaudited Financial Results on Thursday, March 18, 2010
6. Riemer Named President of Medical Device Manufacturer MRPC
7. China Sky One Medical Confirms Continued Sale of Seven of Eight Products on the Ministry of Healths Warning List
8. TEI Biosciences PriMatrix(TM) Awarded Seal of Approval by American Podiatric Medical Association
9. Covidien Announces New Source of Vital Medical Isotopes
10. Daiichi Sankyo, Inc. Names Dr. Jay Feingold Vice President, Medical Affairs
11. NIH Director Francis Collins to Speak at National Press Club February 26 on A New Era of Quantum Leaps in Biomedical Research
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/28/2017)... ... March 28, 2017 , ... ... development of a new orally administered treatment for Alzheimer’s disease (AD), today announced ... Didsbury states, “As we seek to uniquely treat the metabolic dysfunctions inherent in ...
(Date:3/27/2017)... ... March 27, 2017 , ... Biopsies from non-small cell ... with limited tumor content in a large background of normal or wild type ... need for reliable detection of low abundance somatic mutations, particularly in small specimens ...
(Date:3/27/2017)... ... ... PMG Research is pleased to announce its participation in the 2nd ... Boston on April 3-4, 2017. The CTC conference focuses on how the industry is ... closer to the patient. Clinical Trial Collaborations also will present an inaugural conference on ...
(Date:3/24/2017)... 2017 MiMedx Group, Inc. (NASDAQ: MDXG), the ... tissue allografts and patent-protected processes to develop and market ... announced today  that it will present at the Needham ... NY.  Parker H. "Pete" Petit, Chairman and CEO, ... M. Cashman , EVP and Chief Commercialization Officer, and ...
Breaking Biology Technology:
(Date:3/22/2017)... Vigilant Solutions , a vehicle location ... announced today the appointment of retired FBI special agent ... business development. Mr. Sheridan brings more than ... focus on the aviation transportation sector, to his new ... Sheridan served as the Aviation Liaison Agent Coordinator (ALAC) ...
(Date:3/16/2017)... - Against identity fraud with DERMALOG solutions "Made in Germany "  ... ... multi-biometric solutions provide a crucial contribution against identity fraud. (PRNewsFoto/Dermalog Identification Systems) ... Used combined in one project, multi-biometric solutions provide a crucial contribution against identity ... ...
(Date:3/9/2017)... VIEW, Calif. , March 9, 2017 ... 23andMe , the leading personal genetics company, are using ... now provide customers with personalized nutrition plans that consider ... but also genetic markers impacting how their body may ... food decision support platform uses biometrics such as Body ...
Breaking Biology News(10 mins):