Nuvo Group, a remote pregnancy monitoring company, has reached a significant milestone by finalizing its business combination with LAMF Global Ventures, transitioning into a public company listed on NASDAQ under the ticker symbol NUVO.
At the heart of Nuvo’s platform lies its INVU platform, an FDA-cleared pregnancy monitoring and management system that harnesses wearable technology, AI, and machine learning. INVU empowers both patients and healthcare providers by offering real-time insights into maternal and fetal health, thus bridging geographical gaps and ensuring access to quality care for expectant mothers.
The platform facilitates remote fetal non-stress tests (NSTs) conducted by clinicians, eliminating access barriers, reducing staffing burdens, and providing comprehensive data for informed decision-making. Through a wearable band and mobile app, INVU captures vital maternal and fetal parameters like heart rates and uterine activity signals, which are processed in the cloud and transmitted instantaneously for clinician evaluation.
“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.”
The business combination, which was approved at a special meeting of LAMF’s shareholders, held on April 1, 2024 and at an extraordinary general meeting of Nuvo shareholders on March 1, 2024, will enable Nuvo to access capital markets to fuel commercial growth, international expansion, and expedite its innovation pipeline.
Nuvo’s INVU platform, already in use by leading healthcare providers and research institutions in the US and Israel, aims to extend its footprint across Europe in 2024, subject to regulatory approvals.
