TEL AVIV, Israel, June 26, 2018 /PRNewswire/ -- Nuvo Group, LTD, an emerging leader in maternal-fetal connected health, today announced it has raised $30 million in financing to date led by the German investment advisory group, Shareholder Value Management AG, whose mandates have invested $13 million in the company. Additionally, Daniel Gilcher, an Analyst at Shareholder Value Management, has been named to the Nuvo Group Board of Directors.
The new financing will enable Nuvo to accelerate development of its innovative platform and begin to demonstrate commercial proof of principle for a breakthrough approach to pregnancy management that will deliver more continuous, consistent, and connected care for expectant parents and healthcare professionals.
"We are forging a revolutionary approach to maternal-fetal health by creating a new generation of technology enabled solutions that encapsulate Artificial Intelligence, Big Data, and machine learning in wearable devices specifically designed for remote monitoring," said Oren Oz, CEO of Nuvo Group. "Our advanced technologies are creating opportunities to vastly improve a segment of healthcare that has remained largely unchanged for decades. In doing so, Nuvo Group is transforming the experience of pregnancy by connecting mothers and physicians to real time information to enable physicians to better manage the experience for both mothers and babies while reducing cost to health systems. "
"Nuvo Group's innovative approach to maternal-fetal connected health represents an extremely compelling investment opportunity for Shareholder Value Management thanks to its unique and difficult to replicate combination of medical device technology and scalable software and analytics," said Daniel Gilcher, an Analyst at Shareholder Value Management. "I am pleased partner with Nuvo Group's leadership to shape the organization's success. I firmly believe that Nuvo Group is on the verge of a scientific revolution, one not commonly seen outside a university setting, and will undoubtedly help push the science of pregnancy management and raise the standards of maternal-fetal care for many years to come."
The Nuvo Group team of experts is committed to developing cutting-edge technologies that will advance pregnancy care today and create new frontiers in maternal fetal medicine. Their proprietary data and analytics platforms, combined with their cost-effective product alternatives to traditional monitoring solutions, will have an immediate impact on how maternal-fetal care is delivered and accessed by both the patient and by medical professionals.
"In bringing medical grade solutions to the consumer, in this case to expectant mothers, Nuvo Group is enabling women to connect virtually with their physicians in real time, as needed, throughout their pregnancy," continued Oz. "As a result, physicians will now have plentiful data points and increased opportunities to observe changes, evaluate trends, and ultimately make more informed decisions about intervention that will impact not just one patient but also have implications for population health"
About Nuvo Group, LLC
Nuvo Group is committed to transforming pregnancy care for a new generation. Proprietary software solutions combined with innovative product design utilize big data analytics to optimize pregnancy healthcare on a global scale. Nuvo Group leadership is comprised of dedicated data engineers, medical professionals, software designers, and proud parents who share a collective vision to create new solutions for both patients and doctors, creating an immediate impact on maternal care worldwide. Nuvo Group's initial product offering for healthcare providers is currently undergoing clinical investigation to support FDA clearance and is not yet available for sale in the United States.
For more information, visit: www.nuvo-group.com
SOURCE Nuvo Group