Novant Health, Movano partner to beta test smart rings

Winston-Salem, N.C.- based Novant Health is partnering with Movano Health to beta test its smart rings with the health system’s employees.

As part of the beta, 30 Novant workers will test the “functionality and wearability” of the company’s rings, Movano’s first commercial product. The evaluation is slated to begin this month, and the program will help prepare Movano for a direct-to-consumer launch in the first half of 2023.

“Movano Health and Novant Health share the belief that healthcare should be simpler and more accessible, and we’re consistently looking for ways to improve our operations and ability to care for our patients remotely,” said Paula Kranz, vice president of innovation enablement at Novant Health, said in a statement. “We’re looking forward to our team members participating in the beta with Movano Health.”

THE LARGER TREND 

Movano first announced the Movano Ring early this year at CES 2022. At the time, it said it would track health metrics like heart rate, sleep, respiration, blood oxygen levels and activity. The company plans to reveal more details about its first commercial product at the upcoming CES in January.

During its third quarter earnings report, Movano said it would submit to the FDA for clearance to monitor heart rate and blood oxygen saturation. The company reported an $8.6 million net loss with no revenue during Q3, though it noted it was still developing and researching its technology.

This isn’t the only beta test for Movano’s ring wearable. Earlier this year, it announced a testing program with Stanford Health’s Applied Sports Science Department. Movano’s earnings report also detailed future beta programs with an unnamed pharma company and a medical device firm.

Founded in 2018, Movano emerged from stealth with a $10 million bridge funding round in 2020. At its public launch, the company said it was developing a continuous glucose monitor wearable that doesn’t require the user to break the skin with a needle or prick. It went public last year in a $48.9 million IPO. 

ON THE RECORD

“We believe our solution can serve as a tool consumers and healthcare professionals, like Novant Health, can use to proactively monitor and manage their health outside of visits to the doctor. Collecting feedback on our platform outside the lab, from medical industry professionals, will be an invaluable learning opportunity for us,” John Mastrototaro, Movano’s CEO, said in a statement.