Biosensor developer SPO Medical Inc. (Bulletin Board: SPOM) has signed an Memorandum of Understanding (MOU) with SporTracker Ltd., an Israeli company that integrates heart-rate monitoring with consumer audio and leisure devices. SPO Medical's monitoring technology will bundle its monitoring technology with SporTracker's products.
SPO Medical has developed non-invasive monitor of blood oxygen levels. To avoid the intense competition in the medical devices market, the company targets the consumer products market, such as devices for sports medicine and to prevent crib death of infants.
SPO Medical was founded by Israel Sarussi, who is now CEO of SPO Medical Systems Ltd., which manufactures and markets under license SPO Medical's PulseOx monitoring devices at its Kfar Saba premises.
SPO Medical president and CEO Michael Braunold told "Globes", "Our product is one a range of products that uses an LED detector to measure blood oxygen levels. However, while other products have to deliver the light beam through the body to take the measurement, our product is reflexive; in other words, it can obtain information from the refracted light beam, so the both the receiver and emitter can be on the same spot."
In the beginning, SPO Medical's technology made low prices possible, and lengthened battery life. But products imported from the Far East were cheaper and effective, so even though the company achieved $200,000 in sales to date, its future was in doubt."
"Our technology enables us differentiation, which is relevant in fields outside the classic healthcare market," added Braunold to explain why he predicts a bright future for the company.
"We are the only company that can replace the inconvenient finger device with a product that can be placed on the forehead, under a sportsman's sweatband, or on the chest of an infant to monitor a halt in breathing in order to prevent crib death."
SPO Medical recently scaled back its manufacturing and marketing activity, and now mainly sells its technology as a component for other companies' devices, as in the case with the SporTracker deal.
SPO Medical's share jumped 23% in early trading on Nasdaq to $0.08, giving a market cap of $2 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2010
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