NEW YORK, January 24, 2012 /PRNewswire/ --
SPO Medical Inc. (SPOM), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, announced today an update to its shareholders on the Company's product and revenue generation strategy for fiscal 2012 primarily based on the completion of development and launch of a new range of consumer wellness devices.
SPO currently has three products in development stage which utilize the Company's proprietary intellectual property portfolio. SPO anticipates revenue generation via a recently contracted strategic distribution partner for its consumer wellness bracelet to commence during the second half of 2012.
The products under development are:
(i) A new and unique consumer wellness bracelet designed to measure a person's overall daily activity level, especially useful for the overweight or obese. The wellness bracelet, both for children and adults, contains innovative features including display functionality and a time-piece which continuously measures the number of daily activities and calories burned against a recommended goal.
(ii) A sports and wellness wristwatch using SPO' vital sign technology for continuous heart rate measurement, which negates the need for the traditional chest-strap currently being used by most sports watch manufacturers. The ability to accurately and reliably measure heart-rate from the wrist area during motion has been a major challenge for the sports watch industry which typically required a chest-strap for acquiring continuous heart-rate readings.
(iii) An innovative home-baby monitoring device for continuous measurement of wellness information to the parent or caregiver, while the baby is sleeping. This parental reassurance tool gives the company a technological competitive edge in providing an innovative, high performance solution for a market application that is applicable to most family homes.
Michael Braunold, Chief Executive Officer of SPO commented: "The general wellness sector is a mass-market opportunity for our technology, enabling monitoring of information in conjunction with leisure related activities. In addition, our baby monitoring product will add a new element to parental reassurance. Our strategy is to partner with consumer product manufacturers and distributors to enable our innovative bracelet, sports watch and baby monitoring products to be manufactured and commercialized at a time when the market is actively seeking solutions to wellness problems facing society as a whole."
SPO (SPOM) is a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices to capture life-enhancing information within four key markets: medical care; sports and wellness; homecare monitoring and security. Its patented technology uses information gathered from the reflectance of light on the human body, in a noninvasive manner, to monitor key vital signs. The company manufactures its products in addition to licensing its technologies to appropriate client corporations for commercialization and distribution. For more information, visit http://www.spoglobal.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, timing of new product launches, success of the Company's rebranding program, product performance, size of prospective markets, revenue assessments, marketing strategies, success of our restructured operations and plans, our ability to generate fees or raise capital to support our business operations and plan, the sufficiency and availability of working capital, changes in economic conditions generally and in more specifically, the introduction of competing products, changes in our operating strategy or development plans patent protection for our products and technologies, changes in economic conditions generally and in more specifically, in the markets we operate, changes in technology, legislative or regulatory changes that affect us 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, 2010. We undertake no obligation to revise or update any forward-looking statement for any reason.
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SOURCE SPO Medical Inc.