Movano Health

Movano is developing a proprietary digital platform that combines a non-invasive and cuffless wearable device, radio frequency (RF) technology, and sensors to record patient vitals in real-time. The company claims that its painless and inexpensive wearable device is unlike many of the medical devices available in the market, which are still invasive (requiring cuffs and needles) in addition to being expensive.

The company plans to use its patent-pending RF technology to develop miniature, dynamic integrated circuits and proprietary algorithms that can be embedded into various devices, including a wearable, standalone phone case, ring, or skin patch. Movano’s flagship medical device is being developed to combine the features of a continuous glucose monitoring device and a cuffless RF blood pressure monitor into one wearable device. In November 2023, the company launched the smart ring, Evie, targeting the female health market. The ring measures all the basic patient metrics and its integrated app provides personalized insights and actionable advice using the collected data. 

As per its Q3 2024 financial update, Movano Health is in the final stage of the FDA review process for its EvieMED Ring, having recently submitted a complete response to clarifying questions on its medical features. 

In March 2021, the company’s stock began trading on the Nasdaq under the ticker symbol “MOVE.” For FY2023, the company reported a net loss of USD 29.3 million (down 3.4% YoY). 

Key customers and partnerships

In December 2022, the company partnered with healthcare provider Novant Health to conduct a beta test of the Movano Ring with Novant’s employees. Furthermore, in January 2024, Movano partnered with ams OSRAM to leverage the latter’s PPG sensor solution in the Evie Ring.