Itamar Medical Acquires Technology and Assets of Spry Health

• Enables Itamar to leverage Spry’s existing FDA-cleared technology to bring to market the first device for continuous remote patient monitoring (RPM) of sleep apnea
  
  
• Adds the capability to monitor the longer-term accumulated disease burden of sleep apnea to complement the single night diagnostics commonly used today, including the Company’s existing WatchPAT device
  
  
• Paves the way for an end-to-end digital care pathway that can further expand Itamar’s presence in obstructive sleep apnea (OSA) diagnostics and advance support for chronic cardiovascular and COPD disease management
  
  
• Provides market expansion opportunity in the growing home health monitoring solutions market and potentially leverage existing reimbursement codes for RPM to create new revenue opportunities and address a projected $2 billion market
  
  
• Delivers stream of continuous comprehensive patient bio-markers of sleep disorder patterns and their association with day-time physiological vital signs over time monitored in an easy to comply with watch-like device
  

CAESAREA, Israel, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Itamar Medical Ltd. (NASDAQ and TASE: ITMR), a leading medical device and digital health company focused on the integration of sleep apnea management into the cardiac patient care pathway, today announced that it has entered into a definitive agreement to acquire technology and assets of Spry Health for an undisclosed cash amount. Spry, based in the San Francisco Bay area, develops a wrist based medical grade remote patient monitoring (RPM) solutions.

“As we sought opportunities to build on our vision of expanding sleep apnea diagnostics from a single-night test to continuous remote patient monitoring, we identified the technology commercialized by Spry Health as a perfect fit,” said Gilad Glick, President and Chief Executive Officer of Itamar Medical. “The acquisition of their FDA-cleared, wrist-worn technology and the addition of a knowledgeable pool of selected talented engineers, led by Spry co-founder and CTO Elad Ferber, provides an excellent platform for us to jump start our development initiatives to bring to market a continuous sleep apnea monitoring device to further support chronic disease management, particularly as it contributes to the added burden on cardiovascular disease.