– the solution to address needs in the $327 billion-dollar US diabetes market –
EDMONTON, March 28, 2022 — Health Gauge, has signed a License Agreement with MedWatch Technologies, Inc. of Las Vegas, Nevada and San Diego, California – whereby MedWatch has agreed to license Health Gauge’s patented health management technology (“Licensed Patent”) and proprietary software (“Licensed Software”) for use in non-invasive blood glucose and other blood chemistry monitoring solutions for the diabetes and health and wellness market.
Randy Duguay, CEO of Health Gauge, stated, “Health Gauge welcomes the opportunity to work with MedWatch to help address the diabetes epidemic in North America using our specialized monitoring and AI-based software and resources. By licensing Health Gauge’s patented technology and software solutions, MedWatch users will be able to further their objectives in non-invasive blood glucose monitoring – enabling people to better monitor and control their diabetes. In the United States alone, there are 122 million people living with diabetes or pre-diabetes. Moreover, it is estimated that only 1 in 5 individuals with diabetes are aware of their diabetes, meaning that the majority of diabetes patients are not receiving adequate treatment. Together MedWatch glucose monitors and Health Gauge patented solutions can be used to help patients better monitor their diabetes, while improving understanding of how lifestyle habits are impacting their health, leading to improved patient outcomes and management.”
“We are pleased to announce we’ve signed a license with Health Gauge that enables us to make use of their proprietary technology covering the design and functionality of biometric sensors to gather required information for glucose determination,” stated Mike Moore, CEO of MedWatch Technologies. “Additionally, we have licensed the use of the Health Gauge best in class health monitoring and management software platform that will provide us a turn-key cloud-based solution for users of our glucose monitoring devices. We are excited to establish this relationship with Health Gauge and look forward to the opportunities it provides us.
Key terms of the License Agreement include:
Agreement Term: Initial term is 7 years, with automatic renewal terms on review over the life of the licensed patent.
Annual License Fee: MedWatch will pay Health Gauge an Annual License Fee of US$120,000 per year (plus royalties) for the License Agreement term,
Royalties: MedWatch will pay Health Gauge a royalty of two percent (2%) of gross sales of all MedWatch products that rely on the Licensed Patent and/or Licensed Software, anticipated to equate to US$5.00 to US$8.00 per device sold MedWatch will pay Health Gauge additional royalties of gross sales for other software services that may be provided as a value-added solution.
Medwatch's Health Mission
Our mission is to make life better for people suffering from diabetes and other blood sugar issues, making blood glucose monitoring easier, cheaper and far less painful. We will fulfill our mission by creating successful, profitable commercial products transforming the lives of patients with diabetes. Our products will revolutionize the way people living with diabetes monitor their glucose levels and give them new tools which will make it much easier for them to continuously adjust their diet and lifestyle in response to their immediate glucose condition.
In essence, we are in the business of enhancing the health and wellbeing of people with chronic disease using unique technologies, innovative information services and simple ways of integrating that technology into their lives.
About Health Gauge Patented Technology
Health Gauge patented technology provides a personal health monitoring & management system, that combines the latest wearable health monitors with sophisticated artificial intelligence software tools and proprietary cloud computing software, to help caregivers, patients, and healthcare professionals access and utilize relevant data, resulting in better recovery outcomes and healthy living objectives through the ability to make immediate and better health choices. www.healthgauge.com
*The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.
Cautionary and Forward-Looking Statements: Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of competition by other industry players, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the ability to raise additional capital as may be needed in the future. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.