Nuvo Group Ltd., the creators of INVU by Nuvo™ – a revolutionary and FDA-cleared remote pregnancy monitoring platform – and LAMF Global Ventures Corp I (NASDAQ: LGVC) are pleased to announce that they have entered into a non-binding letter of intent with the aim of creating a publicly listed company.
Upon closing of the proposed transaction, the combined entity is expected to be listed on Nasdaq under the ticker “NUVO”, giving investors the opportunity to benefit from Nuvo’s innovative technology.
Nuvo is revolutionizing pregnancy care with INVU by Nuvo, an FDA-cleared and prescription-initiated remote pregnancy monitoring platform. INVU enables the delivery of remote Non-Stress Tests (NSTs) and maternal & fetal heart rate monitoring, so that expectant parents can stay on top of their prescribed care plan from the comfort of their own home. This cutting-edge technology is set to revolutionize the way women receive care during their pregnancy.
INVU is revolutionizing the way expectant parents and their OB care team interact, by allowing them to stay connected during the entire pregnancy journey. With two FDA clearances, this innovative platform shifts the point-of-care to the expectant mom, enabling her to access high quality care from anywhere. With INVU, expectant parents can now experience a connected care experience like never before.
Nuvo is revolutionizing healthcare with its multi-channel commercial strategy, having recently signed U.S. relationship agreements with leading healthcare providers such as Penn Medicine, Axia Womens’ Health, Banner Health, Ouma, and Babyscripts.
Furthering its global reach, Nuvo has also forged agreements with renowned university hospitals, including Charite University Hospital in Europe and Sheba Medical Center in Israel – renowned for their maternity care expertise. With these strategic partnerships, Nuvo is poised to make a powerful impact in the healthcare industry worldwide.
The parties involved are working towards a business combination that is expected to close during the second half of 2023, provided definitive agreements are executed as planned.
Kelly Londy, an accomplished healthcare professional with an impressive history of commercializing FDA-approved medical devices, will be at the helm of the newly formed public company. She started her career with the University of Michigan Hospitals and then went on to experience success in GE’s medical systems and healthcare divisions, as well as Philips Healthcare North America.
Her past c-suite positions include COO at Accuray Inc. and CEO of Innoblative Designs Inc. and Lumicell, Inc. With her wealth of experience, Mrs. Londy is poised to lead the combined public company to success.
Mrs. Londy believes that the Nuvo – LAMF partnership will be a game-changer in women’s health and pregnancy care, bringing much-needed investment and innovation to address the concerning trends in health outcomes, access to care, and cost of care delivery.
If the business combination is consummated, the access to capital will enable Nuvo to grow and scale their product offerings and geographic reach, providing pregnant mothers and clinicians with better care and setting the standard of care for pregnancy.
Partnership with LAMF
Jeffrey Soros and Simon Horsman, alongside their NYC-based asset manager 10X Capital, are thrilled to be partnering with Nuvo in their pursuit of a business combination. Nuvo’s unique at-home, remote monitoring technology for prenatal care has the potential to revolutionize the way pregnant couples receive care.
With their impressive portfolio of relationships in media, entertainment, and healthcare, the team is confident that Nuvo’s products will be in high demand from both doctors and expectant families. Together, they look forward to collaborating in order to grow this business and make Nuvo’s revolutionary care available to all.
About Nuvo
Nuvo is transforming the future of pregnancy care through innovative technology and practices that provide expectant mothers with the support and monitoring they need for a safe and healthy journey.
The INVU by Nuvo™ platform, an FDA-cleared, prescription initiated remote pregnancy monitoring and management system, has won numerous industry recognitions including Fast Company’s Next Big Things in Tech (2021), CB Insights’ Digital Health 150 (2020, 2022), and MedTech Innovator’s Top 50 MedTech Startups (2021).
We are proud to be led by a passionate and diverse team of medical and business professionals, data engineers and software designers who are dedicated to giving every life a better beginning. With the INVU™ sensor band, we are revolutionizing remote non-stress tests and maternal & fetal heart rate monitoring, while pioneering new data-driven pathways that will ultimately improve health outcomes for women everywhere.
About LAMF LLC
Jeffrey Soros and Simon Horsman, the Chairman and CEO of LAMF Global Ventures Corp, have joined forces to found and operate LAMF LLC, an award-winning media and entertainment company based in Los Angeles.
From financing and producing feature films, documentaries, and television shows, to investing in tech companies and running a sports agency that represents over 50 athletes, LAMF has become a leader in the entertainment industry. The company has forged relationships with some of the world’s most famous celebrities and influencers, including actors, directors, writers, musicians and sports stars.
About 10X Capital
10X Capital is the bridge between Wall Street and Silicon Valley, connecting institutional capital with cutting-edge ventures. We specialize in investing across the spectrum, with a particular focus on companies that are shaking up traditional industries like finance, healthcare, natural resources, transportation, infrastructure, agriculture and real estate through innovative technology.