Nemaura Medical, a medical technology company focused on the development of SugarBEAT as a non-invasive, affordable and flexible Continuous Glucose Monitor (CGM) for use by diabetics and pre-diabetics, has signed an exclusive license and supply agreement for SugarBEAT with TPMENA in the Gulf Cooperation Council (GCC) Region, which includes Bahrain, Kuwait, Saudi Arabia, Oman and United Arab Emirates.
TPMENA is a distributor of medical devices in the GCC Region, backed by Cigalah group. TPMENA is headquartered in Saudi Arabia, which markets and sells many of the leading brands of medicines and medical devices. The GCC Region has more than 35 million diabetics, with data from the International Diabetes Federation showing prevalence of the disease has reached 23.9% of the adult population in Saudi Arabia and 23.1% in Kuwait, which is more than twice the global average of 8.3%.
Dr. Faz Chowdhury, CEO of Nemaura Medical, commented, “The GCC Region is a key market for SugarBEAT because the prevalence of diabetes is one of the highest in the world. We are delighted to be involved with TPMENA, which brings an extensive network and proven track record. Over the past year, we have established a strong relationship with senior management of TPMENA and have full confidence that TPMENA is an exceptional partner for SugarBEAT. Prior to entering into the agreement, TPMENA conducted extensive market research, with very positive feedback from both consumers and key opinion leaders. We look forward to accelerating the registration processes required for an aggressive GCC commercial launch of SugarBEAT upon receipt of CE Mark approval.”
Source: Company Press Release