Nuvo Group announced completion of its business combination with LAMF Global Ventures I. Nuvo shares begin listing today on the Nasdaq under new ticker symbol NUVO.
Israel-based Nuvo is addressing health disparities and breaking down barriers to accessing quality pregnancy care with INVU, a pregnancy monitoring and management platform. INVU harnesses wearable technology, AI and machine learning to empower patients and healthcare providers with real-time, actionable insights into maternal-fetal health.
The business combination was approved April 1 by LAMF’s shareholders. Redemptions left $434,982 in cash in the trust account.
The transaction at deal announcement last August valued Nuvo at a pre-money equity valuation of $269 million and up to approximately $300 million in earnouts upon Nuvo achieving certain commercial milestones.
Nuvo’s physician-prescribed, FDA-cleared platform enables clinicians to conduct fetal non-stress tests (NSTs) with patients anywhere, improving accessibility to care, reducing staffing burdens and enhancing the quality and depth of information available for decision-making. The wearable band and mobile app capture maternal and fetal heart rates and uterine activity signals, which are processed in the cloud and transmitted in real-time for clinician interpretation. Read more.
