FinancialBuzz.com News Commentary
NEW YORK, Sept. 13, 2023 /PRNewswire/ -- Obesity is a major medical issue that increases the risk of many other diseases and health complications including heart disease, diabetes, high blood pressure, high cholesterol, liver disease, sleep apnea and certain cancers. There are many reasons why some people have trouble losing weight. Obesity often results from inherited, physiological and environmental factors, exacerbated by poor diet, lack of physical activity and exercise choices. To help diagnose obesity, the medical community uses the Body Mass Index (BMI). If the BMI is over 25, the person is considered overweight, and if the value above 30, the person is suffering from obesity. According to data from the World Health Organization, obesity or overweight is currently growing at epidemic proportions with over 4 million deaths annually due to complications caused by excessive weight. As a result, weight management programs are rising in popularity. Medical professionals recommend creating a strict schedule of meals or diet programs that provide a sufficient quantity of good fats, carbohydrates, fiber, and proteins since all are critical for physical well-being. North America is anticipated to lead the global weight loss and weight management market due to the higher accessibility of weight loss programs in terms of standalone physical centers or online programs. Overall, the weight loss and weight management market was worth around USD 224.27 Billion in 2021 and is estimated to hit approximately USD 405.4 Billion by 2030. Nemaura Medical Inc. (NASDAQ: NMRD), WW International, Inc. (NASDAQ: WW), AdaptHealth Corp. (NASDAQ: AHCO), Tandem Diabetes Care, Inc. (NASDAQ: TNDM), iRhythm Technologies, Inc. (NASDAQ: IRTC)
Using a remote patient monitoring program to continuously track a patient's well-being can go a long way in helping to prevent weight gain progression and life-threatening medical complications, in addition to helping the patient lose weight. Traditionally, patient monitoring devices are used in hospitals to monitor a patient's vital signs. Nowadays, with the advancements in wireless technology, these devices can be used to monitor a patient's various physiological parameters remotely. In addition, new wearable monitoring devices, equipped with the IoT technology, can communicate with smartphones, transferring crucial data right to user friendly applications. Moreover, there has been an increasing focus on the development of smaller, more reliable, and more energy-efficient devices in recent years, compared to the previous generations of medical wearables. And, according to data published by Grand View Research, Inc., the global wearable medical devices market size was valued at USD 16.6 Billion in 2020. Furthermore, it is expected to expand at a compound annual growth rate (CAGR) of 26.8% from 2021 to 2028.
Nemaura Medical Inc. (NASDAQ: NMRD) just announced breaking news regarding, "interim results from its metabolic health program.
The primary objective of the study was to establish whether a metabolic program with a daily wear CGM worn twice a month resulted in greater engagement levels and sustainable weight reduction, and how this compared to other programs. The multi-centered study was run in collaboration with the UK's National Health Service.
Known as Miboko (Mind, Body, Konnect), the program is the first to integrate a daily-wear and non-invasive glucose sensor with the Company's bespoke app, educational content and AI driven analytics platform.
Users were invited to participate by their primary care practice, based on a BMI over 25. None of those invited to participate had expressed a willingness to join a metabolic weight loss program or had previously heard of the Miboko program. Participants used the Miboko app, and were given access to relevant education modules relating to aspects of metabolic health and weight loss. Diet and lifestyle were entered daily into the app, and weight was recorded weekly. Every two weeks, users wore the daily wear continuous glucose sensor, which tracked and displayed real-time glucose. At the end of the day, participants were provided with a Metascore® and measure of glucose variability.
In addition, users were presented with a video report which analysed their glucose trends and made diet and lifestyle recommendations. The Metascore® is derived from a number of factors including BMI, insulin sensitivity and lifestyle.
The study tracked 83 participants, with a mean age of 54 years old. The cohort was made up of 67% female (F), and 33% male (M), and 88% of participants recorded their ethnicity as 'White'. After 20 weeks of enrolment, 59 people (16M/43F) had recorded weight loss, with 21 participants losing over 5KG (11 pounds). On an average basis, weight loss was 2.9KG (6.3 pounds) (1.9M/3.2F), with the rate of change increasing after week 8.
Qualitative feedback from users demonstrated substantially increased levels of understanding and empowerment on their weight loss goals, correlating to long-term behavioural changes that are pivotal to sustained weight loss. Of particular note is that users derived considerable benefit from their personalised insights, based on their Metascore® and response to diet and exercise. Verbatims from users confirmed that CGM sensor use increased user participation, better understanding of food choices and portion size.
After 20 weeks of use, the program had a retention rate of 32.5%. When active participants were asked whether they would continue with the program, 64% of respondents stated they were likely or very likely to continue to use the program. This far exceeds retention rates for health and wellbeing apps of 16.7% at 13 weeks and 6.9% at 26 weeks.
Published studies report that affordability is a key barrier to CGM adoption, and the Company aims to price its CGM-embedded program significantly lower than any presently available comparable program.
The integration of Nemaura's CGM sensor means that for the first time, a low-cost metabolic health improvement prevention program will soon be commercially available. The Company has the advantage of its own proprietary non-invasive sensor technology, which significantly reduces sensor costs, as the sensors are only worn a few days each month.
The Company plan to publish more detailed results in due course. A link to the Miboko website can be found here: https://miboko.com
WW International, Inc. (NASDAQ: WW) reported back in April that it has completed its acquisition of Weekend Health, Inc., d/b/a Sequence, a subscription telehealth platform offering access to healthcare providers specializing in chronic weight management. Sequence seamlessly integrates the patient and clinician experience for medication management and related clinical care while providing high-touch support in navigating the insurance approval process. "WeightWatchers is at a pivotal point where we can build new capabilities that expand our market, reinforced by our foundational strengths," said Sima Sistani, CEO of WeightWatchers. "Given the advancements in chronic weight management medications, entering into clinical interventions, for those who medically-qualify, is a natural next step for WeightWatchers. Our goal is to provide sustainable, science-backed solutions to all weight health pathways, whether medications are part of an individual's journey or not."
AdaptHealth Corp. (NASDAQ: AHCO) reported back in May that has entered into an agreement to become the capitated provider of durable home medical equipment and supplies to Humana Medicare Advantage HMO members in 33 states, plus the District of Columbia. AdaptHealth's agreement with Humana, which features a value-based pricing model replacing traditional fee-for-service, is expected to cover at least 1.0 million members. "We are delighted that Humana has partnered with AdaptHealth to help its members achieve their best health at home," said AdaptHealth CEO Steve Griggs. "Our unmatched nationwide network of more than 700 locations, a resilient supply chain, and a focus on technology and in-home service to improve patient care will deliver excellent value to Humana Medicare Advantage members."
Tandem Diabetes Care, Inc. (NASDAQ: TNDM) reported in July that the U.S. Food and Drug Administration (FDA) clearance for the Tandem Mobi insulin pump for people with diabetes age 6 and up, expanding the company's portfolio of products. The Tandem Mobi is fully controllable from a mobile app and is the world's smallest durable automated insulin delivery system. Testing the limits of pump miniaturization, Tandem Mobi joins the t:slim X2 pump in our family of insulin delivery solutions bringing new options in wearability, the flexibility to disconnect, and full phone control," said John Sheridan, president and chief executive officer. "Through this expansion, we are delivering on our commitment to bring greater choice, along with the proven benefits of Tandem's technology, to more people living with diabetes."
iRhythm Technologies, Inc. (NASDAQ: IRTC) announced earlier in July that an independent third-party review, conducted by the National Association of Managed Care Physicians (NAMCP), validated evidence that shows the Zio XT long-term cardiac monitoring service contributes value to health systems and payers. Relative to efficacy and clinical utility, the assessment validated evidence on Zio XT's diagnostic yield, analyzable wear time, detection of many types of arrhythmias, lower likelihood of retesting compared with other monitor types, improved clinical outcomes, and decreased time to diagnosis. Relative to patient compliance, the assessment validated that multiple studies show high patient compliance as demonstrated by long median and mean wear time, and further noted that published studies have reported patients preferred the Zio XT over the conventional Holter monitor and found the device comfortable to wear. "As a clinician-led organization committed to delivering evidence-based solutions for payers and providers, this independent assessment reinforces our belief in the value proposition of our Zio XT service," said Quentin Blackford, iRhythm President and Chief Executive Officer. "As iRhythm works to advance the standards of cardiac care, we are proud to be selected by the NAMCP as the first healthcare solution to go through this evaluation."
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