HeartBeam (Nasdaq:BEAT) announced today that it acquired substantially all assets from Livmor, which develops remote monitoring technology.
Livmor, a digital health solutions company, provides a patient-engaging remote monitoring system for critical physiological biomarkers.
HeartBeam said in a news release that the acquisition extends its reach in remote monitoring and detection. It now has full ownership of Livmor’s Halo AFib detection system. Livmor received FDA 510(k) clearance for the Halo wearable AFib detection system in October 2020.
The Halo system provides continuous monitoring of pulse rhythms to detect AFib on-demand during the day and automatically overnight.
HeartBeam and Livmor partnered last month to build a HeartBeam-branded version of the Halo cloud-based software platform. This collaboration allowed HeartBeam to meet its schedule for FDA submission of its AIMI software. AIMI provides a 3D comparison of baseline and symptomatic 12-lead ECG to more accurately identify a heart attack. The company expects AIMI to receive FDA clearance early this year.
Under the terms of the agreement, HeartBeam acquired Livmor’s IP for an undisclosed amount. This includes three issued U.S. patents and Livmor technology (including Halo). It also includes business contracts and relationships, plus Samsung watch and tablet inventory. HeartBeam also hired Livmor’s key technical employees.
“We’re very pleased to complete this acquisition as it is a natural fit and extension of our successful partnership with Livmor and our complementary goals to dramatically improve patient outcomes and to significantly reduce healthcare system costs,” said Branislav Vajdic, HeartBeam CEO and founder. “The fact that these intellectual property and product assets were developed by the technical team that is now part of HeartBeam means that we will be able to integrate the Halo cloud-based software platform with our AIMGO solution in an efficient and cost-effective manner.”