SPO Medical Teams with SporTracker to Launch Technology in Sports Market
February 10, 2010
SPO Medical Inc., a developer of biosensor and microprocessor technologies for portable monitoring devices, has reportedly signed a Memorandum of Understanding with a private Israeli company SporTracker Ltd, which specializes in the integration of heart-rate monitoring with consumer audio and leisure devices.
Michael Braunold, president and CEO of SPO Medical said, "The commercial arrangement with SporTracker demonstrates the portability of our proven technology into markets and applications which can benefit from our experience to date. The sports and wellness sector is a mass-market opportunity for our technology enabling monitoring of certain vital sign information in conjunction with leisure related configurations."
Reportedly, the MOU contemplates bundling SPO Medical monitoring technology in new SporTracker recreational products. The terms include advance payments for development work to be performed by SPO on behalf of SporTracker and subsequent royalty payments once the developed products are commercially available.
SPO Medical Inc. recently underwent a major restructuring process which has enabled the company to focus on various new commercial opportunities relating to the implementation of reflectance pulse oximetry for non-medical market applications.
"We selected SPO as our technology provider due to their commercial track-record and proven experience in low-power measurements of heart rate and the ease to integrate this technology in to popular consumer audio and leisure devices. We envisage initial commercial sales of our products incorporating the SPO technology to commence during 2011 followed by a wider worldwide product launch via our strategic marketing partners,” said Dani Ne'eman, president of SporTracker Ltd.
“The SPO technology enables us to deliver a potentially superior product offering which could have a major impact on the general sports market that incorporates audio and leisure related devices," Ne’eman said.
Jai C.S. is a contributing editor for TMCnet. To read more of Jai's articles, please visit his columnist page.
Edited by Stefania Viscusi