SHENZHEN, China, Aug. 19,
2024 /PRNewswire/ -- UTime Limited (NASDAQ: WTO)
("UTime" or the "Company") is pleased to announce a Memorandum of
Understanding ("MOU") with XCardio, a Japanese company owned by Dr.
Ehud Baron, a leader in medical
technology innovation. This partnership focuses on the joint
development of state-of-the-art continuous blood pressure
monitoring devices, BPWatch, aimed at advancing cardiovascular
disease management. This joint project also aims to develop a new
revenue model by transitioning from the low-margin business of
selling BP watches to consumers to a high-margin, recurring revenue
model. This will involve selling high-margin systems using a Per
Patient Per Month (PPPM) payment structure.
Dr. Ehud Baron brings his
expertise in blood pressure, hemodynamics, health mapping, and
AI-driven diagnostics to this strategic collaboration. This
partnership highlights UTime's new commitment to enhancing health
and wellness through cutting-edge medical wearable technology. With
support from strategic collaborations and advanced research, UTime
strives to deliver effective global solutions for disease
prevention and health management.
Dr. Ehud Baron was a former
professor at the Israel Institute of Technology, UC Berkeley, and
Stanford University. He also founded
and led several companies in cardiology, sleep, and AI sectors.
In light of the heightened global emphasis on health and disease
prevention following the 2019 COVID-19 pandemic, UTime has
prioritized the development of advanced medical wearable products.
In 2024, UTime and Dr. Ehud Baron
embarked on a strategic initiative to create a new blood pressure
monitoring watch utilizing Dr. Baron's continuous blood pressure
measurement technology. The collaboration with Dr. Ehud Baron is expected to play a key role in
advancing UTime's efforts in blood pressure monitoring solutions.
Moving forward, UTime is dedicated to expanding its range of
medical wearable products, leveraging Dr. Baron's expertise to meet
the growing demand for advanced health technologies worldwide.
About UTime Limited
UTime Ltd., established in 2008, provides cost-effective mobile
devices to consumers globally and to helping low-income individuals
from established markets, including the
United States and emerging markets such as India and other countries in South Asia and Africa have better access to updated mobile
technology. Since 2024, UTime has been committed to transforming
health and wellness through innovative medical wearable
technologies. By leveraging cutting-edge research and strategic
partnerships, UTime aims to provide effective solutions for disease
prevention and health management on a global scale. For more
information, visit the Company's website at
http://www.utimeworld.com/.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the ability of the
Company to regain compliance with Nasdaq continued listing
requirements. The words "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," "target," "will,"
"would" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors discussed in
the "Risk Factors" section of the Annual Report in Form 20-F filed
with the SEC on July 30, 2024. Any
forward-looking statements contained in this press release speak
only as of the date hereof, and the Company specifically disclaims
any obligation to update any forward-looking statement, whether as
a result of new information, future events or otherwise.
For more information, please
contact:
Eaky Tan
eaky@westock.com
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SOURCE UTime Limited