UTime Limited Partners with Dr. Ehud Baron to Pioneer AI-Driven Health Solutions

Rhea-AI Summary

UTime (NASDAQ: WTO) has announced a strategic partnership with XCardio, owned by Dr. Ehud Baron, to develop advanced continuous blood pressure monitoring devices called BPWatch. This collaboration aims to transition UTime from a low-margin consumer product business to a high-margin, recurring revenue model using a Per Patient Per Month (PPPM) payment structure.

Dr. Baron, a former professor at prestigious institutions and a leader in medical technology innovation, brings expertise in blood pressure, hemodynamics, health mapping, and AI-driven diagnostics to the project. This partnership aligns with UTime's new focus on enhancing health and wellness through cutting-edge medical wearable technology, particularly in response to the increased global emphasis on health and disease prevention following the COVID-19 pandemic.

Positive

• Partnership with Dr. Ehud Baron, a leader in medical technology innovation
• Development of advanced continuous blood pressure monitoring devices
• Transition to a high-margin, recurring revenue model using PPPM payment structure
• Expansion into the growing medical wearable technology market

Negative

• Shift away from current low-margin consumer product business model

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

FAQ

What is UTime 's new partnership for developing medical wearables?

UTime (NASDAQ: WTO) has partnered with XCardio, owned by Dr. Ehud Baron, to develop advanced continuous blood pressure monitoring devices called BPWatch.

How will UTime's partnership with Dr. Ehud Baron change its revenue model?

The partnership aims to transition UTime from a low-margin consumer product business to a high-margin, recurring revenue model using a Per Patient Per Month (PPPM) payment structure.

What expertise does Dr. Ehud Baron bring to UTime's medical wearable project?

Dr. Baron brings expertise in blood pressure, hemodynamics, health mapping, and AI-driven diagnostics to the collaboration with UTime

Why is UTime focusing on medical wearable technology in 2024?

UTime is focusing on medical wearable technology in response to the increased global emphasis on health and disease prevention following the COVID-19 pandemic.