7th May 2015 08:45
LONDON (Alliance News) - NetScientific PLC on Thursday said it has made an investment in digital health company Neumitra, without providing any details on the value of the investment it has made.
The company is developing wearable devices and smart software applications for real-time stress management, NetScientific says. It is a portfolio company of Breakout Labs, the philanthropic fund formed by Peter Thiel, the co-founder of payments company PayPal Inc.
"The wearable device market is seeing rapid growth and has the potential to transform many areas of healthcare by enabling real-time tracking and management of symptoms by providing actionable feedback. Stress is an often-overlooked cause of significant healthcare and productivity costs in society which Neumitra is leading the way to better understand and address," said Michael Boyce-Jacino, NetScientific's US executive director.
"Our investment in Neumitra further broadens our digital health portfolio, a key area of focus for the group," Jacino added.
Shares in NetScientific were up 0.9% to 118.50 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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