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Executive Summary:
SPO (SPOM) is a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices to capture life-saving and life-enhancing information within four key markets: medical care; sports and wellness; homecare monitoring and security. Its patented technology uses information gathered from the reflectance of light on the human body, in a noninvasive manner, to monitor key vital signs. SPO’ patented technology uses information gathered from the reflectance of light from human blood (Reflectance Pulse Oximetry) to monitor oxygen saturation and heart rate, non-invasively. The Company operates through several divisions: SPO Wellness, SPO Medical, SPO Baby and SPO Security. To date, the company has obtained 12 issued patents in this technology and has several additional patent applications pending.
SPO introduced its first medically prescribed product, the PulseOx 5500™, a spot-check finger pulse oximeter which received approval from the FDA, CE and other countries’ regulatory authorities in early 2005. Since this date, SPO introduced five additional products based on its proprietary oximetry technology to the medical market. Commercially the Company has generated revenues close to US$15M. It has built a distribution network and OEM arrangements with strategic partners in over 50 countries. These achievements have been made in a relatively short period and have resulted in more than 250,000 SPO oximetry units being sold with end-user market value in the region of US$35-40 Million.
Previously the primary revenue resource to the Company had been sales in the medical market segment. Nevertheless, these revenues were adversely affected by the entry of lower-cost medical devices which caused a material disruption to the market and lowered product margins previously earned in the pulse oximeter market. As of January 2010, the Company redirected all development resources to consumer market applications to take benefit from the real added-value of the technology offer. The Company believes that the market appreciation of the technology in the wellness and consumer markets will be far greater than that of the medical market. As a result, SPO licensed all its medical product offering (the PulseOx range) so it can focus solely on non-medical consumer market applications going forward.
The uniqueness of the proprietary SPO technology has enabled the Company to apply its commercial efforts to non-medical applications for large consumer markets. Via the SPO Wellness™ line, the Company has already identified, invested and almost completed two applications: one for the high-end sports watch market and the second is a wellness wristband for the 100 Million US obesity market. Additional details of the Company’ activities can be found on our web sites at: www.spoglobal.com.
Management:
MICHAEL BRAUNOLD has been Chief Executive Officer of SPO since March 1998 and the President and Chief Executive Officer of SPO Medical Inc. since 2005. Mr. Braunold is also a Director. Prior to March 1998, Mr. Braunold was Senior Director of Business Development at Scitex Corporation Ltd., a multinational corporation specializing in visual information communication. In such capacity, Mr. Braunold played a strategic role in managing a team of professionals assigned to M&A activities. During his 12-year tenure at Scitex, he held various positions within the worldwide organization, including a period in the United States as Vice President of an American subsidiary of Scitex specializing in medical imaging. Mr. Braunold obtained a Bachelor of Science degree with honors in Engineering and Management Sciences from Imperial College Business School, London, UK.
12/20/16 1:26 PM
