CardieX launches CONNEQT to compete with consumer tech giants Apple and Fitbit
Health & Biotech
Health & Biotech
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Australian medtech CardieX has announced the launch of CONNEQT; a new consumer health division to focus on wearables and home health devices.
CardieX (ASX: CDX), the Australian medical technology company, has announced that its subsidiary ATCOR Medical will, going forward, separate into two companies – ATCOR and CONNEQT.
ATCOR will continue to focus on vital signs monitors and SaaS solutions for hospital, research and pharma and specialised clinical markets, while the new CONNEQT brand will focus on home health, wearables and consumer health apps.
Speaking with Stockhead, CardieX chief executive Craig Cooper said the company’s upcoming home health monitor, Pulse, and additional wearable devices, will be launched under the CONNEQT brand with a specific go-to-market, sales and marketing strategy.
“I am delighted to be announcing that a significant corporate restructuring of ATCOR Medical is taking place, making way for our new consumer health brand CONNEQT,” said Cooper.
“Since inception our ATCOR subsidiary’s business focus has been on specialist medical devices and solutions focused on arterial and vascular health, which we’ve seen continuous strong growth per our recent quarterly update.
“However, for our consumer commercialisation strategy, we wanted a new brand that could emotionally resonate with consumers and also had the same brand recognition as other market leaders in the consumer health products sector.
“Importantly, we wanted a brand that could be a disruptive entrant to the market in the same way Beats disrupted Bose, Warby Parker disrupted the eyeglass industry, Instagram disrupted photo sharing, and Dollar Shave disrupted Gillette, to name a few. That was our brief to our brand agency Shanty, who had worked with the likes of Nike, Oakley, Adidas, Emirates, and Twitter in the past.”
CardieX has been in deep development on multiple new devices and digital products coming to market over the next 12 months, including “Pulse” (dual blood pressure monitor – anticipated to be the first consumer vital signs monitor to include central blood pressure and the company’s patented SphygmoCor® technology), and an upcoming new health wearable featuring the full suite of their patented health parameters, as well as a complete ecosystem of unique health and wellness features.
“We believe CONNEQT will be a brand that will be a leader in the consumer health sector in years to come. We are uniquely positioned to be a strong market entrant into the US$100 billion health wearables market given our focus on vascular and heart health – the world’s No 1 killer,” said Cooper.
“CONNEQT will have the same brand recognition alongside household consumer companies and the brand can be extended into multiple different product sectors in health and wellness. That’s our vision and mission.”
CardieX last week was granted another US patent for blood pressure measurement technology for “Non-Invasive Brachial Blood Pressure Measurement” which will remain in force until 2038. The company also holds over 14 patents in blood pressure and wearable sensor technology which are being incorporated into their new CONNEQT devices.
This article was developed in collaboration with CardieX, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.