- CardieX (CDX) has signed a commercial partnership with Google-backed Mobvoi to launch a new line of health-focused smartwatches
- Under the agreement, Mobvoi will oversee hardware and firmware requirements, while CardieX will integrate a proprietary algorithm feature set
- An initial phase includes a six-month market release, in which Mobvoi will drive commercialisation in North America while CardieX will hold distribution rights in Australia and New Zealand
- Once subscription-based revenue occurs, the proceeds will be split with 60 per cent going to CardieX and the remaining 40 per cent going to Mobvoi
- Share in CardieX closed 2.04 per cent in the green for five cents per share
CardieX (CDX) has signed a commercial partnership with Google-backed Mobvoi to launch a new line of health-focused smartwatches.
The deal follows the success of an earlier agreement with the Beijing-based consumer technology company, which evaluated the feasibility of launching a wearable device fitted with cardiovascular and consumer health features developed by ATCOR, a subsidiary of CardieX.
Under the terms of the new partnership, Mobvoi will be responsible for developing the hardware and firmware requirements for the new line of smartwatches, while CardieX will integrate a proprietary algorithm feature set based on its Arty health analytics platform.
This line of watches will be the first to feature CardieX’s Heart Stress, Arterial Age, Exercise Capacity and Arty score with active community and AI-powered health coaching services. These features are based on ATCOR’s photoplethysmogram-based (PPG) sensor technology.
The partnership outlines an initial six-month market release, targeted for the first quarter of 2021, in which Mobvoi will drive commercialisation in North America, while CardieX will hold distribution rights in Australia and New Zealand, as well as non-competitive channels in North America.
The smartwatches will be marketed using a premium subscription service, which includes a three-month free trial. Following the trial, consumers will be required to pay a per-month subscription fee, which will be split between CardieX and Mobvoi 60 per cent and 40 per cent, respectively.
A second phase of the partnership will then be launched, subject to a review by both companies, which pertains to a full market release worldwide.
During this phase, Mobvoi will again be responsible for driving commercialisation, while CardieX will hold distribution rights for any geographical market via non-competitive channels.
The marketing of the smartwatches will be managed by a joint committee of representatives from both Mobvoi and CardieX.
Craig Cooper, CEO & Managing Director of CardieX, said the deal with Mobvoi is the first of many wearable integrations planned for the company’s Arty health analytics platform.
“And importantly, the partnership with Mobvoi also exposes us to a whole new ecosystem of potential partnerships given the strategic shareholdings in Mobvoi by some of the world’s leading investment, technology, health, and industrial corporations,” he added.
CardieX closed 2.04 per cent in the green for five cents per share.