Nuvo Group Merging with LAMF Global Ventures I in $269M Deal

Nuvo Group Ltd. and LAMF Global Ventures I announced a definitive business combination agreement.

The has developed an FDA-cleared remote pregnancy monitoring platform. The parties signed an LOI in April for a potential deal.

The transaction values Nuvo at a pre-money equity valuation of $269 million and up to approximately $300 million upon Nuvo achieving certain commercial milestones.

If approved, upon the closing of the transaction, which is expected in the first quarter of 2024, the combined company is expected to list on the .

Nuvo's pregnancy monitoring platform enables the delivery of remote non-stress tests and maternal and fetal heart rate monitoring, helping expectant people adhere to their prescribed care plan.

Nuvo has signed U.S.-based relationship agreements with Penn Medicine, Axia Women's Health, Banner Health, Ouma, and others, positioning the company to address market opportunities in the U.S. with a multi-channel commercial strategy. Additionally, Nuvo is expanding its network of university hospital partners that are gateways to international commercialization, including signed agreements with Charite University Hospital and Sheba Medical Center in Israel with a specialty in maternity care.

LAMF raised $220 million in a November 2021 with a stated goal at that time to target media, entertainment and companies, as well as opportunities within e-commerce and technology. Read more.

Source: Nuvo Group Merging with LAMF Global Ventures I in 9M Deal