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PLEASANTON, Calif. - Movano Health (NASDAQ:MOVE), a health technology company, today announced that its Board of Directors has begun exploring strategic alternatives to increase shareholder value. Options may include a sale, merger, or other transaction. Aquilo Partners has been appointed as the financial advisor and K&L Gates LLP as legal counsel to assist in this process.
The company has made clear that there is no certainty this exploration will lead to any specific transaction or strategic change, nor is there a defined timeline for a potential agreement. Movano Health has stated it will not provide updates until the Board of Directors approves a specific action or deems further disclosure necessary or mandatory. InvestingPro analysis reveals the company holds more cash than debt on its balance sheet, though it’s currently experiencing rapid cash burn - just two of the 16+ ProTips available for this stock.
In conjunction with this announcement, Movano Health has disclosed that it will not file its quarterly report on Form 10-Q for the quarter ending March 31, 2025, within the prescribed time frame, citing resource constraints.
Founded in 2018, Movano Health is known for developing health-focused solutions that aim to bring medical-grade data into consumer wearables. The company’s proprietary technology and wearable medical device solutions are designed to enable proactive health monitoring and management across various patient populations. With a market capitalization of just $7.4 million and analysts projecting 14% revenue growth this year, detailed financial analysis is available in the comprehensive Pro Research Report, one of 1,400+ reports available on InvestingPro.
It is important to note that this press release contains forward-looking statements based on current assumptions and subject to risks and uncertainties that could cause actual results to differ significantly. Movano Health cautions against placing undue reliance on these forward-looking statements, which are valid only as of the date issued.
The exploration of strategic alternatives is based on a press release statement from Movano Health, and further information will be provided in accordance with the decisions of the company’s Board of Directors.
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