I'm not defending GMV here, especially given their track record of announcements that have come to nothing, but surely this is positive.
They have brought this "damned if you do, damned if you don't" situation upon themselves, whereby they will be bagged for under or over announcing.
For me, their best chance of regaining credibility is by sticking to factual releases without inference.
We can forget the fluff around this announcement, but the fact remains, they've landed the first multi-site hospital trial for the key product.
Forge the phone case, we simply don't know if there is a market for a DIY device operating at this level. The vast majority of folks would be happy with an apple device or similar, if it's purely to take readings out of curiosity. If on the other hand you have a serious condition, would you want a multi-functional, some say hard to get an accurate reading device, or would you use something simple and accurate?
The patch however, if proven as an accurate, RELIABLE "set and forget" wireless solution, could be a game changer.
All this announcement is telling us is that the product is now in the hands of professionals, in the Hospital environment, that will assess it's practical suitability to do a job.
It's not about achieving FDA or similar, lots of products do that and go no-where because the people that use such things day in, day out, simply don't take to them. The reasons for that can be many, purchase price (unusual), ease of use, reliability, more comprehensive/ richer diagnostics, speed or reduced running costs.
The simple fact that we will soon, for the first time, understand if this product is attractive to its largest potential market, is a positive.
The feedback/ take up might be spectacular, it might be terrible, but at least we'll know.
If the patch proves itself in this environment, a good company should be able to attain and leverage strong testimonials and have this group of hospitals sell the product to others.
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