Shares of cardiac technology provider HeartBeam (NASDAQ:BEAT) are soaring higher today after it announced a strategic alliance agreement (SAA) with Samsung.
The agreement extends an earlier SAA between Samsung and LIVMOR (acquired by HeartBeam). Now, the two companies will work to spot avenues for collaboration and utilize HeartBeam’s expertise and technology.
HeartBeam’s Founder and CEO, Branislav Vajdic, Ph.D., commented, “Our newly acquired state-of-the-art, FDA-cleared, Samsung watch-based arrhythmia detection tool, once integrated with the HeartBeam AIMIGo telehealth platform, presents a unique opportunity to extend our product capabilities well beyond what is currently available for cardiac patients outside of a medical setting.”
Further, the two companies are also looking at a potential collaboration with the Department of Veterans Affairs via its Accelerating VA Innovation and Learning (AVAIL) program as well.
Despite today’s price gains, HeartBeam shares still remain nearly 45.2% lower so far this year.
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