SOBR Safe, Inc (NASDAQ:SOBR) launches an alcohol monitoring band for alcohol treatment programs, SOBRsure.
What Happened? SOBR Safe, providers of game-changing alcohol monitoring solutions, launched SOBRsure, an alcohol monitoring band for alcohol treatment programs.
SOBRsure will likely help accelerate intervention and improve recovery rates, potentially enhancing patient quality of life and decreasing the financial burden on insurers.
North-Star Care (North-Star), an innovative virtual reality treatment platform, will pioneer the band in a partnership.
The contract sought an initial 1,150 white label bands; North-Star intends to deploy them through the end of the year and anticipates up to 7,500 patients in the program's first year. SOBRsafe's revenue model consists of a one-time unit purchase fee and a per-user monthly subscription fee.
Why Does It Matter? With unique touch-based and virtual reality technologies, SOBRsafe and North-Star will usher in a new era of effective, patient-centered alcohol rehabilitation care.
SOBRsure is a preventative alcohol monitoring system specifically for alcohol rehabilitation.
The fitness-style, privacy-forward wearable alcohol monitoring band provides continuous remote reporting, geolocation, and removal alerts.
For the first time, patients now have a streamlined, modern solution to manage and monitor their progress and goals proactively. In contrast, telehealth professionals have added insight into the optimal treatments needed virtually and in real-time.
SOBRsafe CRO Michael Watson said, "By using SOBRsure to inform patient care, our partnership with North-Star demonstrates that new technologies play a vital role in improving existing rehabilitation models and serves as a replicable blueprint for other rehabilitators to implement technology-based solutions as well."
Approximately 15 million Americans experience Alcohol Use Disorder (AUD), a component of the US $38 billion addiction and substance rehabilitation industry.
Insurance providers were likely to spend $280 billion across all substance abuse and mental health spending in 2020, a $109 billion increase over the past ten years.
Breaking from the traditional rehabilitation model with the country's first entirely virtual AUD rehabilitation program, North-Star Care leverages digital technologies.
It included virtual reality, telehealth, wearable monitoring devices, pharmaco-genomic-based medical treatments, and other evidence-based interventions to improve treatment outcomes dramatically.
SOBRsure will now be added to this toolset, offering North-Star Care a new way to help patients with real-time monitoring, intervention, and better-informed long-term treatment while maintaining the most stringent patient privacy and confidentiality.
Price Action: SOBR shares traded higher by 8.51% at $1.02 in the premarket on the last check Tuesday.
