Owlet unveils its new product, the Dream Sock, at Kind + Jugend 2024 and announces that the device will soon be available to more parents around the world.
LEHI, Utah, September 03, 2024–(BUSINESS WIRE)–Owlet, Inc. (hereinafter “Owlet” or the “Company”) (NYSE: OWLT), the newborn monitoring specialist, today announced at Kind + Jugend in Cologne, Germany that its medical device, the Dream Sock, will soon be available in more European countries, including Poland, Greece and the Czech Republic. The Dream Sock is a medically certified smart baby monitor that provides parents with detailed information about their baby’s health and triggers alerts while they sleep. This expansion will allow more European families to benefit from this essential tool for their baby’s safety.
“Dream Sock has already transformed the lives of thousands of families since its global launch just a few months ago, and we’re excited to expand our reach even further,” said Kurt Workman, CEO and co-founder of Owlet. “We’re at Kind + Jugend this week to meet with our current and potential distributors, showcase our latest technology, and demonstrate Owlet’s global impact,” he added.
The Dream Sock, CE and UKCA certified in accordance with EU and UK medical device regulations, meets rigorous standards for safety and effectiveness. This smart baby health monitor wraps comfortably around your baby’s foot and tracks real-time heart rate, oxygen saturation, sleep patterns, and more. The Owlet Dream app (available on iOS and Android) provides live health data to mobile devices and the included base station, immediately alerting users if your baby’s heart rate is too low or too high, or if oxygen levels are too low. Clinically proven to accurately track and display baby’s vital signs, the Dream Sock is designed for healthy babies aged 0-18 months and weighing 2.5-13.6 kg. It can also be paired with the Owlet Camera® 2, allowing caregivers to see and hear baby from anywhere, receive movement notifications, and more.
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The Dream Sock is available now in the UK and select European markets, and will also be available in Poland, Czech Republic, Slovakia, Hungary, Romania, Bulgaria and Greece via Owlet’s localised websites and major retailers in the coming weeks.
About Owlet, Inc.
Owlet’s digital baby health monitoring platform is transforming parents’ lives. The company (NYSE: OWLT), a growing healthcare company, offers FDA-cleared pediatric products, including medical and consumer devices, as well as a built-in HD camera. These tools provide parents with real-time data to monitor their children’s health, optimize their well-being and ensure peaceful sleep.
Since 2012, more than two million parents worldwide have adopted Owlet’s platform, contributing to one of the largest databases on sleep and child health. The company is committed to continually developing software and digital solutions that improve the transition of care from hospital to home. Owlet provides essential information to parents and caregivers to promote the health and well-being of children, and ensure a full, happy and healthy life for each child. For more information, visit www.owletcare.com.
Forward-Looking Statements
This press release includes forward-looking statements, pursuant to the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Statements that are not historical facts, including statements about the certification and launch of the Dream Sock in the European market, impacts, growth prospects, expanded product offerings, and product availability in international markets, are considered forward-looking. These statements often use words such as “believes,” “may,” “believes,” “plans,” “expects,” “anticipates,” “intends,” “goal,” “potential,” “future,” “outlook,” “guidance,” or the negative thereof, although not all forward-looking statements necessarily contain these words. These forward-looking statements are based on the company’s current expectations and speak only as of the date they are made. They are subject to various risks, uncertainties and other influencing factors. For all such statements, the Company relies on the safe harbor protection for forward-looking statements as defined in the Reform Act. The Company’s actual results, performance or achievements could differ materially from those expressed or implied in the forward-looking statements. Several important factors could cause the Company’s future results to differ materially from those anticipated or contemplated in such forward-looking statements. These factors include, but are not limited to: (i) the availability, acceptance and commercial success of the Dream Sock and its novel medical technology in international markets; (ii) the regulatory trajectory of the Company’s products, including applications submitted to, actions and decisions of regulatory agencies such as the FDA and their counterparts outside the United States, and the Company’s ability to obtain and maintain necessary regulatory approvals or certifications for its products and to satisfy other regulatory requirements and legal obligations; and (iii) any developments in litigation in which the Company is involved, including cases involvingPistons et Cherian referred to in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”); (iv) the Company’s ability to maintain the listing of its Class A common stock on a national securities exchange, including by complying with the requirements of Section 802.01B of the NYSE Listed Company Manual in a timely manner, as reported in the Company’s filings with the SEC; (v) the Company’s ability to compete and grow profitably while managing such growth; (vi) the Company’s ability to improve its operating and financial results or obtain additional financing for its operations; (vii) risks related to current loan and credit agreements, including compliance with restrictive covenants, limitations on access to capital, the impact of its overall debt level and its ability to generate sufficient cash flows to service its debt and operate its business; (viii) the Company’s ability to implement strategic initiatives, reduce costs, increase revenues, develop and launch new products, innovate and improve existing products, meet customer expectations and adapt to changing consumer preferences and market trends; (ix) the Company’s ability to protect and defend its intellectual property and comply with regulatory requirements, including those relating to data protection and privacy, and the risks associated with its digital technologies and platforms; (x) the Company’s ability to maintain good relationships with customers, manufacturers and suppliers, and to retain its management and key employees; (xi) the Company’s ability to update and maintain its information technology systems; (xii) changes in applicable laws or regulations; (xiii) impacts and disruptions to the Company’s business, financial condition, operations, supply chain and logistics due to conditions beyond its control, such as epidemics, economic uncertainties, civil unrest, conflicts, natural disasters or other major events; (xiv) the potential impact of economic, business, regulatory, competitive or other factors, including changes in consumers’ discretionary spending habits; and (xv) other risks and uncertainties discussed in other press releases, public statements and filings with the SEC by the Company, including those listed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, in subsequent Quarterly Reports on Form 10-Q, and in any current or periodic reports filed with the SEC. All forward-looking statements attributed to the Company or any person acting on its behalf are qualified in their entirety by the cautionary statements set forth above. The Company operates in a constantly changing environment. New risk and uncertainty factors may arise, and factors currently deemed immaterial by the Company may prove to be material. Nor can it predict the potential impact of such events. Except as required by law, the Company undertakes no obligation to update any forward-looking statements after the date of this release, whether as a result of new information, future events or otherwise, although it may elect to do so from time to time. In addition, the Company does not endorse any forecasts of future performance that may be made by third parties.
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