SleepTech Medical Device Plus IP

The device was created by a renowned neuroscientist who enlisted a neurologist, MD and tech guru to create the first home solution for chronic insomnia. They have been granted two very broad patents that cover algorithms based on multiple sensor data; an adaptive staging algorithm incorporating machine learning and AI that improves with training; and sleep scoring analysis. They have received multiple grants to fund the development of the prototype device and have an app available that was funded by the US military.

McKinsey estimates that the cost of sleep deprivation is $680B per year and in the U.S. alone, 70M people are plagued with chronic insomnia. McKinsey’s study further states “Technological solutions, such as consumer wearables, have also increasingly addressed the global decline in sleep levels. In the United States, the number of sleep-technology patents has increased by an average of 12 percent a year over the past decade. Market forecasts indicate that the resulting influx of sleep devices could take the global market to some $32 billion by 2026, up from $11 billion in 2019. Many of the new devices focus on monitoring the quality of sleep, motion, and bio-signals and therefore open up the possibility of accurately monitoring sleep at scale for the first time.”

The assets for sale include the two patents, software and device.