mic AG: Wearable Technologies AG Establishes US Subsidiary and Invests in Thimble Bioelectronics

(PresseBox) ( Munich, )
  • Increased presence in strategically important American market
  • Thimble Bioelectronics is first investment of US subsidiary Wearable Technologies Inc.
  • Innovative and awarded pain relief method
  • Further strategic early-stage investments planned

Wearable Technologies (WT) AG, a majority stake of Munich based mic AG (ISIN DE000A0KF6S5), establishes its international footprint by incorporating a US subsidiary, the Wearable Technologies Inc., in San Francisco (CA). With it the WT Group, investor, pioneer and founder of the leading B2B-platform for wearables, strengthens its presence in the important American market. Thimble Bioelectronics is Wearable Technologies Inc.'s first involvement, together with some of Silicon Valley's top players.

Thimble Bioelectronics first attracted attention at the Wearable Technologies Innovation World Cup 2012, organized by Wearable Technologies AG, a highly regarded competition in this industry, sponsored inter alia by Texas Instruments, STMicroelectronics, VARTA Microbattery, and Samsung. With their simple, safe, and effective pain treatment technology based on Transcutaneous Electrical Nerve Stimulation (TENS), the California based company made it to the finals of the competition. In addition to this groundbreaking approach, the pain relief patch will include wireless technology, enabling doctors and patients to better understand how to deal with the pain management process. Expert estimates indicate that more than 1.5 billion people worldwide suffer from chronic pain.

"It is because of our pioneer-work and development of the world's leading platform for wearable technologies as well as our unique insight that we were able to implement such a promising investment as Thimble Bioelectronics certainly represents", said Christian Stammel, CEO and Founder of Wearable Technologies AG. "With our own subsidiary in Silicon Valley investing in innovative start-ups will be a lot quicker and more effective, which will further expand our market leadership. Given the enormous potential for wearable technologies, we are already reviewing further early-stage investments. Predictions by industry experts put this potential at an annual growth of 40%", Christian stated further. Shaun Rahimi, CEO Thimble Bioelectronics, too has high expectations of collaborating with the WT Group. Shaun stated, "We are excited to have such a well-positioned strategic investor like WT on board. In addition to their financial commitment, WT is sure to have valuable contributions for the development of our company".

About Wearable Technologies AG:

Wearable Technologies AG is a subsidiary of mic AG since 2011, and an active strategic investor in the growing market of wearable technologies ever since. The WT AG is pioneer and leading innovation and market development platform for technologies worn close to, on, and even in the body. Since 2006 the WT Group has been successfully supporting companies of all sizes with business development, technology marketing, and sales performance, focusing on health, sports & fitness, lifestyle & gaming, and safety & security. Partnering with relevant international trade shows, organizing the worldwide unique WTconferences, and editing numerous publications like the WTnews, the Wearable Technologies Group has been a business accelerator for over 3,000 companies from around the world. Get more information on Wearable Technologies AG at www.wearable-technologies.com.
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