Nemaura Medical, Inc. (NASDAQ: NMRD), a medical technology company focused on developing micro-systems-based wearable diagnostic devices and currently commercializing sugarBEAT®, its non-invasive and flexible continuous glucose monitor (“CGM”), together with BEAT®diabetes, a planned health subscription service designed to help people with Type 2 diabetes and prediabetes through personalized lifestyle coaching, today announced the Company is set to join the small cap Russell 2000® Index and the broad-market Russell 3000® Index at the conclusion of this year’s reconstitution of the Russell stock indexes, effective after the U.S. stock market opens on Monday, June 29, 2020, according to a preliminary list of additions posted June 5, 2020.
“Inclusion in the Russell Indexes is an important milestone and will increase the overall awareness and exposure of our stock within the investment community,” stated Dr. Faz Chowdhury, CEO of Nemaura. “Broader exposure to the investment community comes at an ideal time for Nemaura as we move forward with product sales in the coming months and quarters.”
The annual reconstitution of the broad-market Russell 3000® Index captures 3,000 of the largest U.S. stocks, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000® Index and the next 2,000 companies constitute the Russell 2000® Index, which together comprise the Russell 3000® Index. FTSE Russell determines membership for its Russell US Indexes primarily by objective, market-capitalization rankings and style attributes. Based on its market capitalization, the Company qualified for membership in the Russell 2000® index, which means automatic inclusion in the Russell 3000® Index as well as the appropriate growth and value style indexes. Membership remains in effect for one year until the next annual reconstitution.
Russell US Indexes are part of FTSE Russell, a leading global index provider, and are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. FTSE Russell reports that approximately $9 trillion in assets are benchmarked against Russell US Indexes. For more information on the Russell 3000® Index and Russell 2000® Index and the Russell US Indexes reconstitution, visit the “Russell Reconstitution” section at FTSE Russell website.
About FTSE Russell
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FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
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About Nemaura Medical, Inc.:
Nemaura Medical, Inc. (NMRD), is a medical technology company commercializing BEAT®diabetes, a health subscription service designed to help people with diabetes and prediabetes better manage diabetes and reverse Type 2 diabetes or prevent diabetes through 1-on-1 lifestyle coaching and behavior driven by real time continuous glucose monitoring (CGM) and daily glucose trend data provided by sugarBEAT®, a non-invasive and flexible CGM.