The Simvita Ltd [ASX:SVA] share price rocketed up today, with a gain of 120% and is currently trading at 6.4 cents.
Yes, apparently there is money to be made in the world of smart-diapers.
But it actually makes sense. As people age, their control over their bowels and bladder dissipates and can sometimes be accompanied by conditions like dementia, which make it difficult for them to communicate with carers.
Yesterday, Simvita got a crucial CE mark approval for its SmartzTM product, which allows it to be sold throughout the European Economic Area.
This is what it did to SVA shares when the announcement was released yesterday afternoon along with a subsequent AGM presentation:
We look at what Simvita does and its path to commercialisation.
Simvita share price reacts to EU approval, presentation
The Simvita share price started moving yesterday afternoon, but really took off today.
The CE mark approval ‘enables Simavita to commercialise our disruptive technology for adults and infants across the European Economic Area as well as in other regions that recognise CE Mark,’ Executive Chairman Michael Spooner said.
The AGM presentation also laid out Simvata’s plans for commercialisation of their product:
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What Simvita does…
Simvita’s smart-diapers may fill a pressing need in the market, a market for diapers that Simvita’s presentation claims is worth $64 billion in annual sales.
The recent Aged Care Royal Commission adds further impetus to Simvita’s commercialisation effort.
While major diaper suppliers also have smart products, Simvita believes its product has key advantages over them.
It is a cloud-based system, which includes an App for alerts.
It’s perhaps the strangest piece of technology we’ve encountered here at Money Morning, but the market always throws up niche areas of innovation, so in a way we’re not surprised.
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