Nuvo Group Adds HealthTech Veteran Adriana Machado to Board of Directors, Strengthening Company’s Commitment to Transforming Prenatal Care

Following Nuvo’s NASDAQ Listing, Addition of Machado Brings Strong Health and Impact Experience to Remote Pregnancy Monitoring Pioneer

TEL AVIV, Israel, May 09, 2024 (GLOBE NEWSWIRE) — Holdco Nuvo Group D.G Ltd (NASDAQ: NUVO) (“Nuvo”), a pioneer in remote pregnancy monitoring, today announced the expansion of its board of directors with the addition of Adriana Machado, who will help guide Nuvo’s mission of addressing health disparities and social determinants of care through its advanced pregnancy monitoring technology.

“We are delighted to welcome Adriana to Nuvo’s board,” said Rice Powell, CEO of Nuvo. “She will provide a substantial health innovation perspective and female leadership that supports our mission. Adriana is also a true advocate for transformation and health equity, and we look forward to working with her to expand our efforts and market impact.”

Machado brings three decades of experience in business leadership, strategic planning and international relations. A celebrated business leader in Latin America, she was the first female CEO of GE Brazil, and is Founder of the Briyah Institute, a Benefit Corporation (B Corp) that ignites leaders to transform organizations by applying systems thinking to business. Ms. Machado holds board positions with various health and civil society organizations and, in 2013, was recognized by Forbes as one of the 10 most powerful businesswomen in Brazil.

“I am excited to join Nuvo’s board of directors at such a pivotal time in the Company’s development,” said Adriana Machado. “I look forward to bringing my experience of the international health innovation landscape to help the Company improve access to care for expectant mothers across the globe.”

About Nuvo

Nuvo is leading a transformation in pregnancy care by providing clinicians and expectant mothers with access to medically-necessary remote pregnancy monitoring anytime, anywhere. Nuvo’s INVU™ platform is an FDA-cleared remote pregnancy monitoring and management system. It enables the delivery of remote non-stress tests (NSTs) and maternal and fetal heart rate monitoring, while pioneering new data-driven personalized pathways that Nuvo believes can improve future health outcomes. INVU is being used by leading health providers and research institutions across the US and Israel. Nuvo plans to continue to expand the footprint of sales in the US and Israel and plans to introduce its INVU platform in Europe in 2024, subject to granting of the CE mark it filed in Europe in March 2023, to provide remote access and insights not previously deemed possible. Nuvo is led by a diverse team of experienced business, medical and technology leaders, united in the mission of breaking down barriers to pregnancy care to give every life a better beginning. For more information and complete indications, contraindications, warnings and precautions, and instructions for use, visit www.nuvocares.com.

Forward-Looking Statements

Certain statements contained in this press release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the possibility that other anticipated benefits of the business combination will not be realized; (ii) changes in general economic and/or industry specific conditions; (iii) the ability of Nuvo to retain, attract and hire key personnel; (iv) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the completion of the business combination; (v) legislative, regulatory and economic developments; (vi) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; and (vii) other risk factors as detailed in the registration statement (File No: 333-274803) on Form F-4 filed by Nuvo with the SEC in connection with the business combination and the prospectus/proxy statement contained therein, as well as those risk factors detailed from time to time in Nuvo’s reports filed with the SEC, including its Annual Report on Form 20-F and other documents filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, Nuvo does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACTS:

Investor Relations Contact
Nuvo Group
Ryan Kraudel
ryan.kraudel@nuvocares.com

Media Relations Contact
FINN Partners for Nuvo Group
Danny Sudwarts
danny.sudwarts@finnpartners.com
+1-469-297-2515