Canadian CBD extraction company Neptune Wellness Solutions Inc. NEPT NEPT announced Monday the introduction of Neptune Halo, an electronic device monitoring the oxygen saturation levels and pulse rate of the patients.

The company claims that its new pulse oximeter - developed by the company's Health & Wellness Innovations division - is essential in the fight against coronavirus.

According to the American Lung Association, it's a noninvasive device, requiring no needles or blood sampling.

"Patients with COVID-19 can experience a potentially dangerous drop in oxygen saturation without having obvious breathing problems," stated Dr. Richard Levitan, an emergency physician in Littleton, N.H, in the New York Times. "Without a pulse oximeter, they might never know it or get very used to how they feel, despite very low oxygen levels."

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Levitan further explained that patients often seek medical help when their oxygen levels drop significantly, already suffering from pneumonia-related to COVID-19.

Per Monday's press release, Neptune's health and wellness products have been developing alongside oximeter, including Neptune Air non-contact thermometer and hand sanitizer products.

"Neptune Halo is another example of Neptune's ability to rapidly respond to market needs and deliver high quality products at value pricing as a diversified and fully integrated health and wellness company," said the company's CEO, Michael Cammarata, in a statement.

"We are proud to do our part to help people better monitor their health and identify when a COVID infection is reducing oxygen levels."

The company is building its so-called B2C (business-to-consumer) and B2B (business-to-business) strategies by teaming up with retailers and influential individuals across the country.

Some of the company's latest moves include signing a $16.5 million extraction deal to process up to 44,000 kilograms of crude and distillate from hemp and partnering with Google's Growth Acceleration Team to advertise its products on Google's advertising platforms.