This bracer is designed to monitor your vital signs and supply the Jobe scientists with data for their research. Drake Rodriguez on the Biosphere platform will be interested taking readings regularly. Seek him out!
The bracer also has other uses. Click the Wear button on the manu to open your Wear Window. Left-click the barcer and move it to the Wear Window. Click again to equip it on your wrist, and it will provide you with a protective bonus.
Also put the bracer on the shortcut bar by picking it up and clicking it on an open space on the bar. Activating this shortcut by left-clicking it or pressing the appropriate key (1-10 depending on where in the shortcut bar you placed the icon) will teleport you to Drake Rodriguez.