CORAL GABLES, FL / ACCESSWIRE / November 12, 2018 / Changing trends in healthcare have helped the industry evolve over the year. Most recently, advancements in technology are spurring innovation within the market. The Smart Medical Devices Market, for example, is expected to witness healthy growth (no pun intended) according to a report by Market Research Future*.
Biotech companies have found that this demand is unwavering and are working toward catering to it by increasing investments toward the development of more efficient methods of self-administration of drugs and diagnosis. Patient-centric biologics and the growing participation of patients in their treatments, for example ''have significantly increased the demand for Smart Medical Devices. Market Research Future's report provides insights into the market and reveals various important market figures along with predictions for the market over the assessment period.''
Sector trends in healthcare technology and new treatments for rare diseases have sparked more interest in sector stocks. With these trends in mind companies in focus today include Premier Health Group, Inc. (PHGRF) (PHGI), Matinas BioPharma Holdings, Inc. (NYSE American: MTNB) and Inovalon Holdings, Inc. (INOV)
In October, Premier Health Group, Inc. (PHGRF) (PHGI) recently announced that it has selected Reliq Health Technologies Inc. as its exclusive technology partner. Reliq will be providing Premier's subsidiary, HealthVue, primary care clinics with a HealthVue-branded telemedicine, remote monitoring & AI solution for its clinical staff and more than 100,000 active patients. Premier Health Group, Inc. (PHGRF) (PHGI) is focused on developing innovative approaches that combine human skill based expertise with emerging technologies for the healthcare industry. The company has recently seen market activity that is higher than average and could be attributed to the company's most recent announcements.
Premier Health Group, Inc. (PHGRF) (PHGI) announced this month that as a part of its expansion plans it will enter the Pharmacy market via acquisition and/or launching a new Canada based pharmacy in H1-2019. With Premier's acquisition of HealthVue Medical Clinics in August, this could be the next phase of growth for the company.
Matinas BioPharma Holdings, Inc. (NYSE American: MTNB) is a clinical-stage biopharmaceutical company. This morning the company announced its financial results for the third quarter ended September 30, 2018 and provided a corporate update.
Jerome D. Jabbour, Chief Executive Officer of Matinas. ''In witnessing the enthusiasm and potential surrounding our differentiated LNC platform delivery technology, coupled with recent third-party landmark data announcements demonstrating that certain omega-3 fatty acids can have a significant impact on overall cardiovascular health, we find ourselves in the enviable position of having two potential best-in-class assets. As the only drug currently in development with head-to-head data demonstrating statistical superiority to Vascepa® on a variety of lipid measures, highlighted by an approximately six-fold higher AUC and Cmax and higher bloods levels of EPA, MAT9001 is uniquely positioned to aggressively move forward in development with the assistance of a world class team of advisors. While recently announced data in this space is very impressive, we believe there are exciting opportunities to create potential differentiation and be very thoughtful with trial design and execution. Our goal with this clinical development program is to establish MAT9001 as a potential best-in-class therapy for the benefit of patients in this projected multi-billion dollar emerging prescription-only omega-3 class.''
Shares of Matinas traded as high as $1.59 per share
Inovalon Holdings (INOV) is a leading technology company providing an integrated cloud-based platform that enables healthcare organizations to implement large-scale highly sophisticated data-driven initiatives. The company reported third quarter results this week. Its Q3 revenue came in at $145.8 million and Non-GAAP net income of $16.3 million, resulting in Non-GAAP net income of $0.11 per share.
''We have seen an increasingly strong inflection in our business on many fronts over the recent months with significant increases in client retention rates, renewal performance, and new sales, all while concurrently continuing to expand value to clients and margin performance for the Company,'' said Keith Dunleavy, M.D., Inovalon's chief executive officer and chairman of the board.
''While the timing of some new and expanded business engagements has been later than we previously estimated, and the conversion of substantially all remaining legacy contracts to subscription-based contracts and discontinued pursuit of new legacy contracts impacted revenue for the few months remaining of the year, steep increases in multiple relevant metrics across the board are driving a strong 2019 outlook of 19% to 23% revenue growth, including organic growth of 12% to 14%, and strong Adjusted EBITDA, all with nearly 95% coverage visibility even at this early date.''
Shares of Inovalon climbed to highs of $11.53 on Friday.
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*Market Research Future: http://heraldkeeper.com/market/smart-medical-devices-market-165703.html