CORAL GABLES, FL / ACCESSWIRE / November 5, 2018 / Healthcare companies are taking a new and novel approach the health tech in the form of new innovation that takes the guesswork out of tracking health & reporting results. Furthermore, new digital screening technology is allowing both patients and physicians to better understand many different health issues, more clearly. Roughly 10,000 boomers retire every day. The youngest, born in 1964, won't turn 65 until 2029. Considering the inevitable medical issues that come with old age, companies in this sector could potentially be looking at decades of strong demand.
Things like Wireless Healthcare are highly ambitious with the presence of various players with current and future market outlook in the developed and emerging markets. According to information from Market Reports World*, the global wireless healthcare market is expected to witness a compounded annual growth rate of 27.30 % during the forecast period of 2018-2023. The market is growing at a fast pace with the rise in growth, the growing number of Wireless Healthcare procedures, competition, and M&A activities. Today we're taking a closer look at Premier Health Group, Inc. (PHGRF)(PHGI.CN), Titan Pharmaceuticals (TTNP) and Rite Aid Corporation (RAD).
Premier Health Group, Inc. (PHGRF)(PHGI.CN) announced this morning 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. Premier Health Group, Inc. ( PHGRF )(PHGI.CN) entered the primary care clinic and healthcare technology business via the HealthVue transaction and obtained access to a group of four Greater Vancouver-based fully integrated, paperless and electronic-medical-record-based medical clinics with a 10-year history, 22 healthcare professionals and over 100,000 active patients.
In the U.S. market, alone, the Telehealth industry is on fire right now, predicted to reach a $2.8 billion valuation by 2025, with the heat only intensifying with time. According to Reuters, the deployment of telemedicine has significantly altered the healthcare paradigm, due to the many technological advancements in the field of medical devices and services. With the growth that the mobile health segment is expecting, this news comes well timed.
Premier Health Group, Inc. ( PHGRF )(PHGI.CN) is actively reviewing a pipeline of additional pharmacy partners, which include bricks and mortar locations for acquisition and strategic new retail opportunities for pharmacies. "It is our position that the emergence of technology such as the ability for patients to electronically send their prescription(s) to a pharmacy for fulfillment and pick up at a later time or delivery directly to them at home or work will result in increased patient and consumer enrollment in apps that offer this type of functionality," added Dr.Hamza. Furthermore, the Company expects to provide additional updates on acquisitions in Q4-18 and Q1-19.
Titan Pharmaceuticals (TTNP) has seen a higher trading volume over the last week. ProNeura™, Titan's innovative drug delivery platform, is advancing the treatment of select chronic diseases by delivering low-dose, non-fluctuating medication levels for up to one year following a single procedure.
Titan Pharmaceuticals develops proprietary therapeutics for the treatment of select chronic diseases. The company's lead product is Probuphine, a six-month buprenorphine implant for the maintenance treatment of opioid addiction. The U.S. Food and Drug Administration approved Probuphine on May 26, 2016. Probuphine is the first marketed product to provide maintenance treatment of opioid addiction continuously for six months, according to the company.
Last month, Knight Therapeutics Inc. (GUD) announced the commercial availability of PROBUPHINE™ (buprenorphine hydrochloride subdermal implant), for the management of opioid dependence in patients clinically stabilized on no more than 8 mg of sublingual buprenorphine in combination with counseling and psychosocial support. Knight has the exclusive right to distribute PROBUPHINE in Canada under a license agreement with Titan Pharmaceuticals, Inc.
Shares of Titan reached early highs of $0.44 on Monday morning
Rite Aid Corporation (RAD) announced the preliminary results of stockholder voting that took place during the Company's 2018 Annual Meeting of Stockholders earlier today. As previously announced, Bruce G. Bodaken was appointed Chairman effective as of the meeting. Mr. Bodaken assumes this role from John T. Standley who will remain Chief Executive Officer and a member of the Board.
Rite Aid is one of the nation's leading drugstore chains with fiscal 2018 annual revenues of $21.5 billion. The company also owns EnvisionRxOptions, a multi-faceted healthcare and pharmacy benefit management (PBM) company supporting a membership base of more than 22 million members
Further to the expansion that mobile health could see in the future, Rite Aid is also taking a step in the same direction. More than 4,000 Rite Aid pharmacies nationwide now make it available for customers to access a suite of connected health and safety products and services via GreatCall. By providing an easier and more convenient method of managing health needs, GreatCall and other mHealth tech companies are bringing older adults into the mobile health market, which benefits the health care system and also provides this population of people with much-needed support.
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