CORAL GABLES, FL/ ACCESSWIRE / December 26,2018 / With 2019 just around the corner, the biotech industry is buzzing with excitement surrounding announcements of innovative treatment lotions and medical technologies designed to improve the quality of care for those suffering from all types of diseases and ailments. As companies work to develop new approaches to medical care which cater to both the needs and demands of consumers, the biotech industry may see significant market attention in the new year. Premier Health Group (PHGRF) (PHGI), Teladoc Health, Inc (TDOC), MINDBODY Inc (MB), and Adial Pharmaceuticals Inc (ADIL) are 4 biotech stocks representing companies working towards the future of their sector.
Premier Health Group (PHGRF) (PHGI) is a company with laser-focus in terms of investing and creating products to improve the quality of care available to consumers. HealthVue, one of the Company's integral subsidiaries, is currently developing proprietary technology to deliver healthcare through a network of interconnected primary care clinics any way of integrating artificial intelligence and telemedical technologies.
Recent reports indicate that the Company currently supports a member-network of over 100,000 active patients, with plans to increase membership on both domestic, as well as global scale.
At the tail-end of last week, Premier Health Group (PHGRF) (PHGI) announced that, in an effort to further the Company's goal of developing top-of-the-line approaches that combine human skill-based expertise with technology optimized for the health care industry, it had signed a binding letter of intent (LOI) agreement to acquire all of the outstanding securities of Cloud Practice Inc.
Dr. EssamHamza, CEO of Premier Health, said: "We are ecstatic at the opportunity to build on our patient-centric technology platform through the integration of Cloud Practice's suite of software solutions. They have a strong team of developers who are just as enthusiastic as we are about the future of healthcare…"
Teladoc Health Inc (TDOC) announced earlier this month that, in order to maintain the Company's cohesive and forward-facing leadership team, Mark Hirschhorn, executive vice president, chief operating officer, and chief financial officer for the Company, would resign, effective January 1, 2019.
Prior to his departure, Hirschhorn issued a statement regarding his resignation in the form of an official press release, which stated: "While this was a difficult decision, it's the right one for my family and the company. It has been an enormous privilege to play a role in transforming how people access healthcare around the world, and I know the talented team at Teladoc Health is well positioned to continue advancing this important mission."
MINDBODY Inc (MB), a company gaining tread in the health industry for its appointment booking platform, announced on Wednesday that it has entered into a definitive agreement to be acquired by Vista Equity Partners, a leading investment firm focused on software, dataand technology-enabled business. Under the terms of the agreement, Vista Willaacquire all outstanding shares of MINDBODY common stock for a total value of approximately $1.9 billion. The Company's shareholders will receive $36.50 in cash per share, representing a 68% premium to the unaffected closing price as of December 21, 2018.
MINDBODY's leadership team shared their feelings on the agreement in an official press release:
"MINDBODY's purpose is to help people lead healthier, happier lives by connecting the world to fitness, beautyand wellness," said Rick Stollmeyer, Co-Founder and CEO of MINDBODY. "We are thrilled to provide immediate liquidity to our shareholders at a significant premium to market prices and to leverage Vista's resources and deep expertise to accelerate our growth while achieving that purpose more effectively than ever before."
Adial Pharmaceuticals, Inc (ADIL), aclinical stage biopharmaceutical company focused on developing medications to remediate those suffering from addiction, announced on Wednesday that the holder of the sole remaining, outstanding convertible note has fully converted the balance of the note into common shares of the Company. As previously reported, the convertible note had a face value of $325,000 and was convertible into 162,5000 shares of common stock, according to a press release regarding the matter.
William Stilley, CEO of Adial Pharmaceuticals, commented, "As we position Adial for continued success in 2019, I am pleased to report that we have now completed the retirement of all outstanding debt instruments by facilitating the conversion of this note obligation. We appreciate the support and confidence this shareholder has provided leading up to and since our recent IPO. Looking ahead, our goal is to drive shareholder value in the coming year by achieving key clinical milestones, while maintaining a clean capital structure andhealthy balance sheet."
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