NEW YORK and DELTA, British Columbia, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering technology and healthcare stocks releases a snapshot looking at how healthcare is changing in the digital age.
Investorideas recently reported on how Digital Health technologies enabling out-of-hospital care and monitoring are forecast to grow by 30 percent and cross the $25 billion mark.
In the article, Kamaljit Behera, Industry Analyst, Transformational Health, said, "In this highly digitized environment, artificial intelligence (AI) will permeate the life sciences ecosystem, and its use in healthcare IT (HIT) is likely to cross $1.7 billion by the end of 2019. AI-powered IT tools that manage payers and providers business risks in clinical, operational, financial and regulatory settings will especially find high uptake. Blockchain in healthcare is slowly starting to migrate from pilot proof of concept (PoC) to early commercial implementations.”
Innovest Global Inc. (OTC: IVST), a conglomerate with operations in commercial and industrial products and services, biotechnology, construction and building materials is one such company focused on the future of Digital Health. Innovest recently provided a recap of the company’s solid performance, milestones and achievements in 2018 and their outlook for 2019.
The letter recaps the journey from a seven-employee company at the beginning of 2018 that generated $58,000 in revenue, to ending 2018 on a $40 million annual revenue run-rate with a conglomerate of operating businesses spanning various industries and 75 employees. Management expects at least 20% organic growth for 2019.
Daniel G. Martin, Founder, Chairman and CEO of Innovest commented, “We are the best-equipped company in biotech to help scientists and biotech companies achieve commercial success right now.”
Martin continued, “Innovest Global’s Biotech Division seeks to grow by targeting companies with innovative and transformative technologies in the Digital Health and Medical Device space. Nonetheless, we are also considering transformative technologies in stem cell biology and immunotherapy. Digital Health is one of the fastest growing markets in biotech. We seek to identify companies that have products in the market and are seeking accelerated and stable growth moving forward. More importantly, we want technology that will truly improve the quality of life for relatively healthy individuals and those that are struggling with debilitating conditions, including stroke, heart disease, brain injury and other disorders.”
Companies like eWellness Healthcare Corporation (OTCQB:EWLL), a provider of the state of the art PHZIO platform for the physical therapy ("PT") and telehealth markets, recently announced the launch of a new body health assessment branded under the name "WellFit" that will operate on the company's PHZIO digital treatment platform.
The WellFit Exam is an online screening test designed to provide the participant with a comprehensive body health assessment. The results of the test will help guide the participant to areas which may need more focused efforts to allow them to engage in a more healthy and pain-free lifestyle. These online examinations will be performed in real-time by a licensed doctor of physical therapy. Physical therapists are uniquely qualified to assess and prescribe exercise-based interventions based around movement deficiency and dysfunction.
Digital Health companies like ResMed (NYSE:RMD) (ASX:RMD), a leader in cloud-connected medical devices and out-of-hospital software-as-a-service (SaaS) business solutions, have been making acquisitions, such as their recent announcement regarding its acquisition of Propeller Health, a digital therapeutics company providing connected health solutions for people living with chronic obstructive pulmonary disease (COPD) and asthma.
Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, is a good indicator of the Digital Health market as the company reported a further growth year-over-year in revenue and number of prescriptions filled for December 2018.
In December, the company reported a total of $1.7 million in net revenue, a 6% increase from the same month last year, and a 45% increase in prescriptions filled during the same month last year, totaling nearly 28,332 prescriptions filled. This marks the strongest finish to the year in company history.
Companies like Innovest are fast becoming the rule, not the exception, as more companies begin to invest in the Digital Health market - the future of healthcare.
For investors following the sector, Investor Ideas has created a directory of biotech and medical technology stocks
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