CORAL GABLES, FL / ACCESSWIRE / November 8, 2018 / The US healthcare market is seeing a higher levels of acquisition activity as providers race to capitalize on innovation and deliver a better consumer experience. In fact, the global digital health market is expected to reach $665.36bn by 2026 growing at a CAGR of 15.4% during the forecast period, according toStratistics MRC*.
Many traditional providers are turning to IT partners with digital capabilities on automation and analytics to support and overcome the challenges they are facing. One of these challenges is the competition from new digital healthcare entrants.
Premier Health Group, Inc. (PHGRF) (
"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," said Dr. Essam Hamza, CEO of Premier.
Premier Health Group, Inc. (PHGRF) (PHGI) entered the primary care clinic and health care technology business via the HealthVue transaction. Premier 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 health care professionals and over 100,000 active patients.
Inovalon Holdings (INOV) 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 $10.75 on Thursday.
NantKwest Inc. (NK) announced promising first human clinical results of 300 doses of CD16 targeted, off-the-shelf cryopreserved natural killer cells in a novel cancer memory vaccine immunotherapy this week.
Dr. Patrick Soon-Shiong, Chairman & CEO of NantKwest said, "High dose, uninformed, toxic chemotherapy damages the immune system and induces what is known as tolerogenic cell death. Natural Killer cells are the core innate immuno-protective mechanism against cancer. By developing a system of activating the patient's own Natural Killer cells and T cells, as well as augmenting the patient’s NK killing ability with engineering off-the- shelf NK transfusions, we hypothesize that resistant cancer can be overcome. We believe that current checkpoint inhibitors alone are insufficient to achieve long-term remission and only by inducing both the innate and adaptive immune system, and by orchestrating the treatment in a temporal-spatial sequence, will we induce T cell memory and long-term durable response. These early results of 300 doses of the Cancer Memory Vaccine in 30 patients over the course of the last 14 months are encouraging and suggest that we may be on the correct path to a paradigm change, leading ultimately to a chemo-free treatment of cancer patients, early in the course of their disease and ultimately to a path of cancer prevention."
Shares of NantKwest jumped to highs of $4.10 on Thursday; a move of more than 50%.
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