CORAL GABLES, FL / ACCESSWIRE / April 24, 2019 / If there was one industry to be aware of right now, it's the healthcare industry. On April 23, this sector lead the market to near record highs. This follows a tough week last week where most healthcare names saw the worst stretch selling all year.
What's helping drive the healthcare industry momentum? Healthcare consumerism and patient empowerment. These are the top healthcare industry trends, expected to change the way medical professionals approach their jobs. Definitive Healthcare's 2019 Annual Healthcare Trends Survey cited these two factors as major drivers to the future growth of the market. With this in the spotlight and healthcare stocks rallying, investors should pay attention to several key names in the space.
Teladoc Health, Inc. (TDOC) (Market Cap: $3.887B) saw shares trading higher during Wednesday's 4/24/2019 premarket session. The company recently entered into a collaboration with Cincinnati Children's Hospital Medical Center to develop the industry's first consumer pediatric telehealth platform. Since Cincinnati Children's is ranked number two on U.S. News & World Report's list of Best Children's Hospitals this could be a good opportunity for Teladoc. This collaboration will bring their expertise to help evolve the Teladoc Health licensed platform for pediatric needs.
Alan Roga, MD, president, Hospitals and Health Systems Teladoc Health explained in a press release, ''When it comes to healthcare needs, children are not small adults. That's why it is with a great deal of pride along with a sense of responsibility with which we take on this project, and we are committed to continually setting new standards for what's possible in virtual care around the world.''
TELUS Corporation (TU) (T.TO) (Market Cap: $22.116B) is one of Canada's largest telecom companies but it is also Canada's largest healthcare IT provider. Most recently the company has been focusing on patient access to care. On 4/23/2019 Telus announced that it will partner with Neil Squire Society to launch the TELUS Assistive Tech For Good™program.
Right now the program is available in British Columbia and Alberta, Canada. The program is designed to offer a custom solution that involved assistive technology to allow people with disabilities to independently access their TELUS smartphone or tablet to stay connected to the rest of the world.
Darren Entwistle, TELUS' President, and Chief Executive Officer explained that ''our portfolio of Connecting for Good initiatives are providing TELUS-subsidized access to the technologies that underpin the success of so many Canadians at risk of being left behind in our increasingly digital society. Through TELUS Assistive Technology for Good, and in collaboration with the Neil Squire Society, we are pleased to be able to empower Canadians of all abilities to participate fully in our digital world.''
Quest Diagnostics Incorporated (DGX) (Market Cap: $12.527B) is one of the healthcare stocks to watch following its latest earnings beat. The diagnostics testing company reported better than expected Q1 earnings on Tuesday 4/23/2019. Quest Diagnostics on Tuesday reported first-quarter net income of $164 million. Also, where Wall Street analysts expected Quest to report earnings per share (EPS) of $1.36, the company's actual EPS came in above expectations at $1.40. Quest Diagnostics expects full-year revenue in the range of $7.6 billion to $7.75 billion.
It's no wonder why shares of the company's stock sharply reversed in price from Monday 4/22/2019 lows of $84.94 to highs on Tuesday of $94.52.
Premier Health Group (PHGRF) (PHGI.CN) (Market Cap: $34.16M) comes in as the smallest company by market cap on the list but boasts a strong portfolio of healthcare technology. Over the better part of the last few months, the company has been on the acquisition path. Most notably, Premier Health secured the buyout of Cloud Practice, which brought its own portfolio of cutting-edge healthcare technology & access to millions of additional patients.
On April 24, 2019, the company announced that it will be working with a company called Bio Conscious Technologies to pilot an artificial intelligence (AI) powered remote patient monitoring tool. This tool will be integrated into Premier's Juno Electronic Medical Records (EMR) software and patient app. Once embedded into the Company's EMR and app, these analytical tools offer a process for enhancing health-related decisions and actions with pertinent, organized clinical knowledge and patient information to improve health and health care delivery.
''We are excited to finally be able to utilize data that was previously lost,'' said Dr. Essam Hamza, CEO of Premier Health. ''We hope to keep patients engaged throughout the day, making them the center of their care. We are confident as we empower patients to regularly use our smart and integrated app, they will have better health outcomes. Our research pilot with BCT is just one of many we have planned in the near future in the hopes of providing leading edge, innovative care to our patients.''
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