CORAL GABLES, FL / ACCESSWIRE / February 28, 2019 / The healthcare stock market has taken leaps and bounds in the first few months of the new year, with companies in the space working hard to develop innovative treatment options and healthcare services for their patients. It's no longer a case of whether a disease can be treated, but more importantly, is each patient receiving the highest quality of care for their iteration of said disease. No two anatomical systems are alike, so, naturally, drugs and treatments cannot be created with a one-size-fits-all approach. If companies in the healthcare sector continue to operate with a patient-centric focus, this may, in turn, draw more investors in search of potential opportunities. Premier Health Group (OTC:PHGRF) (CSE:PHGI), Aceto Corporation (ACET), OPKO Health Inc (OPK), and Midatech Pharma plc (NASDAQ:MTP) represent 4 healthcare stocks to pay attention to on Thursday.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) is a company which is laser-focused on developing innovative approaches that combine human skill-based expertise with state-of-the-art technologies to champion products and services meant to improve the quality of life for consumers.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) today announced the launch of at technology-enabled mental health counseling service for patients in urban centers and remote and underserved populations. Dr. Tahmeena Ali and Dr. Robert McKenzie are two Vancouver-based family physicians with extensive experience in mental health care and will be championing the initiative.
Following the announcement, Dr. Essam Hamza, CEO of Premier Health Group (OTC:PHGRF) (CSE:PHGI), commented, "it's disheartening to hear that 1 in 5 people in Canada will personally experience a mental health problem or illness and due to the lack of accessibility to care providers, we are failing to meet the needs of mental health care provision. Having the ability to offer virtual mental health counseling services is pivotal to our patient-centric app. Through my own practice, I have encountered a significant number of teens and young adults who would much rather use virtual services from the comfort of their home than come in person and wait in a busy waiting room to talk about their mental health."
Aceto Corporation (ACET), an international company engaged in the development, marketing and distribution of health products, announced earlier this month that it had entered into a "stalking horse" asset purchase agreement with an affiliate of New Mountain Capital, a leading growth-oriented investment firm with over $20 billion in assets under management, to sell its chemicals business assets for gross proceeds of $338 million in cash, plus the assumption of certain liabilities and subject to certain adjustments, on a cash-free and debt-free basis.
William Kennally III, Chief Executive Officer of Aceto, said, "for the past several months, the Board has been conducting a comprehensive evaluation of strategic alternatives to address the Company's debt burden in consultation with its financial and legal advisors while continuing to work cooperatively with its lenders. After assessing its options, the Board has determined that Court-supervised sales of Aceto's chemicals business assets and its subsidiary Rising Pharmaceuticals are in the best interest of the Company and its stakeholders."
OPKO Health Inc (OPK) found itself in headlines earlier this week when the Company reported business highlights and financial results for the three months ended December 31, 2018. Per the details of the results, the Company recorded $21.8 million of non-cash impairment to Goodwill and in-process research and development related to its active pharmaceutical ingredient business and the suspension of the Phase 2b clinical trial for its selective androgen receptor antagonist for benign prostatic hyperplasia.
In addition to their generated revenue, the Company recorded a $28.3 million income tax benefit during the fourth quarter of 2018 primarily as a result of valuation allowance releases in foreign jurisdictions. The comparable period of 2017 includes a $61.2 million income tax provision, principally as a result of the Tax Cuts and Jobs Act as well as recording a valuation allowance against U.S. based deferred tax assets.
Midatech Pharma plc (MTP), the company focused on delivering innovative oncology and rare disease products to patients, announced earlier this week that further to the announcement made by the Company on 29 January 2019 and following the approval at yesterday's general meeting by shareholders of the strategic investment by China Medical Systems Holdings Limited group and A&B, the license agreement entered into by the Company and CMS is now formally in force.
Following the announcement, Dr. Craig Cook, CEO of Midatech, said, "we are delighted to finalize the license agreement with China Medical Systems, a leading Hong Kong-based Chinese pharmaceutical company. This is a key collaboration for Midatech that provides a strong endorsement of our technologies and pipeline whilst establishing a solid foundation for a successful and ambitious long-term partnership. The agreement will enable development of current and new products and extend our reach to the important markets of China and South East Asia."
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