The multi-trillion-dollar U.S. healthcare market is broken. At the moment, the system is fragmented, meaning there exists a lack of coordination that often results in an inefficient allocation of resources. “Fragmentation adversely impacts quality, cost, and outcomes. Eliminating waste from unnecessary, unsafe care is crucial for improving quality and reducing costs-and making the system financially sustainable,” says The American Journal of Managed Care (AJMC). On top of that, rising health care costs are forcing, with many patients spending money on ineffective solutions. However, digital health solutions may be able save the healthcare industry billions of dollars – and give care givers, patients, and health professionals easy access to necessary health data far quicker. That’s where a company, like AI/ML Innovations (CSE:AIML)(OTC:AIMLF) and its Health Gauge subsidiary, a leading digital health solutions provider, may be able to help.
Other top companies involved with digital health include WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF), Relay Medical Corp. (CSE:RELA)(OTC:RYMDF), Apyx Medical Corporation (NASDAQ:APYX), and CloudMD Software & Services Inc. (TSXV:DOC)(OTC:DOCRF).
AI/ML’s Health Gauge Releases Phoenix Wearable Line
AI/ML Innovations’ (CSE:AIML)(OTCQB:AIMLF) Health Gauge is a leading digital health solutions provider – in a potential $245 billion global digital health monitoring market – that could help transform the traditional healthcare industry by providing AI innovations and services which improve health outcomes while reducing costs and stresses on healthcare infrastructure.
AI/ML Innovations Inc., a company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce that its subsidiary, Health Gauge, introduces “The Phoenix”, the newest, leading-edge version of its wearable health monitoring solution.
The Phoenix provides all the health analytics that Health Gauge’s users have come to expect from its world-class wearable health monitors (smart watch), including the ability to monitor blood pressure, heart rate, heart rate variability, ECG, PPG, step count, sleep patterns and more, while working in tandem with Health Gauge’s proprietary, AI-powered cloud application. In addition, The Phoenix also includes a blood-oxygen sensor, skin temperature, respiratory rates, and 24-hour heart rate sensing by way of the latest generation of robust data capture sensors, combined with a bigger and brighter display, and improved battery life.
“We are excited to add The Phoenix to our product line,” said Tim Daniels, Executive Chairman of AI/ML Innovations Inc. “This product improves an already outstanding user experience, and further enhances the user’s ability to make immediate and impactful health-related lifestyle choices. Clearly, The Phoenix is a premium product rivaling the best in the marketplace today. Additionally, we timed of the launch of this new product to match the depletion of our inventory of our first model, The Genesis, which sold out rapidly”.
The Phoenix is available for immediate purchase for CAD$150 at https://healthgauge.com/product/
Other related developments from around the markets include:
WELL Health Technologies Corp., a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce it has entered into a definitive share purchase agreement dated June 4, 2021 to acquire all of the issued and outstanding shares of MyHealth Partners Inc for a total transaction value of C$206M plus a future conditional earn-out of up to C$60M. MyHealth provides primary care, specialty care, telehealth services and accredited diagnostic health services from 48 locations across Ontario.
Relay Medical Corp. and Fio Corporation - through their joint venture company Fionet Rapid Response Group– are pleased to provide an update on the Lester B. Pearson International Airport CV-19 Airport pilot testing program started earlier this year. At the beginning of March 2021, The National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) funded the first of its kind biosecurity testing solution to screen airport staff and departing travelers for CV-19 through the deployment of the Fionet platform. The Company is pleased to report that funding for the feasibility study has been extended to July 9, 2021 allowing CV-19 testing to continue free of charge for employees and international travelers at Toronto Pearson in efforts to determine a permanent facility.
Apyx Medical Corporation, a maker of medical devices and supplies and the developer of Helium Plasma Technology, marketed and sold as Renuvion in the cosmetic surgery market and J-Plasma in the hospital surgical market, reported financial results for its first quarter ended March 31, 2021, and updated financial expectations for the full year ending December 31, 2021. “We are raising our full year 2021 financial guidance today to reflect the encouraging adoption and utilization trends that we have seen and confidence in our outlook for the balance of the year. With a strong balance sheet, a multi-billion dollar potential market opportunity and innovative technology supported by an expanding portfolio of evidence, Apyx Medical remains very well-positioned to deliver strong revenue growth and improving financial performance. We look forward to delivering exceptional performance as the world continues to recover from the effects of CV, while continuing to lay the foundation for our future growth,” as noted by Charlie Goodwin, President and Chief Executive Officer.
CloudMD Software & Services Inc., a healthcare technology company revolutionizing the delivery of care, announced its financial results for the first quarter ended March 31, 2021. All financial information is presented in Canadian dollars unless otherwise indicated.
Dr. Essam Hamza, CEO of CloudMD commented, “We are excited to share our record Q1 2021 financial results that continue to improve quarter over quarter. Q1 was a transformative period for CloudMD, as we closed 5 acquisitions, adding $13 million in annualized revenue and establishing the foundation for our Enterprise Health Solutions division. I am very proud of the strategic roadmap we have built and the team’s ability to execute on our growth strategy. We identified key acquisition targets that were synergistic to our overall vision and we remain focused on building a complete healthcare ecosystem, providing connected, holistic care. We continue to integrate all of our capabilities into one comprehensive platform, which is the foundation for scale and expansion. Within our Enterprise Health Solutions division, we have already seen significant early adoption and through cross-selling opportunities, attained over $5 million in new multi-year contracts in the first quarter. Equally exciting is that CloudMD already has a revenue run rate of over $120 million, and through highly profitable acquisitions coupled with organic growth and realization of cost synergies, we expect to be profitable in the second half of 2021.”
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