[ACCESSWIRE]
CORAL GABLES, FL / ACCESSWIRE / November 16,2018 / There's no denying the progress that the healthcare industry has made. The newest wave of progress,however has much to do with technology. According to analyst firm Market Research Engine, the E-Health Market is expected to exceed more than US$136 Billion by 2024 at a CAGR of 21% in the given forecast period. In addition to this eye-opening data, reports also suggest that Wall Street is taking aim at the sector and shuffling funds toward this market. Bank of America surveyed** 225 fund managers with $641 billion in assets under management, who said the most "crowded trade" is in tech stocks.
Investors are the least optimistic on tech stocks like these since the depths of the financialcrisis, and are instead directing attention to another corner of the market: healthcare. So as popularity continues to rise, here are 4 companies that healthcare investors may be taking a closer look at heading into the thick of the fourth quarter: Premier Health Group, Inc. (PHGRF) (PHGI), Teladoc Health, Inc. (NYSE: TDOC), Aeterna Zentaris Inc. (NASDAQ: AEZS) and BioScrip, Inc. (NASDAQ: BIOS)
Premier Health Group, Inc. (PHGRF) (PHGI) is focused on developing innovative approaches that combine human skill-based expertise with emerging technologies for the healthcare industry. The company is taking on new growth opportunities in the healthcare market. Earlier this month, Premier Health announced that as a part of its expansion plans it will be entering the Pharmacy market "via acquisition and/or launching a new Canada based pharmacy in H1-2019." With Premier's acquisition of HealthVue Medical Clinics in August, this could be the next phase of growth for the company. Premier Health Group, Inc. (PHGRF) (PHGI) said that it expects to provide additional updates on acquisitions in Q4-18 and Q1-19 so this could be one of thenear term events to consider.
This week Premier Health Group, Inc. (PHGRF) (PHGI) also announced that it will be breaking into another growing arena: cannabis. Premier announced on Thursday that it will enter the Cannabis clinic space by a series of acquisitions, partnerships and/or launching a new Canada -based chain in the first half of 2019. Following the news, shares of the company moved up from a Wednesday close of $0.61 to highs of $0.64 on Friday.
For More Information On Premier Health Group, Click Here
Teladoc Health, Inc. (TDOC) recently announced the appointment of Mark Douglas Smith, MD, MBA, to its board of directors earlier this month. Dr. Smith is a professor of clinical medicine at the University of California at San Francisco (UCSF) and a nationally-recognized health policy and delivery system expert.
"Mark is a distinguished physician and healthcare leader with a passion for assuring access to care for all, and we are pleased to welcome him to the Teladoc Health board," said Jason Gorevic, Teladoc Health CEO. "Mark's accomplished background complements our mission and enduring commitment to transform the care experience."
Inaddition,Teladoc reported that together with the University of Southern California Schaeffer Center for Health Policy & Economics and Northwestern University, the company will be leading the first-ever, large-scale study to assess antibiotic prescribing practices in telehealth. The five-year project is funded through a grant from the Department of Health and Human Services' Agency for Healthcare Research and Quality and as part of the White House's National Action Plan for Combating Antibiotic-Resistant Bacteria (CARB). This study is expected to set a new precedent inmedical literature by adding specific standards for telehealth and virtual care.
Following this news, shares of the company rallied from lows of $56.30 on Thursday to as high as $61.85 on Friday morning
For More Information On Teladoc, Click Here
Aeterna Zentaris Inc. (AEZS) shares gapped up to $3.03 on Friday morning. Aeterna is a biopharmaceutical company engaged in developing and commercializing pharmaceutical products. This month the company reported financial and operating results for the third quarter ended September 30, 2018.
Among key highlights, Aeterna pointed out thathe Company's financial condition remains strong with $16.8 million of cash and cash equivalents and no debt. The company is focused on developing and commercializing, principally through out-licensing arrangements, Macrilen™ (macimorelin), an oral ghrelin receptor agonist, to be administered in the diagnosis of patients with adult growth hormone deficiency. Aeterna Zentaris has licensed Macrilen™ (macimorelin) to Strongbridge Biopharma plc in the United States and Canada.
For More Information On Aeterna, Click Here
BioScrip, Inc. (BIOS) also saw its shares climb on Friday. Most recently the company reported its quarterly financials. Net revenue of $181.0 million, compared to $198.7 million in the third quarter of 2017. Excluding exited UHC therapy line revenue from the prior year quarter, net revenueincreased approximately 5%. Furthermore, adjusted EBITDA came in at a value of $16.4 million, 25% above the prior year quarter, driven by a 510 basis point improvement in gross profit margin, reflecting ASC 606 pro forma adjustments.
Daniel E. Greenleaf, Presidentand Chief Executive Officer, commented, "BioScrip achieved record third quarter adjusted EBITDA driven by revenue growth, higher gross profit margin, and ongoing operating expense discipline. We delivered comparable revenue growth for the first time since the fourth quarter of 2015. Given the team's strong third quarter performance and our momentum that is expected to continue into the fourth quarter, we are increasingfull year 2018 guidance for revenue between $710 million and $720 million*, and maintaining our adjusted EBITDA guidance between $54 million and $58 million."
BioScrip is a national provider of infusion and home care management solutions, with approximately 2,100 teammates and nearly 70 service locations across the U.S. BioScrip partners with physicians, hospital systems, payors, pharmaceutical manufacturers and skilled nursing facilities to provide patients access to post-acute care services.
For More Information On Bioscrip, Click Here
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*Market Research Engine Report: https://www.marketresearchengine.com/e-health-market
**Bank of America Survey: http://rsch.baml.com/r?q=ui5Blsf2sZL82JuY5OSH6g&e=cburroughs%40businessinsider.com&h=0tU5cQ&ps=true
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