Millions of people are are turning to digital health solutions, helping to create a potential $456.9 billion opportunity by the time 2026 rolls around. In fact, after the health scare, government and healthcare systems around the world are now beginning to realize just how essential digital health has become, in addition to the role it plays in providing higher quality, easily accessible, and affordable care, as noted by Forbes. 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.
“Advances in telehealth, digital pharmacy, remote patient monitoring and the rapid adoption of these kinds of digital health tools have provided meaningful patient impact and increased the interconnectivity among healthcare providers and their patients. Digital strategies that were expected to take 10 years to accomplish may now be compressed into three,” added Forbes. All of which is great news not only for AI/ML Innovations, but also for Reliq Health Technologies Inc. (TSXV:RHT)(OTC:RQHTF), WELL Health Technologies Corp. (TSX:WELL) (OTC:WLYYF), XORTX Therapeutics Inc. (CSE:XRX)(OTC:XRTXF), and Therma Bright Inc. (TSXV:THRM)(OTC:TBRIF).
Look at AI/ML Innovations, for example
AI/ML Innovations (CSE:AIML)(OTCQB:AIMLF), a company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce that its majority-owned subsidiary, Health Gauge, has entered a strategic partnership with AI-on-Call to deliver a digital remote patient monitoring solution for the early prediction, diagnosis, and prevention of sepsis and acute illness in seniors (whether in Assisted Living, Nursing Homes, Hospital, or Home settings).
HG’s smartwatch solution and AI-driven cloud platform combine with AI-on-Call’s novel protocols and algorithms to improve the timely capture of requisite health data, support the rapid identification and prioritization of at-risk patients for sepsis and acute illness, and ultimately facilitate improved outcomes through the quicker engagement of care team professionals.
Three seniors’ facilities located in British Columbia have been identified as the initial deployment target for the joint solution, while the near-term market opportunity is focused on British Columbia, Alberta and Ontario seniors’ facilities. There are over 60 million seniors in North America who could benefit from this service, including 6 million in Canada alone.
“The World Health Organization states that sepsis affects more than 30 million people globally, and kills 6 million people every year” said Tim Daniels, Chairman of AIML. “A powerful tool such as that offered by the combined offering by Health Gauge and AI-on-Call can improve the outcome of patients with sepsis while simultaneously helping to reduce overall healthcare costs.”
HG’s “Health Gauge App” will provide the front-facing end-user interaction, and data capture technology (heart rate, blood pressure, respiratory rate, temperature, and oxygen saturation) integral to the success of the AI-on-Call solution. Additionally, data from AI-on-Call services are to be stored in HG’s data store systems, currently being managed by MedStack services, and within an Azure-based platform.
It is anticipated that HG’s products and services, integral to the AI-on-Call solution, will be priced as follows:
- HG Phoenix Wearable (MSRP): $200
- HG BMI Weight Scale (MSRP): $100
- HG Thrive Monitoring Subscription: $5.00/month
- HG Value-add Reports: TBD
- AI-on-Call subscription revenue (provided via HG platform): 15% residual + 10% eComm/operations
The go-to-market user service price will be adjusted upon the completion of pilot and market testing.
Other related developments from around the markets include:
Reliq Health Technologies Inc., a rapidly growing global telemedicine company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market announced that it has signed contracts with six new US primary care physician practices to provide its iUGO Care platform to their chronic disease patients. “We are pleased to announce that we are adding six new US physician practices and over 4,000 new patients to our iUGO Care platform,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “These primary care physician practices will be using our iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules. The average revenue from these contracts will be >$40 USD per patient per month. Onboarding with all six clients will begin this month and is expected to be completed in October. New client acquisition and patient onboarding has been accelerating significantly through July and we expect to continue to experience rapid growth in the business through the remainder of the year, and for the foreseeable future beyond 2021. The current quarter will be Reliq’s first full profitable quarter, which is a major milestone for the company.”
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 stock purchase agreement dated September 1, 2021 with the shareholders of WISP, Inc., a US technology leader and innovator in the delivery of quality telehealth and e-pharmacy experiences specializing in women’s health to acquire a majority of the issued and outstanding shares of WISP for total a total transaction value of approximately US$41 million, which includes a future conditional earn-out of up to approximately US$7.4 million.
XORTX Therapeutics Inc., a biotechnology company focused on developing therapeutics for the treatment of progressive kidney disease, is pleased to advise that further to its press release of April 6, 2021 that announced the intention of grant, the Company has now received receipt of the patent grant “EPO National Stage of PCT International Application for Compositions and Methods for Treatment and Prevention of Hyperuricemia Related Health Consequences” by the European Patent Office. The patent covers compositions and methods for the prevention and treatment of diabetic nephropathy (DN) using uric acid lowering agent and specifically xanthine oxidase inhibitors. Aberrant purine metabolism and specifically, chronically increased serum uric acid concentrations have been associated with kidney disease progression.
Therma Bright Inc., developer of its smart-enabled AcuVid™ COVID-19 Rapid Antigen Saliva Test and other progressive diagnostic and medical device technologies, is pleased to provide an update on its AcuVid™ Saliva Test with the US Food & Drug Administration's Emergency Use Authorization (EUA) application. "During the past 30 days, the Therma Bright team has been actively engaged with officials at the FDA around our first-of-its-kind AcuVid™ COVID-19 Rapid Antigen Saliva Test and our successful clinical study results," expressed Rob Fia, CEO of Therma Bright. "The team, with support from our US development partners, have successfully completed and submitted additional research and documentation requested by the FDA, and we now wait for the Administration to complete its review for Emergency Use Authorization."
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