FIT - Healthcare Technology Stocks Investors Should Know About
CORAL GABLES, FL / ACCESSWIRE / November 1, 2018 / The healthcare sector is seeing a dynamic shift in what leads growth for this market. The "usual suspects" that include traditional drug therapies and FDA submissions are still very evident but a newcomer has added to the mix. Healthcare technology has been boosting attention on healthcare stocks recently. The MarketsAndMarkets report "Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, HIE, Telehealth, Healthcare Analytics, Population Health Management, Supply Chain Management, CRM, Fraud Management, Claims Management) End User (Provider, Payer) - Global Forecast to 2021", shows that the healthcare IT market is projected to reach $280.25 Billion by 2021 from $134.25 Billion in 2016, at a CAGR of 15.9% during the forecast period. Healthcare innovation has pushed the boundaries for both technology stocks and healthcare stocks and for this reason, we’re taking a close look at companies getting involved in technology advancements within the health and pharmaceutical industries.
Premier Health Group, Inc. (PHGRF)(PHGI.CN) subsidiary, HealthVue is focused on developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence. The company currently has an ecosystem of over 100,000 active patients and have plans to rapidly increase that number both domestically and internationally. The HealthVue team has a strong track record of successfully creating value in healthcare and technology enterprises.
Premier Health Group, Inc. (PHGRF)(PHGI.CN) selected Reliq Health Technologies Inc. as its exclusive technology partner. Reliq will be providing Premier's subsidiary, HealthVue, primary care clinics with a HealthVue-branded telemedicine, remote monitoring & AI solution for its clinical staff and more than 100,000 active patients.
Today, shares of Premier Health Group have reached highs of $0.63USD
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Fitbit Inc. (NYSE: FIT), the wearable device maker, reported a surprise third-quarter adjusted profit on Wednesday. Fitbit unveiled Fitbit Care in September, which is a connected health platform designed to give healthcare providers, businesses and health plans a telehealth resource for managing remote monitoring and health and wellness programs.
"With the introduction of Fitbit Care, we continue to expand our healthcare offerings with a new, bundled subscription offering that can help improve outcomes for some of the most common and costly conditions in healthcare, such as diabetes and hypertension," Adam Pellegrini, general manager of Fitbit Health Solutions, said in a press release. "This unique offering will allow us to better support our 1,600-plus enterprise health customers and the 100-plus health plans that we work with through a comprehensive platform that can help deliver positive, lasting outcomes for their employees and members."
Shares of Fitbit were up sharply on Thursday following its quarterly report.
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Apple Inc. (NASDAQ: AAPL) is traditionally known for its consumer electronics business but investors are also beginning to take note of its involvement within healthcare. In a larger expansion of the mHealth platform, almost 40 health systems and hospitals across the country are now allowing patients to access medical data through the Apple Health app on their iPhones.
Additionally, the new capabilities of Apple's flagship wearable device will be further enhanced by allowing healthcare providers to directly interact with patients using telemedicine and to review and analyze their data in the cloud. Watch Series 4's software-based arrhythmia detection was piloted using Apple Heart Study, a partnership between the Cupertino consumer electronics giant and Stanford Medicine.
The study, which began in November of 2017 and closed to new participants in early August of 2018, combines the heartbeat sensor initially introduced on Series 1, along with data collection and telemedicine software used on the iPhone.
The company reports earnings after the close of the market today.
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*MarketsAndMarkets Report: https://www.marketsandmarkets.com/PressReleases/healthcare-it-market.asp
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