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New York, December 13, 2021/PRNewswire/ - Independent investment research company Argus Research has released a stock research report on G Medical Innovations Holdings Ltd. (NASDAQ: GMVD)
Click here to view the complete Argus stock research report.
Company highlights: Excerpts (conveyed by Argus analyst Steve Silver) include:
GMVD: Promoting innovation in mobile health and telemedicine:
Excerpts from investment papers (click here to view the full Argus stock research report):
G Medical Innovations Holdings Inc., headquartered in Israel, was established in 2014 and is dedicated to the development and manufacturing of mobile health products. It also provides telemedicine services to help patients manage medical conditions, especially in areas such as cardiovascular disease, lung disease and diabetes. The company's current products include Prizma, a clinical-grade device that allows smartphones to be used for medical monitoring, and the Extended Holter Patch System, a biosensor that can continuously capture electrocardiogram (ECG) data for up to 14 days. The company is also developing a wireless vital signs monitoring system (VSMS), which will provide real-time diagnostic and monitoring services.
In our view, G Medical is capable of participating in the fast-growing "mHealth" or mobile health industry. Grand View Research predicts that by the end of 2021, the mobile medical market will reach 53.6 billion U.S. dollars, and by 2028 it will reach 166 billion U.S. dollars (compound annual growth rate of 17.6%). We believe that the growth of mobile healthcare will be driven by more use of wearable devices and an increase in chronic diseases.
We have noticed that telemedicine provides a cost-effective alternative to traditional care for many medical conditions. It also provides basic health care services for patients when they cannot go to the doctor’s office or hospital-this often happened during last year’s pandemic lockdown. According to data from McKinsey, telemedicine accounted for 46% of medical consultations in April 2020, up from 11% in 2019. Although we believe that this percentage may decline as the pandemic subsides, we believe that the pandemic has made telemedicine acceptable to a large number of patients. Consumers, many people will continue to use telemedicine services in the future.
G Medical faces competition in the wearable medical device market, from AliveCor (its products only capture ECG data), Qardio (focusing on blood pressure tracking) and Tytocare (focusing on home health check-ups) and Apple watches. However, G Medical believes that Prizma provides more detailed data than most competing devices, especially in terms of cardiovascular and lung health, and it makes it easier for consumers to understand these data.
Prizma uses a wireless Bluetooth connection to connect to any smartphone. It enables users to obtain an electrocardiogram and measure various vital signs, including oxygen saturation, temperature, heart rate, and pressure level. Users can also manually enter blood pressure, weight, and blood glucose measurements and track them on Prizma's app and cloud portal. In addition, users can generate reports based on the data and share them with medical professionals or family members, which we believe can have a beneficial impact on patient compliance and results. Prizma will also integrate with the company's wireless vital signs monitoring system to provide enhanced real-time monitoring.
The company's product portfolio also includes the Extended Holter Patch System, a multi-channel biosensor that can continuously capture ECG data for up to 14 days. G Medical believes that multi-channel ECG can provide higher predictive values through more actionable data, thereby helping doctors make more accurate diagnoses. In addition, the system allows patients to capture symptom events by clicking a button on the recorder and recording their symptoms in the patient's diary. This associates the ECG with specific patient activities and provides doctors with important contextual data. After the monitoring session, the patient returns the device to G Medical, and then uploads the data to the secure cloud for analysis. Then, a certified cardiac technician will generate a concise clinical report based on the ECG. The report is verified through a quality assurance process and made available to the patient’s doctor on the company’s secure portal. In view of the rise of telemedicine and e-health and the advantages of this system in helping doctors diagnose, we believe that the extended Holter patch system may become the company's main source of income.
Prizma has obtained European CE mark approval, FDA 510 K approval and emergency over-the-counter (OTC) authorization in the United States. G Medical expects that OTC approval will remain valid throughout the COVID-19 pandemic. Holter Patch has also received FDA emergency use authorization and is ready for commercialization. In addition, Prizma has been approved by Australian, Taiwanese and Italian regulatory agencies, and Holter Patch has been approved in Australia. G Medical is also preparing to submit a Prizma application to the National Medical Products Administration (NMPA) of China.
In addition to commercializing Prizma and Extended Holter Patch System in the United States, China and other markets, G Medical is completing the development of its wireless vital signs monitoring system, which aims to provide continuous real-time monitoring of a wide range. vital signs. The management hopes that the system will generate recurring revenue streams in the form of monthly remote monitoring fees paid by hospitals, insurance companies, chronic disease care management companies, and individual patients through direct-to-consumer channels. It also hopes to generate recurring income from the monthly fees used by Prizma.
The mobile medical industry is characterized by strong R&D capabilities, rapid innovation, and more independent software development. The competition in the next ten years may be very fierce. However, we believe that G Medical has the potential to open up a space in the field of health telemetry and monitoring. The company has 3 technical patents and 11 patent applications. It currently produces products in Israel, but it is expected to find lower-cost manufacturing options in China or other locations, which we believe will help increase gross profit margins over time.
About G Medical Innovations Holdings Ltd. (NASDAQ: GMVD) gmedinnovations.com
G Medical Innovations Holdings Inc., headquartered in Israel, was established in 2014 and is committed to developing and manufacturing mobile health products and providing telemedicine services. The company's products include Prizma, a clinical-grade device that enables smartphones to be used for medical monitoring, and Extended Holter Patch, a biosensor that captures ECG data. G Medical is also developing wireless vital signs monitoring services. The company has 3 technical patents and 11 patent applications.
For more information, please contact:
G-Medical Innovations Ltd Adv. Oded Shahar Senior Vice President Mergers and Acquisitions [Email Protection]
Argus Research (www.argusresearch.com), headquartered in New York City, is a leading independent equity research company (founded in 1934). It provides information on more than 1,600 companies in all 11 sectors of the Standard & Poor’s 500 Index, as well as macroeconomic fundamentals. Quantitative research and stock market forecasts, special studies, model portfolios and pre-market research. In addition, Argus has recently committed to providing sponsored research solutions for small and medium-sized companies seeking coverage. Argus’ stock research and earnings forecasts are available on major research/earnings forecast aggregation platforms, including Bloomberg, Thomson Reuters, Factset and S&P Global.
For more information, please contact:
Darrell Stone 646-747-5438 [Email protection]
As part of the sponsored research agreement between Argus and the company, Argus Research has collected fixed fees from the companies discussed in this report. Any remuneration from Argus Research is not directly or indirectly related to the content of this evaluation or other opinions expressed in this report. Please refer to the full Argus report and disclaimer for complete disclosure.
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