Digital Health

Digital Health Technology Could Lead to Massive $456.9 Billion Opportunity

August 26, 2021 10:02am Comments

Demand for digital health technology is quickly gaining momentum. In fact, by 2026, the market couldbe worth up to $456.9 billion. “Growth in the global market is set to be driven by the transformation of patient data stored in the form of electronic forms saving time and space. The implementation of mobile applications by young adults has a positive effect on the worldwide digital health market,” according to ReportLinker. That’s a big positive for companies such as AI/ML Innovations (CSE:AIML)(OTC: AIMLF), Reliq Health Technologies Inc. (TSXV:RHT)(OTC: RQHTF), WELL Health Technologies Corp. (TSX:WELL)(OTC: WLYYF),Mydecine Innovations Group (CSE:MYCO)(OTC: MYCOF), and KetamineOne Capital Ltd. (NEO:MEDI)(OTC: KONEF).

Plus, according Accenture’s Digital Health Technology Vision 2021 report, “Growing investments in digital twin technologies (e.g., the internet of things, data streaming, and 5G) give rise to a new generation of organizations and intelligence. In a mirrored world, a healthcare organization’s physical world is represented in a digital environment with models of whole factories, supply chains, product life cycles, and more. The technology presents new opportunities for leaders to bring data and intelligence together, ask and answer big questions, and reimagine how they operate, collaborate, and innovate — before making real-world decisions.”

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 report that its subsidiary, Health Gauge, continues to forge key tech industry relationships integral to Health Gauge’s successful product development and business model implementation strategy.

“Health Gauge’s ability to leverage key tech industry relationships is reflected in its success in developing a transformative, wearable health monitoring solution that is poised to make its mark on the digital healthcare world” said Tim Daniels, Chairman of AI/ML Innovations.

Some of Health Gauge’s strategic relationships include the following leading organizations:

BioAlberta (Edmonton, AB): BioAlberta represents all the life sciences companies in Alberta. Health Gauge participates as a member of BioAlberta in local and international trade connector events to generate new partner and market interests.

BioAlberta is a member-driven association that represents and promotes the province’s vibrant and diverse life sciences industry. Through its many partnerships and collaborations, they are dedicated to promoting Alberta’s life science sectors, locally, nationally and internationally.

Edmonton Health City (Edmonton, AB): Edmonton is one of the few cities in North America that has funded and supports a focus on the latest innovations in digital health. Health Gauge is a member and collaborator with EHC in developing new sandbox testing spaces to help test new business channels and community-oriented services.

Health City’s role is to help pave the way for the transformation of our health economy. This will drive improved health outcomes and economic development for the region that can be scaled globally.

Digital Supercluster (Vancouver, BC): Health Gauge is a member of Vancouver’s nationally supported Digital Supercluster program, which provides support to young companies in advancing in the field of digital future solutions.

The Digital Technology Supercluster harnesses the power of data to revitalize the economy and position Canada as a global hub for digital innovation. The Supercluster’s total portfolio is valued at more than $200 million and spans more than 60 projects that are responding to critical issues created by COVID-19, improving the health and safety of Canadians, enabling the digital transformation of key economic sectors and training Canadians for skilled positions in the digital economy.

Alberta Machine Intelligence Institute (amii): Health Gauge has a significant connection with all the leading research institutes and faculties at the University of Alberta. amii is one of the world-leading organizational assets in Edmonton and has helped attract significant investment from world leading AI companies. Health Gauge will continue to collaborate and benefit from participating in the amii programs.

amii has been investing in advanced AI research for decades. Alberta researchers from the University of Alberta and amii researchers were a significant part of the team that built Alpha-Go with Google’s Deep Mind organization. amii partners with companies of all sizes, across industries, to drive innovation strategy and provide practical guidance and advice, corporate training and talent recruitment services.

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, today announced the formation of WELL Ventures, a wholly-owned subsidiary of WELL, whose mandate is to invest in exceptional leaders, entrepreneurs and businesses supporting the global digital health ecosystem, with an emphasis on advancing innovative digital health initiatives in Canada. Hamed Shahbazi, Chairman and CEO of WELL commented, “The formation of WELL Ventures and the investments we’ve made to date reflects our commitment to invest in, nurture and build strategic alliances with innovative digital health companies. We specifically seek to invest in companies that are genuinely committed to leveraging technology to improve health outcomes and that can directly benefit from WELL’s ecosystem, size and scale. Our most recent investment in Bright is a natural fit, addressing the importance of preventative health and wellness for a growing remote workforce. Caring for our own employees and network of practitioners, as well as for the health of all hard-working Canadians, is a value shared by both companies.”

Mydecine Innovations Group announced a new multi-year research collaboration with Johns Hopkins University School of Medicine to study psychedelic therapies. The five-year agreement will see Denver-based Mydecine working with the team at Johns Hopkins, led by Dr Matthew Johnson and the Behavioural Pharmacology Research Unit. In a statement, Mydecine told shareholders that the team has “extensive” experience working on clinical research related to the therapeutic use of psychedelics. “We are excited to expand on the current work we are conducting with Dr Matt Johnson and his team at JHU in regards to smoking cessation to include numerous other projects over the next five years,” Mydecine CEO Josh Bartach said. “The researchers at JHU have proven their incredible depth of knowledge in the field.”

KetamineOne Capital Ltd., a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is pleased to announce that it has established a Medical Advisory Board to help guide the development of Ketamine One’s mental health platform and other aspects of the Company. Chaired by Ketamine One’s Chief Medical Officer, Dr. Mark Kimmins, the MAB’s appointed foundational members also include Dr. Ravi Bains, Dr. Glen Brooks, Dr. Darren Cotterell, Dr. Dennis Filips and Dr. Quang Henderson (the “Medical Advisors”). The Medical Advisors are thought leaders in the fields of psychiatry, psychedelics innovative mental health treatments and veteran affairs, and the Company expects to add other members to the MAB in due course, as appropriate.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. AI/ML Innovations Inc. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of AI/ML Innovations Inc. Please click here for full disclaimer.

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Source: https://www.benzinga.com/pressreleases/21/08/b22676851/digital-health-technology-could-lead-to-massive-456-9-billion-opportunity

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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