Tuesday, 1 February 2011
PENNY favourite Stirling Products has held its position after Microsoft Australia profiled its TeleMedCare e-health system in a whitepaper on technologies to improve patient care.
The small stock held its 0.7c position yesterday after closing at 0.8c for most of last week.
During January the company filed for US Food and Drug Administration approval for the remote monitoring device.
The company is forecasting an FDA approval by June this year.
The UK-based Bruchester Healthcare Group recently reported successful results from a TeleMedCare trial in a 24-hour care facility for aging patients with neurological conditions.
Microsoft?s whitepaper Caring for People with Chronic Conditions showcased how technology could support an evidence-based care model and improve the standard of care to patients with chronic conditions.
Authored by Microsoft Australia healthcare solution architect James Kavanagh, the paper described the TeleMedCare Health Monitor as an example of Australia?s leading innovations for home telecare with demonstrated efficacy in chronic condition management.
The multinational also featured the monitor as a partner technology that could transform its electronic health interactive chronic care model.
The TeleMedCare system was an asset Stirling picked up in the September quarter by taking a 65% controlling stake in TeleMedCare last year.
Stirling managing director Peter Boonen said Microsoft?s decision to feature TeleMedCare in its whitepaper and name it as a key e-health partner in its interactive chronic care model was particularly relevant to Stirling?s positioning of the TeleMedCare business for independent financing and 2011 launch in the US.
The monitoring device has been on the market for four years and is a Class 2a device, registered in Australia and Europe.
The system is approved for use in New Zealand and an approval for Canada is currently in process.
Stirling predicted the US monitoring market would grow to $7.7 billion in the next few years.
The company is positioning the TeleMedCare clinical monitoring unit to primarily target private elderly-care chains in the US this year and in 2012.
As part of the TeleMedCare buy-in, Stirling committed to tipping in $3 million for TeleMedCare financing over three years.
To view the Microsoft whitepaper pdf, visit download.microsoft.com.
ASX moves
STI shares were at 0.7c by early afternoon, on the exchange of 30.4 million shares.
Yesterday shares closed at 0.7c on a 1.9 million share volume.
link: http://www.biotechnologynews.net/storyview.asp?storyid=2381314
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