GMV The Future, page-2729

G Medical Innovations (ASX:GMV) brings remote patient monitoring to Australia and NZ

Health Care

ASX:GMV


Ashleigh Melanko Markets Reporter [email protected] 22 July 2020 14:00


CEO, Dr Yacov Geva
Source: Finance News Network

• G Medical Innovations (GMV) has expanded its agreement with HSC Technology to offer its remote patient monitoring services in Australia and New Zealand
• This expansion allows hospitals and healthcare providers to remotely monitor their patients 24 hours a day
• Patients who are enrolled in the service will be charged between $19 and $35 per month, which will be shared between G Medical, HSC Technology, and third-party providers
• G Medical is up 6.60 per cent on the market and shares are currently trading for 5.7 cents each

G Medical Innovations (GMV) has expanded its agreement with HSC Technology to offer its remote patient monitoring services in Australia and New Zealand.

This extension follows a non-exclusive agreement secured in April where G Medical integrated and distributed its Prizma device via HSC's uVue telehealth platform to monitor the vital signs of elderly patients in a nursing home.

It also allows G Medical to introduce its 24-hour remote patient monitoring service to hospitals and other healthcare providers.

"The launch of a 24-hour remote patient monitoring service in Australia with a trusted and respected partner like HSC presents us with yet another avenue to grow our patient services infrastructure and recurring revenues," Director Dr Brendan de Kauwe said.

"HSC Technology Group will unlock an established network of healthcare providers and resellers, as well as a leading technology platform that G Medical can leverage quickly to drive uptake in Australia and New Zealand," he added.

Patients enrolled in the service will be charged between $19 and $35 per month, which will be shared between G Medical, HSC Technology, and third-party providers.

Additionally, this will allow G Medical to strengthen its footprint in Australia and New Zealand and unlock additional markets for its Prizma and Patch devices.

"Australia and New Zealand are important markets for G Medical and we believe we can establish a solid business here with the right partners," CEO and Managing Director Dr Yacov Geva commented.