CardieX Limited (ASX: CDX) is a healthcare company that designs and develops digital and device-based solutions for large- scale population disorders. On 20 May 2019, CDX along with its group company inHealth announced the signing of Memorandum of Understanding (MoU) with the third largest telemedicine provider Health160 in China.
MoU with China’s third-largest telemedicine provider Health160 means collaboration for a Pilot program to deploy inHealth’s telehealth solutions on Health160’s telemedicine platform. Health160 have over 167 million registered users and more than 4500 hospitals partners across China. It is one of the leading telemedicine platforms in China offering services like maternal and child health, fitness and exercise as well as health education along with access to half a million physicians. It is reported that Health160 will dedicate a section to inHealth’s telehealth solutions on its massively popular smartphone app.
The CardieX ecosystem (Source: Company’s Announcement on China and Product Strategy Update, March 2019)
Revenue generated from engagement on Health160 app will be shared based on the mode of content delivery, level of engagement and nature of service offered or provided by inHealth. The pilot program aims to determine and refine pricing, marketing strategies and healthcare offerings over a fixed period or patient base. China has an ageing population which is plagued by healthcare disorders resulting in escalated demand. Its growing shortage of professionals from healthcare and nutrition background places inHealth’s telehealth solutions to fill the huge gap in the Chinese healthcare market.
China Market Development (Source: Company’s Announcement on China and Product Strategy Update, March 2019)
Health160 has also identified that inHealth’s telehealth solutions will address China’s unmet needs for healthcare for patients with diabetes and hypertension, which are China’s largest population health disorders. CDX is rapidly moving forward with respect to its China growth strategy, such deployment of health management skillset in the Chinese healthcare system are expected to reduce the massive burden placed on hospitals. The collaboration with Health160 also provides CDX with an opportunity to distribute further products and services as the company expand its portfolio of hypertension technologies, digital solutions and wearable devices. This pilot program is the initial phase of potentially significant commercial opportunity along with a long-term strategic partnership in China among three parties.
Aubrey Jenkins, CEO of inHealth, stated that the collaboration with Health160 depicts a testament to the company’s life-changing telehealth solutions, and the company expects to collaborate further to deploy programs across nation-wide China-based platform. She also said that the company’s clinically proved telehealth solutions are getting recognised across the globe and CDX is looking forward to capitalising on such significant opportunities.
Craig Cooper, CEO of CardieX, stated that this is a major step forward in CDX’s China growth strategy and the company is very excited that the products and services of inHealth will be made available to 167 million registered users on Health160 platform. The program will address a significant unmet need of effective health management system. Furthermore, he said the company is dedicated to fulfilling the vision of creating a leading telehealth company servicing global healthcare markets.
On 20 May 2019, the stock of the company settled at A$ 0.038, down 5%. It has gone up by 21.21% over the past 12 months despite a negative performance change of 32.20% recorded in the past three months. The 52-week high and low of the stock stand at A$0.067 and A$0.020, respectively.
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