How have these ASX healthcare newcomers fared so far? EMD, LGP, AT1, ICR

How have these ASX healthcare newcomers fared so far? EMD, LGP, AT1, ICR


  • The ASX has witnessed a substantial number of newcomers despite the challenging environment. Five healthcare players have listed on the ASX in 2020 so far.
  • COVID-19 pandemic has created an opportunity for the healthcare sector, with companies focused on delivering critical products and services.
  • Emerald Clinics has developed an RWE data platform to support COVID-19 patients management while Atomo has capitalised on rising cases with its COVID-19 antibody tests.
  • InteliCare is targeting the growing senior care market by providing predictive analytics-based software and hardware products; Little Green Pharma caters to the growing cannabis industry in the country.

The year 2020 has witnessed a few healthcare companies debuting on the Australian Stock Exchange. While the year has been sluggish regarding business activities due to COVID-19-induced lockdowns, healthcare companies have been busy during the period focusing on developing a treatment/vaccine for the pandemic, developing tests that can detect positive cases immediately with minimal human intervention, and manufacturing protective gear for healthcare providers, among others.

GOOD READ: 5 Healthcare Stocks Riding High Amid Buoyed COVID-19-induced Healthcare Opportunities

Most of the newcomers are involved in the emerging healthcare space such as providing unconventional treatments using cannabis-based products or focusing on growth markets such as COVID-19 self-test kits or technologies targeting aged care, a booming market worldwide.  

Let us discuss these newcomers and how have they fared since their debut.  

Emerald Clinics (ASX:EMD)

Emerald Clinics Limited is a healthcare tech services company engaged in capturing RWE (real word evidence) through its patient-centric care model.

The Company, which started trading from 12 February’ 2020, is currently trading at $0.059 (5 June 2020), ~59% below from its first day of trading. While the declining price indicates diminishing investor confidence, the Company has been working diligently towards securing funds to realise its goal. EMD secured $6 million through IPO and then secured an additional $3 million seed raising funding from the redeemable convertible note. Emerald intends to use the proceeds to develop its Real-World Evidence data platform further, roll-out a network of medical clinics throughout Australia and UK and fund clinical trials led by Emerald.

Currently, EMD is operating through four medical centres in Australia in Perth, Sydney, Melbourne, and Northern Rivers NSW, providing unregistered medicines, including cannabinoid treatments. Within the last three months, the Company, along with Zelira Therapeutics Ltd (ASX:ZLD) enrolled patients for opioid reduction trial utilizing at-home pharmacokinetic measurements. The Company has also signed an LOI in the United Kingdom to open a medical clinic as per its growth strategy.

Recently, Emerald got appointed as a Program Manager to develop a clinical data & analytics platform targeted to collate data from COVID-19 patient cases.

With cash in hand, the Company is well positioned to capitalize on the growing need for cannabinoid medicines in the market.

Little Green Pharma (ASX:LGP)

Little Green Pharma is a medicinal cannabis player engaged in the development of locally-cultivated cannabis oil products.

LGP raised $10 million in IPO and started trading from 20 February’ 2020. Since the listing, the Company’s share price has increased by 4.29% to reach $0.365 per share (on 5 June 2020). Though the increase is nominal, the Company has shown resilience during the COVID-19 period and has hit record sales in April with 1,850+ units sold, a 17% increase on March 2020.

The Company also prescribed LGP products to 380 new patients and 28 new prescribers. Other accomplishments of LGP, since its IPO, include receiving manufacturing permit from the office of drug control. LGP also exported cannabis first time to the UK in April 2020.   

In March, the Company completed the commissioning of its expanded cultivation facility in Western Australia. The expanded cultivation facility will ramp up production by ten times to reach 110,000 bottles of medicinal cannabis oil per annum. Little Green Pharma claims to be the first Australian based medicinal cannabis company producing locally-grown medicines in Australia and export market.

The Company is currently debt-free and has a strong cash position to boost its business prospects.

ALSO READ: Cannabis Stocks Holding Ground amid COVID-19 Scenario

Atomo Diagnostics (ASX:AT1)

Atomo Diagnostics is engaged in developing innovative designs for medical devices. Headquartered in Sydney, Australia, the Company is also an original equipment manufacturer.

AT1 started trading from 16 April 2020 and is currently trading at $0.330 (5 June 2020), 15.38% below from its first day of trading. The Company raised $30 million through IPO and has achieved few accomplishments since it has started trading.

Atomo’s product portfolio is targeted at indications that have been plaguing the world with serious ramifications, both through human casualty and economic damage. On 4 June 2020, The Company expanded its COVID-19 partnership with NG Biotech allowing Atomo to market and distribute the COVID-19 antibody test in Australia, New Zealand, and few countries in South East Asia.

Earlier, in May 2020, Atomo had received an additional order from the French Company to deliver 422k COVID-19 blood test devices. The companies are expanding to territories including, the US to market the COVID-19 antibody test. The Company also has an HIV Self-Test kit that is approved in regions, including Australia, the EU, and the UK and is pre-approved by the World Health Organization.

With a strong cash position and increasing sales of products, Atomo Diagnostics is well-positioned for a successful business run.

Also Read: Atomo Diagnostics- The Shining IPO on ASX Amid COVID 19?

InteliCare Holdings Limited (ASX:ICR)

InteliCare Holdings Limited recently raised $5.5 million through its IPO and started trading from 25 May 2020.

ICR provides predictive analytics based hardware and software system that uses smart sensors and artificial intelligence (AI) to monitor aged living independently or at senior care. The Company has B2B and B2C solutions targeting aged care and health industries. ICR has the WA government as its client who recently placed a follow-on order newly integrated radar technology in the existing product, improvising for better monitoring during lockdowns.    

With aged care and health specifically, in focus amidst the coronavirus crisis, ICR has garnered attention since its listing. In the current environment, when senior citizens are a significant risk of being affected by COVID-19, ICR’s technology offers its clients a level of relaxation that their loved ones will be taken care of.

From $0.315 on its debut, the share price of InteliCare jumped to as high as $0.480 the next day. On 5 June 2020, the stock last traded at $0.395, 25.40% higher than the closing price on the day of listing.

With an increasing focus on senior care globally, the Company is well set for future business growth.

NOTE: $ denotes Australian Dollar unless stated otherwise.


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