CardieX Signs LOI With Global Electronics Company to Expand Its Offering to a Broad Customer Base

  • Dec 18, 2018 AEDT
  • Team Kalkine
CardieX Signs LOI With Global Electronics Company to Expand Its Offering to a Broad Customer Base

CardieX Limited (ASX: CDX) develops and manufactures medical devices. The Company produces a device that measures central aortic pressures and certain key heart function parameters non-invasively.

The company has via a recent ASX release stated that it had executed a Letter of Intent (“LOI”) with one of the leading global electronics and medical devices company. As per this arrangement, the parties will work for the development of the telehealth program which would be effective in curing the chronic sleep disorder conditions of the GEMDC‘s consumer as well as providing same programs to practitioners for sale directly to their patients. The parties after that will work for the rolling out of similar programs across the various GEMDC’s global health product and service offerings.

GEMDC is a multibillion USD market cap “household brand” company with a wide range of product and service offerings across the health technology ecosystem. This Jointly developed programs will be branded under the umbrella of GEMDC’s name and are expected to bring significant revenue accretion to inHealth and CardieX in 2019. The parties are now working towards delivering a formal contract into existence and are bound by a Non-Disclosure Agreement regarding the corporate identity of GEMDC. This is done for purposes of maintaining confidentiality and competitive advantage. Identification of the parties and additional information will be provided at the product launch in Q1, 2019.

Global sleep apnea market is pegged to be at around US$6.5 Billion markets by 2023 which would be a rise from the US$4.4 Billion in 2018. Major sleep apnea companies are looking to differentiate their offerings to patients and health professionals via services such as telehealth.

The company’s CEO Mr. Craig Cooper has said that the company through this partnership with the inHealth will be able to deliver the new and innovative healthcare solutions to the markets. With this, the company will also be able to tap into the rapidly growing demand for performance-based, whole-person health. This is an opportunity that will consider the clinically based telehealth programs of inHealth with a leading global household brand such as GEMDC to increase GEMDC’s product sales and significantly extend the lifetime value of their customer, which would be a win-win case for all the participants.

In the last week, the company had also announced that it had inked a development agreement with the Silicon Valley situated Blumio to commence the rapid development of innovative and intelligent sensor technology for blood pressure wearable devices. This technology would be able to integrate with a wide variety of gadgets such as fitness trackers, smartwatches and medical wearable devices.

Meanwhile, the share price of the company has risen by 24 percent in the past six months as on 17 December 2018. CDX’s shares traded at $0.031 with a market capitalization of circa $19.57 Million as on 18 December 2018 (AEST 2:04 PM).


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK