ICR, PCK, CDX: How are these ASX telehealth stocks faring?

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ICR, PCK, CDX: How are these ASX telehealth stocks faring?

Telehealth uses digital and communication technologies
Image source: © Elenabsl | Megapixl.com

Highlights

  • Telehealth refers to the usage of digital information and communication technologies to access healthcare remotely
  • In the March 2022 quarter, InteliCare witnessed a 300% increment in sales compared to the pcp
  • PainChek Limited’s unaudited year-to-date revenue from customers grew by 345% compared to the prior year

The global healthcare industry is in the process of undergoing a step-change, thanks to the COVID-19 pandemic. One of the major trends that gained traction in the wake of the pandemic is telehealth.

Also known as telemedicine, telehealth refers to the usage of digital information and communication technologies such as computers, smartphones, and wearables to access healthcare services remotely.

The major goals of telehealth are to make healthcare accessible to people living in remote areas, enhance communication between healthcare professionals and patients, and assist self-managed health care.

On this note, let us have a look at three ASX telehealth stocks.

Do read: PCK, LBT, OPL – Three AI stocks from ASX healthcare

InteliCare Holdings Limited (ASX: ICR)

InteliCare is an Australian company that provides technology solutions to the aged care and healthcare sector. It offers predictive analytics hardware and software systems to the industry. The company’s solutions are built upon its proprietary internet of things (IoT) platform utilising smart sensors and artificial intelligence (AI). The company’s main aim is to let healthcare providers deliver superior service to people while staying in their own homes.

Major highlights of the company for the March 2022 quarter are as follows:

PainChek Limited (ASX: PCK)

PainChek claims to have developed the world’s first pain assessment technology and monitoring application, “PainChek®” using a smartphone. The smartphone-based medical device uses artificial intelligence to evaluate and score pain levels in real-time and update medical records in the cloud. PainChek® records a short video of the person’s face and analyses the images that indicate pain.

In the quarter ended 31 March 2022, PCK witnessed a 66% increment in global revenue compared to the previous quarter. Similarly, its unaudited year-to-date revenue from customers grew by 345% compared to the prior year. Further, new aged care clients signed up in Australia, New Zealand, and the UK, bolstering the market-wide recognition of PainCheck’s global digital delivery technology.

CardieX Limited (ASX:CDX)

A global health technology company, CardieX specialises in medical, home health devices and wearables. The company’s ACTOR subsidiary deals in medical devices and digital solutions for hypertension, cardiovascular disease, and other vascular health disorders. Similarly, its CONNEQT subsidiary develops and markets consumer home health devices and wearables.

Recently, the company’s CONNEQT Companion App got a non-device MDDS classification from the Food and Drug Administration (FDA). The MDDS classification not only provides CardieX with flexibility for launching the app but also clears the road for marketing its upcoming new devices as it cuts down the requisite for a whole different submission to the FDA for the consumer companion app.

The major highlight of the company for the 2022 March quarter was the launch of TicWatch GTH Pro, the world’s first heart health monitoring smartwatch. After a two-year commercial collaboration, Mobvoi released the Smartwatch containing CDX’s ACTOR Technology.

Also read: RMD, ONE and CDX: Three diversified telehealth stocks from ASX

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