- COVID-19 pandemic has led to an acceleration of digital transformation in the healthcare sector and boosted innovation to provide care to the patients.
- Healthcare Software provider Global Health Limited won a contract with the WA MHC for MasterCare EMR implementation.
- ResApp Health recently signed a non-exclusive licensing agreement with Workplace Medicine Australia Ltd.
- HeraMED entered the US healthcare market with eCare21 partnership to integrate its technology into the eCare21 platform.
Digital transformation in healthcare highlights the importance of technology for the sector. The digital technologies including telemedicine, AI-enabled medical devices, and electronic medical records (EMR) are just a few concrete examples of digital transformations that are reshaping the interaction between a patient and the doctor or health specialist.
While taking advantage of technological advancements was always on the cards, the ongoing COVID-19 pandemic has fast-tracked the digital transformation in the healthcare industry and boosted innovation to provide care to the patients. The best examples of digital transformation in healthcare include telemedicine, touchless healthcare, or contactless care, among others.
With this backdrop, we will discuss three ASX-listed digital healthcare companies - Global Health, ResApp, and HeraMED.
Global Health Limited won a contract with WA’s Mental Health Commission
ASX-listed healthcare software company Global Health Limited (ASX:GLH) provides its digital health solutions to the Australasian Healthcare Industry to deliver excellent patient care. These include EMR, clinical records, practice management systems, patient administration systems, patient engagement platforms, secure message exchange and consumer health records.
On 16 November 2020, Global Health announced that the Company was awarded a contract for up to ten years with the Government of WA’s Mental Health Commission (WA MHC) for MasterCare EMR implementation.
The MasterCare platform of Global Health will enable the WA MHC to meet the key State and Federal requirements for Alcohol and Other Drug Treatment Services.
Moreover, in recent years MasterCare has emerged as the market-leading EMR for Australian Community Health organisations. The joining of WA MHC for MasterCare being the latest of numerous key accounts to select MasterCare EMR in 2020.
Future of the MasterCare Platform
The contract duration also shows faith in the roadmap and vision of Global Health to transition from the current MasterCare EMR user-base to its next-generation SaaS solution, MasterCare+, in the years to come.
The WA Mental Health Commission would by apprised of the progress in development of MasterCare+.
Additionally, WA MHC will have the option to transition to the new platform at their discretion throughout the contract period.
Stock Information: On 26 November 2020, the share price of GLH closed at A$0.450, down by 2.174%.
ResApp Health Signed a non-exclusive agreement with Workplace Medicine Australia Ltd.
A leading digital health player, ResApp Health Limited (ASX:RAP), is developing smartphone-based applications to diagnose and manage respiratory diseases. The ML-algorithms of ResApp utilises sound for diagnosis and measurement of the severity of respiratory conditions with no necessity for any additional hardware.
On 19 November 2020, ResApp Health disclosed that the Company had signed a non-exclusive agreement with Workplace Medicine Australia Ltd (WMA).
This two-year licensing software agreement is for integrating ResApp’s ResAppDx, in Workplace Medicine’s upcoming application- Medetective.
Medetective is fully integrated and holistic workplace health and wellbeing management application.
ResAppDx will be integrated into Medetective and utilised as a remote respiratory diagnostic aid along with telehealth consultation. This will reduce the need for employees to book in and travel to see a clinician for diagnosis.
Moreover, ResAppDx will be made available under the Medetective gold and platinum pricing tiers, which include on-demand telehealth medical consultations.
ResAppDx uses machine-learning (ML) technology to identify the cough sounds for diagnosis of any respiratory indication by using a microphone built-in in the smartphone. ResAppDx is TGA approved in Australia and CE Marked in Europe.
ResAppDx will now be integrated into the Medetective app. The Medetective application of WMA is set to launch in February 2021.
With this agreement, ResApp will have access to new sectors with large workforces, including construction, mining, financial services, among others.
Dr Tony Keating CEO and Managing Director ResApp commented-
Stock Information: On 26 November 2020, the share price of RAP closed at A$0.090, down by 1.099%. The Company’s market capitalisation stood at A$68.98 million.
HeraMED Enters into US healthcare market with eCare21 partnership
ASX-listed leading provider of in-home maternity care HeraMED Limited (ASX:HMD) provides maternity care by revolutionising the prenatal and postpartum experience with its hybrid platform.
On 9 November 2020, HeraMED disclosed that the Company had executed its partnership agreement with eCare21 Inc to integrate its technology into the eCare21 platform.
The partnership is anticipated to increase awareness and take-up of HeraMED’s platform HeraCARE and HeraBEAT in the US.
The Company notified that integration of HeraCARE into the eCare21 platform is already significantly advanced, basic functionality has been proven with final feature optimisation projected to be completed by December 2020 end.
The immediate benefit of this agreement allows for the HeraMED solution to be marketed to eCare21’s broad customer base of healthcare providers.
Additionally, this partnership will enable both companies to reach out to healthcare providers, medical organisations, and doctors’ clinics for increasing the awareness of HeraCARE and HeraBEAT in the US.
The partnership complements the current direct B2B strategy of driving adoption via clinical validation and endorsement by major opinion leaders.
CEO and Cofounder of HeraMED Mr David Groberman stated-
On 16 November 2020, HeraMED provides some additional information concerning the partnership with eCare21-
- Under the agreement, currently, there is no material consideration payable.
- No minimum quantities to be supplied.
- After the clients are secured, in the event the consideration is material, HeraMED will disclose the details to the market.
Stock Information: On 26 November 2020, the share price of HMD was last noted at A$0.105, down by 4.546%. The market capitalisation of the Company stood at A$16.50 million.