Impressive! Elsight Received First Halo Order of US$300k for Portable Telemedicine Technology, Stock Up 9.7% on ASX

Summary

• Elsight is playing at the front foot with its breakthrough connectivity platform Halo. The Company has achieved another major milestone after receiving initial order for Halo worth US$0.3 million from its strategic partner (since 2017), Alrena Technologies, a Paris-based innovator developing a platform for emergency medicine to rural areas or remote places.
• Elsight is capitalising on the burgeoning need of telehealth with its flagship connectivity platform Halo, which is noted to be unified into a backpack (ultra-portable and light) version of Alrena’s “Smartmedicase” branded as the “Smartmedibag”
• During the crucial time where existing health delivery has been challenged by COVID-19, this “Smartmedibag” solution would further equip independent nurses across France to endow health care remotely; dramatically reduce both response time as well as the requirement of patients to travel to the hospitals and save lives in real-time via telemedicine.

While the world is in disarray, had it not been for advanced technology-based solutions and services, we would have been looking at an unmanageable crisis.

In the wake of the COVID-19 pandemic, Elsight Limited (ASX: ELS), a leading technology solutions provider reinventing real-time data connectivity, has beaten the blues and has emerged as a silver lining in the dark clouds with its breakthrough connectivity platform – Halo.

Did you read: Casting an eye over the breakthrough Connectivity Platform of Elsight – Halo

On 17 August 2020, Elsight announced the receiving of its first order for the flagship Connectivity Platform – Halo from France based Alrena Technologies to be utilized for Alrena’s portable telemedicine technology.

Receipt of Alrena’s order – Elsight capitalising on the burgeoning need of telehealth

Elsight announced receipt of an initial purchase order of US$300 thousand for its Halo units that will be incorporated in an ultra-light and ultra-portable version of Alrena’s “Smartmedicase” branded as the “Smartmedibag”. The announcement is the latest development in an ongoing strategic partnership between Alrena and Elsight that started in 2017.

This order is expected to be supplied between September and December 2020, with payment in three tranches along the same timeline.

During the pandemic where the prevailing health delivery system has been badly challenged, this Smartmedibag solution is expected to allow independent nurses to supply lifesaving treatment through telemedicine in remote areas.

Did you read; Elsight Reaches Major Milestone with significant Halo order received from Kinetx Prime, Stock Rallies Above 63%

Covid-19 is building a Digital Bridge to the rural health

Initially, the turbulent waves of the pandemic stroked the leading metropolitan cities such as NYC and took a toll on the city with numerous deaths. Notably, the second wave of the COVID-19 pandemic is hitting across rural areas of France, America, Australia and many more, which are marked by minimum marginal cellular coverage, and long distances to the accessible hospitals.

Rural population is a large addressable market with 13 million people in France, 35 million in Russia, 60 million in the USA, 7 million in Australia, 25 million in Brazil and 600 million in China.

Additionally, there has been a severe deficit of medical doctors for years in remote areas of France, outside the five largest metropolitans.

Furthermore, unlike most of the other countries, France does not have Paramedics, and nurses are not adequately trained or licensed to provide treatment to patients in the emergency or trauma situations without the remote supervision of a medical doctor.

Elsight has primarily been contracted by Alrena to acknowledge these ongoing health delivery challenges in rural health, entitling independent nurses in remote areas of France to dispense lifesaving treatment via telemedicine.

Elsight’s Halo platform and Alrena to deliver telehealth services to remote French communities

Alrena, an innovator developing a platform for emergency medicine to underserved and remote locations, has created the “Smartmedibag”, a new ultra-portable and light version of its “Smartmedicase” solution custom-made to the necessity of EMS, independent nurses, and ambulances with an aim to be deployed initially in France.

With dedicated funding by the French government, Nurses can further lease this Halo equipped “Smartmedibag” to monitor both COVID-19 and non-COVID-19 patients remotely; decrease the volume of patients admitted to hospitals and save numerous lives in real-time.

It is worth noting that both Alrena’s and the French health ministry’s goal is that the ~6,000 independent nurses in France would be supplied with this “Smartmedibag” across the nation.

Furthermore, Alrena placed an order for the Halo unit to meet this soared demand and to ramp up their new production and manufacturing line.

Notably, Halo has equipped Alrena to enhance connectivity and flexibility of the “Smartmedibag” by reducing weight, 1.1kg from the total weight of the bag and enlarge the battery life, while striking out the need for a fan for special cooling primarily due to Halo’s exceptionally low heat signature.

Do read: Scan through Elsight’s Remarkable June Quarter Performance

The partnership with Elsight has manifested to be the enabler of Alena’s future innovations.

Stock performance

On 17 August 2020, ELS closed the day’s trade at AU$0.680, up 9.677% from the previous close. The market capitalisation of ELS was noted at AU$66.35 million, with ~107.02 million shares outstanding.