Healthcare consolidation goes beyond usual players

Modernhealthcare | June 11, 2019

Consolidation in the health system and health insurance industries has been a focus for years. But a new report sheds light on how the bigger is better mantra has taken hold in companies that make syringes, X-ray machines or other healthcare productsThe report, prepared by the Open Markets Institute using data from IBISWorld, shows a small handful of companies dominate their respective markets in certain healthcare sectors that tend to get less of a spotlight than their payer and provider counterparts. The largest three pharmacy and drugstore companies represent 67% of market share and the largest two ambulance manufacturers represent 83% of market share. Just two dialysis providers dominate 76% of market share.

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Faisal Belhoul joins forces with iGan Partners to launch US$250 million iGan Arabia fund to drive MedTech innovation in MENA

iGan Partners | February 08, 2022

iGan Partners,Canada'sleading healthcare technology investors, has joined forces with Faisal Belhoul, aDubai-based investments professional and entrepreneur, to launch aUS$250MiGan Arabia regional fundto drive MedTech innovation across theMiddle EastandNorth Africaregion. iGan Arabia will focus on investing in AI/Cloud-enhanced medical devices and digital health technologies that improve patient outcomes and reduce healthcare cost. The fund targetsUS$250Mthrough limited partnerships with an additionalUS$250Min co-investments. The first four investments have been identified to drive breakthrough MedTech in the region. These areExact Imaging, the world's first micro-ultrasound for unmatched resolution of prostate cancer;Okadoc, the region's most advanced digital patient management solution;eSight Corporation, wearable electronic vision devices for legally blind people challenged by eye diseases; andMolecuLight, the world's first handheld imaging device enabling clinicians to visualize bacteria in real-time for advanced wound care. All these already have regulatory approval and are scaling world-wide. H.E.Jean-Philippe Linteau, Consul General ofCanadainDubaiand the Northern Emirates, commented: "I am pleased to see Canadian and UAE health innovation leaders partner together to create iGan Arabia. The UAE has proven to be an early adopter of innovation. This new partnership will help our healthcare technology companies grow and succeed globally." "We see the GCC as a transformative healthcare region. We have identified and uncovered several innovative opportunities across Digital Health, Connected Medical Devices, Healthcare IT and Artificial Intelligence. These are sectors that iGan brings a lot of expertise and we understand what it takes for companies to scale and succeed. Through this first of its kind Fund, we will invest locally and will showcase the GCC's healthcare innovations to the world." Sam Ifergan, Founder & CEO, iGan Partners Faisal Belhoul, Co-Chairman, iGan Arabia,added: "Through iGan Arabia we aim to invest in start-ups and other healthcare companies, especially in the GCC, and help them evolve as the best-in-class. We will support not only their operations in the region but also help scale up their operations to key markets inNorth America,Europe, and LATAM. iGan Arabia will help establish GCC as a world-class MedTech hub that will create thousands of new jobs and add value to the economy."

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AI

Aidoc partners with Novant Health, providing imaging AI to expedite treatment for patients in the emergency department

Aidoc | January 25, 2022

Aidoc,the leading provider of enterprise-grade AI solutions for medical imaging, announces a partnership with Novant Health, a health network of over 1,800 physicians with 15 medical centers across three states. By incorporating Aidoc's AI platform, which includes seven FDA-cleared solutions for triage and notification of patients with acute medical conditions, Novant Health is taking proactive steps to improve patient outcomes and reduce emergency department (ED) length of stay amid resource constraints inflicted by the Omicron variant. With a dedication to digital transformation for improving workflow efficiencies and patient outcomes, Novant Health is one of the first health networks inNorth Carolinato adopt Aidoc's AI platform. Novant Health has integrated multiple technologies and has been recognized by the College of Healthcare Information Management Executives'(CHIME) "Digital Health Most Wired" program five years in a row for effectively applying "core and advanced technologies into their clinical and business programs to improve health and care in their communities." "When diagnosing and treating critical pathologies like pulmonary emboli and hemorrhagic strokes, every second counts," said Dr. Eric Eskioglu, Executive Vice President Chief Medical and Scientific Officer, Novant Health. "We are thrilled to partner with Aidoc to bring yet another leading-edge AI-technology to Novant Health. For years, we've been committed to harnessing innovative technologies to improve patient safety and outcomes through the Novant Health Institute of Innovation and Artificial Intelligence. With Aidoc's technology, our physicians will be able to more quickly identify and prioritize these patients and provide rapid life-saving treatments." From Aidoc's AI platform, Novant Health will be utilizing the intracranial hemorrhage (brain bleeds), pulmonary embolism (lung blood clots), incidental pulmonary embolism, c-spine fracture, and abdominal free air AI solutions. In one example, a studyconducted by the Yale New-Haven Health System found that Aidoc's intracranial hemorrhage AI solution was able to reduce ED length of stay by approximately one hour. "With rapidly rising numbers of people infected with the highly contagious Omicron variant, we can see the hard impact on hospital emergency room capacities and resources across the U.S. We're proud to partner with a leading, innovative hospital network like Novant Health, which serves a large portion of the population in the three states its facilities are located in. Together, through our AI solutions and their state-of-the-art facilities, we will enable radiologists and related hospital providers to expedite care for tens of thousands of patients, contributing toward a mitigation of the current emergency room situations and setting an example for integrating innovation during turbulent and non-turbulent periods." Elad Walach, CEO and co-founder of Aidoc About Aidoc Aidoc delivers the most comprehensive and widely-used portfolio of AI solutions, supporting providers by flagging patients with suspected acute conditions in real-time, expediting patient treatment and improving quality of care. Aidoc's healthcare AI platform is currently used by thousands of physicians in hospitals and radiology groups worldwide and across multiple care coordination service lines, having analyzed over 10.3 million scans in the past year. About Novant Health Novant Health is an integrated network of physician clinics, outpatient facilities and hospitals that delivers a seamless and convenient healthcare experience to communities inNorth Carolina,South Carolina, andGeorgia. The Novant Health network consists of more than 1,800 physicians and over 35,000 employees who provide care at nearly 800 locations, including 15 hospitals and hundreds of outpatient facilities and physician clinics. In 2021, Novant Health was the highest-ranking healthcare system inNorth Carolinato be included onForbes'Best Employers for Diversity list. Diversity MBA Magazineranked Novant Health first in the nation on its 2021 list of "Best Places for Women & Diverse Managers to Work." In 2020, Novant Health provided more than$1.02 billionin community benefit, including financial assistance and services.

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DIGITAL HEALTHCARE

Nemaura Medical Launches Metabolic Health Program for Employers and Insurers

Nemaura Medical, Inc | January 14, 2022

Nemaura Medical, Inc.(“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, announces the launch for employers and insurers of Miboko, a new metabolic health program using a non-invasive glucose sensor along with an AI mobile application. The Company’s goal is to achieve broad adoption of Miboko as a form of preventative medicine for a wide user base through these commercial channels and is aligned with the general trend in consumer digital healthcare. “Introducing Miboko to the population at-large through employers and insurers will allow Nemaura to reach a much wider audience in much faster fashion than solely relying on a direct-to-consumer campaign, and in the Western world, these institutions are the most reliable gateway toward wider adoption of preventative health maintenance practices. Being aware of one’s metabolic health and how the body uniquely regulates sugar is key to one’s health. Patients, of course, want to be as informed as possible about their health, and employers and insurers are also aligned with patients in that regard, given the massive productivity losses and healthcare costs at stake on a larger scale across their employee and insured base, respectively. Miboko can help address this substantial market opportunity through our non-invasive, revolutionary approach to healthcare.” Nemaura CEO Dr. Faz Chowdhury Nemaura has also submitted a Premarket Approval (PMA) to the United States Food and Drug Administration (FDA) for approval of its glucose monitoring device as a Class 3 medical device. The Company’s PMA was the subject an on-site FDA bioresearch monitoring (BIMO) audit that generated a single Form 483 observation, for which the Company has committed to a full response this quarter. A follow-up BIMO audit of the clinical investigator site has also been scheduled for the current financial quarter. Miboko has been in development for nearly two years and addresses a significant mass market opportunity that the Company believes could benefit roughly a third to half of the population by using a non-invasive glucose sensor to measure and monitor a user’s metabolic health score, which is based on glucose tolerance or insulin resistance. Those with prediabetes or obesity concerns -- or even those looking to maintain better health through more careful glucose control -- may benefit from such a metabolic health program. How one’s body metabolizes sugar is the main influencer of one’s appetite, weight, sleep quality, and energy and mood levels and even plays a critical factor in chronic diseases (beyond just diabetes), such as heart disease and dementia. At the heart of the Miboko offering is Nemaura’s non-invasive glucose sensor that is designed to measure insulin resistance, reported as a metabolic health score, and priced to be highly affordable with the program running for an initial two-year period. The program also uses a mobile app to provide users with personalized information by tracking their metabolism. A user can find out how well their body responds to sugar through their metabolic health score — and how what they eat and what they do every day uniquely affects their metabolic health. Along with the capability to follow metabolic health progress on the app, Miboko users receive weekly and monthly reports that show and explain their body’s unique metabolic health score and a breakdown of how each of their habits are impacting their overall health and wellbeing. Suggestions for small, manageable changes to daily routines, such as eating more or less of a certain kind of food or exercising at a different time of day to coincide with peak energy levels, provide Miboko users with personalized, usable data. About Nemaura Medical, Inc. Nemaura Medical Inc. is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT® and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA. proBEAT™ combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program that is currently undergoing pilot studies. Additionally, Nemaura has launched Miboko, a new metabolic health and well-being program using a non-invasive glucose sensor along with an AI mobile application that helps a user understand how certain foods and lifestyle habits can impact one’s overall metabolic health and well-being. Nemaura believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being. The Company sits at the intersection of the global Type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023.

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DIGITAL HEALTHCARE

UniDoc Partners with AMD Global Telemedicine

UniDoc | February 04, 2022

UniDoc Health Corp., an innovator in the telehealth sector, is pleased to advise on a commercial master distribution agreement (the “Agreement”) with Massachusetts-based AMD Global Telemedicine Inc. (“AMD Global”) for the provision of specialized products and services critical to ongoing commercialization efforts. As a pioneer of virtual care technology, and an industry leader in telehealth solutions, AMD Global has been providing quality healthcare solutions for over 30 years with product sales and registered deployments in 100+ countries. The agreement adds AMD Global as a UniDoc key supplier of telehealth solutions including virtual care software platforms, integrated medical devices, and telemedicine bundled kits. The products and services will be purposed and integrated into the UniDoc Virtual Care Solutions Model (“VCSM”), which will offer a proprietary, customizable, and comprehensive telehealth solution based on a variety of integrated physical enclosures, kiosks, and related configurable packaging designed to deliver web-based services and analytical tools in combination with access to a developing network of healthcare providers, pharmacies, and hospitals. All AMD Global products and telehealth technologies are built to provide high performance and quality, are easy to use and maintain, and operate dependably even in difficult environments. AMD Global is ISO 13485:2003 certified and runs an FDA registered facility operating within good manufacturing telemedicine best practices guidelines. The AMD platform provides UniDoc with immediate access to FDA & Health Canada approved devices (FDA Certified; ISO 13485; and FDA GMP – including all HIPPAA privacy and compliance) which support and help propel the Company’s fast-track plans for commercialization. Mr. Eric Bacon, President of AMD Global Telemedicine Inc. states, we are very pleased to have this opportunity to work with the UniDoc team. Their dedication, passion and commitment are outstanding and adds great value to their ability to drive ahead, overcome obstacles, and keep focused on achieving results. Their offering is unique in its vision and feasibility to scale. We are excited to have been chosen as UniDoc’s provider of choice for their telehealth technology needs today as well as help them extend and develop their telehealth portfolio going forward.” “We are so very delighted to have this opportunity to work with AMD Global as a key vendor of critical components and services. When we began this venture, we found a very short list of suppliers who so clearly fit our needs and timelines. It didn’t take long to determine that AMD’s medical grade instruments are integrated into high quality software. Additionally, AMD completely met our needs when it came to ensuring all required certification and compliance requirements were already in place. To everyone’s credit on both sides, the synergies were readily apparent, and it didn’t take long to come to an agreement. I’m confident that this arrangement will prove instrumental in unlocking the value of this exciting venture together.” UniDoc CEO Antonio Baldassarre About UniDoc Health Corp. UniDoc is developing a telehealth solution which is being designed as a self-contained remote virtual clinic within a private kiosk for patients to undergo full consultations as if they were present in a physician’s office. Telehealth opens the doors to a large segment of the population challenged by access, experience or understanding of online computer technology. It is the Company’s belief that physical accessibility is the key to its business proposition. UniDoc is dedicated to unlocking shareholder value by delivering an excellent product and sophisticated commercial network within an expedited timeframe.

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