The global healthcare market is forecast to hit $53.65 billion by 2025, according to a report by Grand View Research. There are several factors accountable for driving the growth of the healthcare industry such as the reduction of healthcare spending among hospitals and providers, improved technology and the rising use of data-enriched products like mHealth, eHealth, Electronic Health Records and mobile apps.
The report detailed, “with the combination of artificial and human intelligence data analytics, which offer wide opportunities to further customize medical approaches, the demand for these tools is anticipated to increase over the forecast period”.
Premier Health Group (PHGRF) (PHGI.CN), a company focused on innovative healthcare approaches that combine human skill-based expertise with emerging technologies, announced that further to its previous news release, it has entered into a share purchase agreement to acquire two cash flow positive Metro Vancouver pharmacies. The pharmacies had combined annual revenue of approximately $6 million for the fiscal year ended August 31, 2018, and Premier Health expects to complete the acquisition during Q2 2019.
“We are very excited about this opportunity to acquire two well-run and profitable pharmacies. As part of our patient centric model, fill and fulfillment is a major component of our telemedicine app. We are also pleased to have the pharmacies’ key management team, with over 20 years’ of combined experience managing pharmacies, come on board to continue running operations. In light of our recent announcement of our medical cannabis decision tool for our JUNO EMR clients, our pharmacists will be able to help with patient education and support regarding medical cannabis” said Dr. Essam Hamza, CEO. “In addition, with one of the pharmacies occupying a space of over 6,000 square feet, we have the potential to open a new medical and/or cannabis clinic within the existing space.”
This news followed the announcement that the company has initiated integration of CB2 Insights’ (CBII.CN) medical cannabis Clinical Decision Support (CDS) tool to provide Premier Health’s over 4600 physicians using its Juno EMR platform access to the industry’s sole medical cannabis-specific CDS tool. Premier Health has also recently partnered with Bio Conscious Technologies (BCT) to bring their artificial intelligence (AI) technology to Premier Health’s user base for improved monitoring and management of chronic conditions, such as diabetes.
Avinger, Inc. (AVGR), a commercial stage medical device company, announced that it has received 510(k) clearance from the U.S. FDA for its Pantheris SV (Small Vessel) image-guided atherectomy system, a product line extension of its Lumivascular image-guided atherectomy platform. The Pantheris SV device is designed for the diagnosis and treatment of Pulmonary Artery Disease (PAD) in small vessels, 2 to 4 millimeters in diameter, with its lower profile and longer length.
“We are excited to receive U.S. pre-marketing clearance for Pantheris SV, which we believe could expand our addressable market for atherectomy procedures by as much as 50%,” said Jeff Soinski, Avinger’s President and CEO. “With the clearance of this new device, we are well-positioned to build on the positive momentum we have seen in our Pantheris business since the introduction of the next-generation system in 2018. Following our anticipated limited launch of Pantheris SV, we plan on leveraging our growing commercial infrastructure and installed base of Lumivascular accounts to efficiently scale up the introduction of Pantheris SV and drive growth of our Pantheris product family in the second half of 2019.”
Back in October, the device received CE Marking and the first patients were treated with the device in Germany in November. Avinger plans to have a limited launch of the device in several U.S. sites when commercial product is available. According to the company, this new device is expected to increase the available market for the company up to 50%.
Precipio, Inc. (PRPO), a specialty diagnostics company, announced that it is negotiating a definitive agreement with a manufacturer to produce its patented IV-Cell media. According to the company, the manufacturing partner comes with experience and large volume manufacturing capabilities. Furthermore, it has the embedded quality-control processes, and the various ISO-related certifications required to mass-produce the media for global distribution.
“This is an exciting time for us, as we move towards the start of commercializing the technologies we’ve developed,” said Ilan Danieli, CEO. “The company and its shareholders deserve to reap the benefits of the innovative products developed, as we translate ideas in the laboratory into products – and revenue, for the company.”
This news followed the announcement of Methodist Hospital, of Memphis, TN, selecting Precipio’s HemeScreen assay for use in its molecular hematology testing laboratory. HemeScreen’s average turnaround time is 2- 4 days, compared to 2 weeks. According to the company, this deal may generate between $50-100K in revenue annually.
Hemispherx Biopharma, Inc. (HEB), an immuno-pharma R&D and emerging commercial growth company, announced the first participant received initial dosing in its clinical trial sponsored by Roswell Park Comprehensive Cancer Center evaluating the company’s experimental drug Ampligen® (rintatolimod) in combination with Merck’s Keytruda® (pembrolizumab) for the treatment of metastatic triple-negative breast cancer.
“We are very excited to see the first patient treated as part of this important clinical trial evaluating Ampligen in combination with pembrolizumab in patients with metastatic triple-negative breast cancer. We could not ask for better partners than the world-class team at Roswell Park Comprehensive Cancer Center, as we seek to evaluate the impact of the combined therapy on this high risk and very sick patient population,” said CEO Thomas K. Equels.
“Our extensive work with Ampligen has led many top oncologists to conclude, including in peer reviewed medical journal articles, that Ampligen has the potential to change the tumor microenvironment. Making tumors easier targets for checkpoint blockade therapies creates an exciting new approach with the potential to significantly improve clinical outcomes for patients in multiple solid tumor cancer types.”
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