CORAL GABLES, FL / ACCESSWIRE / November 2, 2018 / The recent boom for things like medical marijuana in the UK as well as the rise of healthcare technology have investors interested in new and exciting companies. The recent surge in interest has seen sector stocks boom. Recent developments across both sectors have new companies targeting expanded market share.
Just this week shares of Premier Health Group (PHGI.CN) (PHGRF) saw its shares begin to trade higher. Technology has become a major part of the healthcare industry, as we know it. The marketplace is no longer solely focused on drug treatments or FDA trials. Access to services is becoming a larger focus for today's ''on the go'' population. The telemedicine approach has begun to open new opportunities for a number of public and private companies alike. Could it also be the future for things like the marijuana industry? Time will tell.
For Premier Health Group (PHGI.CN) (PHGRF) there could be a big crossover between healthcare technology and realized growth from the cannabis market. In it's October corporate update, the company stated its expansion plan. This plan also includes new clinic openings, acquisitions (clinic, technology, and patients) and cannabis clinic(s) and partnerships.
The company has further focused on the developments of telehealth services for a very underserved country, which has also legalized cannabis; Canada. The company's subsidiary, HealthVue has an ecosystem of over 100,000 active patients, and according to the company, they also have plans to ''rapidly increase that number both domestically and internationally.'' Unlike other telehealth companies listed, HealthVue also has 4 clinics in British Columbia with plans to expand to the rest of Canada via its telemedicine model.
The benefit to Premier Health is that it can tap into the existing payment structure that Canada offers. Unlike the US, the telemedicine visits are already covered by the provincial health insurance plans in several provinces so there is no cost to the patient to access this service. HealthVue expects to make the first version of the app available to their patients in Q4-18.
In other news, The Greater Cannabis Company, Inc. (OTC PINK: GCAN) has taken a different approach to the ''healthcare/cannabis'' connection. The company is a biopharmaceutical company focused on development and commercialization of innovative delivery systems for the Cannabis market.
The Company recently completed development and reformulation of its eluting patch (EPP) for cannabinoid use. The EPP has been developed in the past for pharmaceutical and over the counter products, as well as for oral health applications.
Further to this, The Greater Cannabis Company has entered into a new stage of ramping up its efforts to commercialize the technology through sublicensing and joint venture agreements. Target partners include licensed producers and dealers in the United States, Canada, and abroad, as well as pharmaceutical companies focused on cannabinoids therapies.
''We are head down and intently focused on bringing our technology to market, and closing deals. The principles of the Company have personally invested hundreds of thousands of dollars into acquiring the rights to technology and developing it for cannabinoid use,'' commented Mr. Zacharin, CEO of Greater Cannabis.
These are just a few examples of the types of innovation being created with the advent of technology and the boom that the legal cannabis industry has begun to create. In their own respects, each industry (healthcare technology and cannabis) have growth potential ahead. The global medical cannabis market size was estimated to be more than US$ 11 Billion in 2017. The cannabis market value is further expected to reach around US$ 37 Billion by 2023, exhibiting a CAGR of around 22% during 2017-2023 according to a report from Research And Markets. In addition to this, there are a slew of companies applying to list on major US Exchanges including the likes of Aphria (APH.TO) (NYSE:APHA) which was formerly listed on the US OTC exchange under the symbol (APHQF).
Furthermore, the MarketsAndMarkets report "Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, HIE, Telehealth, Healthcare Analytics, Population Health Management, Supply Chain Management, CRM, Fraud Management, Claims Management) End User (Provider, Payer) - Global Forecast to 2021", shows that the healthcare IT market is projected to reach $280.25 Billion by 2021 from $134.25 Billion in 2016, at a CAGR of 15.9% during the forecast period.
In all cases, the markets have begun to see increased trading activity and share prices during the early stages of growth. For investors, there may be plenty more information to look forward to as these markets evolve.
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