As most of the news has been centered on Canada legalizing recreational marijuana, it is now bringing attention to the future of Canada’s healthcare industry. Particularly, innovation has become a focal topic on a global scale regarding healthcare. Medical technology advancements assist to save lives across the globe, by improving the accuracy of diagnoses, improving treatments, and aiding to provide enhanced medical care. The term “medical technology” covers a broad range of products as well as software.
The global medical technology industry’s market size is currently around USD$400 billion and is forecast to hit USD$495 billion in the next three years, according to a PwC report. Being that the Canadian economy is one of the largest in the world, it ranks as the 8th largest medical technology market, with the highest demand for diagnostic and patient monitoring equipment., according to Emergo, a leading regulatory consulting firm specializing in global medical devices. As we continues to see changes in the industry, investors are focusing on the cross-over effect that health and marijuana may impose.
Premier Health Group, Inc. (PHGI.CN) is a company that develops innovative health care approaches that combine human skill-based expertise with emerging technologies. Premier Health’s subsidiary, HealthVue is focused on developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence (AI).
Premier Health is currently reviewing a pipeline of strategic acquisitions and scouting new locations, expecting to close on two of these opportunities before the end of this year. The company is specifically targeting the acquisitions of clinics, technology and patients in addition to cannabis clinic(s) and partnerships.
The company recently announced selecting Reliq Health Technologies Inc. as its exclusive technology partner. Reliq will be providing Premier’s HealthVue primary care clinics with a HealthVue-branded telemedicine, remote monitoring & AI solution for its clinical staff and over 100,000 active patients.
Reliq Health Technologies Inc. (RHT.V) (RQHTF) is a technology company that develops innovative mobile health (mHealth) and telemedicine solutions for the community-based healthcare market. Reliq’s iUGO Care platform supports care coordination and community-based healthcare, while integrating wearables, sensors, voice technology and intuitive mobile apps and desktop user interfaces for patients, clinicians and healthcare administrators.
Regarding aforementioned deal with Premier Health, Dr. Lisa Crossley, CEO of Reliq stated, “We are very excited to be selected by Premier Health Group as the exclusive technology partner for their HealthVue Clinics. We look forward to helping HealthVue establish themselves as a technology leader in primary care…Incorporating Reliq’s technology platform into their clinics will allow HealthVue to improve access to care and convenience for patients, supporting HealthVue’s goal of rapidly increasing their patient numbers and practice revenues. Reliq and HealthVue will share in new practice revenue streams created by the implementation of this technology platform. Expanding our user base into British Columbia with this partnership and into Australia with our recently announced pilots there clearly validates the relevance of our solution in multiple different clinical applications, geographies and healthcare systems.”
FSD Pharma Inc. (HUGE.CN) (FSDDF) is a cannabis company through its wholly-owned subsidiary FV Pharma. As of October 13th, FV became an ACMPR-licensed producer of marijuana. The company has a R&D partnership with SciCann Therapeutics, which develops innovative cannabis-based pharmaceutical products and has an exclusive license in Canada to produce a line of proprietary cannabinoid-based, patent-pending, indication-specific products.
Earlier this month, it was annouced that construction has commenced the company’s heritage museum and flagship dispensary at the former Kraft plant in Cobourg, Ontario., FV Pharma Inc headquarters. Local politicians and media were said to be in attendance at the ribbon-cutting ceremony.
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