The Medical Alarm Market globally will grow to $10.7 billion by 2026, growing at a CAGR of 6.6%. This new estimate by researcher Research and Markets is triggered by the burst is telehealth technology. The market attracts both small cap stocks, such as Wearable Health Solutions, Inc. (OTC: WHSI), and larger NYSE security brands, such as ADT (NYSE: ADT) and privately-held Alert 1. But size only matters when telehealth technology delivers in medical alarms. Even a multinational like Philips (NASDAQ: PHG) is a player in this global growth market. In addition, the personal health devices market has attracted smaller, niche, privately-held device marketing companies drawn by its projected growth.
ADT ATTRACTS $1.5 BILLION FROM GOOGLE, STATE FARM
ADT (NYSE: ADT), a brand name in home security, has attracted a $1.5 billion investment from Google and State Farm combined. State Farm acquired nearly 15% of its stock, and Google invested $1.2 billion. Apollo Global Management is already a major investor. ADT offers an ADT Medical Alert System with in-home operations, a mobile base unit, wall-mount buttons, fall detection pendant and remote monitoring. ADT’s FindU program also is targeted to lone, remote, high risk and night shift workers/drivers to feel safer and enable them to enjoy the safety of real time tracking. It features GEO fencing, tracking and digital tracking by employers via smart phones and watches. ADT stock jumped more than 10% early after the Google investment.
Wearable Health Solutions, Inc. (OTC: WHSI) is competing against larger, branded players in this market with an investment in new 4G products and a ’white glove’ care program with dealers, wholesalers and end users. WHSI markets to a dealer network of some 200 and can now arrange financing for them of up to $100,000 apiece. WHSI also generates revenue from recurring service and monitoring fees. The Company has filed for an up list and sells to a market in the U.S., Canada, New Zealand and the Caribbean. Its newest device is a 4G iHelpMax which offers geo-fencing, AI utilizing Google Assistant, remote monitoring and data collection of vital signs in real time. Key to this market, according to Peter Pizzino, president, are the newest technologies of telehealth which can deliver vital data to medical professionals. Peripherals of the newest device can deliver medical data to WHS HIPPA-compliant cloud so issues such as heart disease, diabetes, hypertension, can be viewed on demand. The company has added an Advisory Board as it grows. Harrysen Mittler, Chairman and CEO, has proved adept and successful at going to capital markets and raising funds to finance the new technology such as IoT. That levels the playing field with significantly larger players ADT and Philips. WHSI is newly funded by a Reg. A offering with $5 million to build and sustain its new sophisticated 4G entry. WHSI projects full year 2022 volume at $5.87 million.
Philips (NYSE: PHG) is a multi-national healthcare provider company focused on sophisticated devices for analysis detection of health issues and also competes in the personal device healthcare market. But technology advances not brand name alone defines market share and success in this market. Helping smaller dealers finance purchases, ‘white glove’ treatment of end-users and entering the market with new, sophisticated devices which monitor val signs such as heart rate and diabetes into HIPAA-cloud, enables a company to compete with anyone.
CONCLUSION
Telehealth in the personal care device market is an emotional purchase for the elderly, caregivers and lone workers. Individuals are more concerned with performance than international brand alone. That makes for an investor choice to enter this market with a set of very unique choices: the smaller largely unbranded player vs. the larger known brand. Dealers on the ground can influence end-user buying decisions.
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