Rapid advances in technology including robotics and the Internet of Things are transforming traditional health care delivery. These innovations, including wearable devices and subcutaneous monitors are connecting patients and mobile devices to their doctors.
The catalyst is the rapidly evolving digitization of patient information, including CT scans and X-rays. As more of the information is moved online, assessments can be more easily shared and coordinated on computers mobile phones and tablets.
One recent example is the approval by the US Food and Drug Administration (FDA) of a device manager developed by Medtronic Corp. Medtronic (NYSE:MDT) is the world’s largest medical device company. It operates in 140 countries and employs over 86,000 people, but generates most of its sales and profits in the U.S.
The device manager helps doctors monitor pacemakers and other implanted cardiac devices via a wireless internet connection. Doctors use a dedicated iPad to receive signals and monitor data from a patient’s pacemaker to ensure that it is functioning properly and that the patient’s vital signs are stable.
As reported in MD Magazine, the device manager is simple to use and weighs about 2 lbs. The software includes a mobile application that allows for direct patient-to-physician data sharing.
The device manager complements the January 2019 launch of a mobile app which allows patients to use Bluetooth technology to communicate with their cardiac devices. The new device manager uses the app to link the devices.
The device manager has been approved in 20 countries and will be fully launched in the U.S. markets this year. The wireless capabilities and data transfer options will help physicians get lab results faster and potentially allow for them to interact more with patients and colleagues.
Medtronic is a top holding of the Harvest Portfolio Group Inc.’s Harvest Healthcare Leaders Income ETF (HHL:TSX, HHL.U:TSX).
The ETF had 20 stocks as of April 30, 2019, all global healthcare leaders with a minimum market capitalization of US$5 billion. The ETF has $347.7 million CAD in assets under management and a management fee of 0.85%. – AM
For more on Harvest Portfolio Group Inc.’s investment products, click here.
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