The coronavirus outbreak has had a significant impact on the global economy and many companies are struggling to adapt to the new market environment.
During the last month, we have noticed a significant shift in the market and this is a trend that is expected to continue until a treatment or a cure for coronavirus is discovered. From car dealerships to jewelry stores, consumers seem to be leaving their homes much less frequently and spending less on discretionary items.
Although the recent trend is concerning, we have been able to identify pockets of opportunity and believe that there are still a number of attractive industries available. The coronavirus has had a significant impact on the level of demand for certain types of products or services and this is a trend that our readers need to be aware of.
One of the greatest beneficiaries of the coronavirus outbreak has been the telemedicine market. During the last two months, we have noticed a significant spike in demand for these services and this is a vertical that we have been bullish on since 2016. Today we want to highlight 3 cannabis and hemp companies that have expanded operations and are highly levered to the telemedicine market.
Emerald Organic: An Integrated Healthcare Technology Growth Story
During the last month, Emerald Organic Products, Inc. (OTC: EMOR) has been nothing short of an execution story, announcing several significant transactions and we are bullish on how the story has evolved during this time. When analyzing the growth prospects that are associated with the transactions, there is a lot to be excited about and we believe that Emerald is an opportunity that is flying under the radar.
A transaction that we have become increasingly excited about is related to Emerald Organic’s definitive agreement to acquire Carie Health Inc., a leading telehealth and virtual care technology and service solutions company. Carie offers a fully-proprietary end-to-end telehealth solution and we expect the acquisition to quickly prove to be accretive.
One of the reasons we are favorable on the acquisition of Carie is related to the unique physician centric localized provider model that it uses. The combined company is an integrated healthcare technology company that has substantial potential catalysts for growth. Going forward, we expect the combined company to satisfy the increasing demand for a high-quality virtual healthcare solution.
The acquisition comes less than a week after Emerald Organic Products announced the acquisition of Bonsa Health, a leading digital pharmacy that is capable of providing same day delivery of prescribed medications in the US. We are favorable on the amount of value that can be generated through Carie and Bonsa and believe that the market under-appreciates this aspect of the story.
Through a series of organic and inorganic growth initiatives, Emerald Organic has been able drive the story forward and we find this to be significant. We believe that Emerald Organic Products represents an attractive play on the tele-medicine market and are favorable on the assets that are owned by the business. The company is led by a management team that is focused on creating value for shareholders and we will monitor how the story evolves from here.
Empower Clinics: Expands into the Tele-Medicine Market
Although Empower Clinics (CBDT.CN) (EPWCF) has been highly focused on the cannabidiol (CBD) and cannabis clinic market, the company has expanded operations and has started to offer telemedicine services for patients through its Sun Valley Health division. The development represents a substantial opportunity for the business and we are favorable on the types of assets that are owned by the business relative to the telemedicine market.
With its base of 165,000 patients, Empower Clinics will begin offering digital access to physicians, using the newly launched tele-medicine platform, for a variety of consultations. The visits will be conducted both in-clinics and virtually through secure video, on browser and through the mobile app. Going forward, Sun Valley digital health initiatives will include a combination of in-clinic virtual kiosk-based physician visits, and full tele-medicine virtual consultations based on patient availability.
During the last year, Empower Clinics has been in the middle of a transition and has been focused on new verticals. We are favorable on how the expansion will increase the number of revenue streams that are benefiting the business. The management team has a proven track record of success and we will monitor how it is able to execute on the tele-medicine market. We believe that Empower Clinics is an opportunity that is flying under the radar and is a company to be watching.
Reliq Health Technologies: A Turnaround Story to be Watching
Reliq Health Technologies Inc. (RHT.V) (RQHTF) was an early mover on the tele-medicine market and is an opportunity that we have been closely following. Reliq Health is a technology company that develops innovative mobile health and telemedicine solutions for community-based healthcare and we are favorable on how the story has advanced so far this year.
In late March, Reliq Health announced that it has signed a contract with MedTech Evolutions, LLC in Kentucky to provide its iUGO Care platform to over 27,000 eligible Medicare patients in Alabama, Illinois, Mississippi and Tennessee. MedTech Evolutions, LLC is a comprehensive healthcare solutions provider that is primarily focused on telemedicine products and digital services for the chronic care market.
Reliq Health will be deploying its Remote Patient Monitoring (RPM), Care Chronic Care Management (CCM), Behavioral Health Integration (BHI) and Psychiatric Collaborative Care Services (CoCM) to these patients to help improve health outcomes and enhance access to care. Reliq will be providing its iUGO Care platform and associated support services to MedTech Evolutions’ clients. Relqi Health expects onboarding to commence this month and will generate approx. $65 of SaaS and support services revenue per patient on the platform.
Reliq Health Technologies is a healthcare technology company that specializes in developing innovative software solutions for the community care market. During the last year, the company has been nothing short of a turnaround story and we will continue to monitor how the story evolves from here.
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