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● G Medical’s growth strategy focuses on business-to-business and business-to-consumer sales with their customers including hospitals, senior care facilities and the patients themselves.
● G Medical has seen their revenue grow from $109,000 in 2017 to $5.53 million in 2019, a CAGR of 612%. Revenue in 2020 was reduced to $4.9 million due to the economic impact of COVID-19 but despite this, the company was able to improve their operating margin from a loss of 5.5% in 2017 to a profit of 21% in 2020.
● On May 14, 2020, G Medical received emergency authorization by the FDAfor the use of their VSMS ECG Patch to be used in a hospital setting, allowing healthcare professionals to remotely monitor a patient’s heart who are also undergoing treatment for COVID-19 with prescription drugs that, in some cases can cause life threatening arrhythmias.
About G Medical Innovations Holdings Ltd.
G Medical Innovations Holdings Ltd. is an early commercial stage healthcare company engaged in the development of next generation mHealth and telemedicine solutions and monitoring service platforms. The Company’s solutions and services can empower consumers, patients and providers to better monitor, manage and improve clinical and personal health outcomes, especially for those who suffer from cardiovascular disease (or CVD), pulmonary disease and diabetes. The Company’s current product lines consist of its Prizma medical device (or Prizma), a clinical grade device that can transform almost any smartphone into a medical monitoring device enabling both healthcare providers and individuals to monitor, manage and share a wide range of vital signs and biometric indicators; its Extended Holter Patch System, a multi-channel patient-worn biosensor that captures electrocardiography (or ECG) data continuously, including its QT Syndrome Prolongation Detection Capabilities Patch. In addition, the Company is developing its Wireless Vital Signs Monitoring System (or VSMS), which is expected to provide full, continuous and real time monitoring of a wide range of vital signs and biometrics. Its monitoring services include provision of Independent Diagnostic Testing Facility (or IDTF) monitoring services and private monitoring services. For more information, please visit https://gmedinnovations.com/
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