G Medical Innovation Holdings Inc. (NASDAQ: GMVD) stock plunged by 12.75% at last close while the GMVD stock price declines by 1.92% in the after-hours trading session. G Medical Innovations Holdings Ltd. is a healthcare start-up focused on developing next-generation mHealth and telehealth technologies, as well as monitoring service platforms.
GMVD stock’ Update
Although the epidemic placed healthcare at the forefront of everyone’s minds and hearts, taking care of oneself and seeking medical help to stay healthy is nothing new. You no longer need to leave your home to obtain professional care, which saves you money and time while also lowering the costs of in-office medical appointments.
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People requiring health management and oversight can use G Medical Innovations’ mobile and e-health services. By being active about their health and delivering specialised digital health systems directly to individuals in need to improve their quality of life, the company’s services serve to enhance patient outcomes.
The company’s medical monitoring call centres provide 24-hour clinical monitoring and are linked to its health providers so that doctors may understand the data and interact with patients. Furthermore, the app and medical call centre monitoring services are HIPAA-compliant, so you can rest easy.
With a strategy in line to expand to 25 sales reps by the end of 2021, up from the current five, the company expects to see a significant rise in usage of its monitoring telehealth services, as well as continuous revenue growth. G Medical Innovations also intends to air television commercials promoting the PRIZMA G2 monitoring gadget, which connects to a medical call centre.
G Medical announced financial outcomes for the first half of 2021, the summary is stated below:
- In the first half of 2021, total revenues climbed by 45.5 percent to $2,925,000, up from $2,010,000 in the first half of 2020.
- In the first half of 2021, the net loss was down 39.3% to ($4,771,000), or ($0.51) per share, compared to ($4,981,000), or ($0.84) per share, in the first half of 2020. The revenue rise is primarily to blame for the decline.
- Cash and cash equivalents totalled $13,380,000 as of December 31, 2020, compared to $278,000 as of December 31, 2020.