Transcription of Finance News Network Interview with G Medical Innovations Holdings Limited (ASX:GMV) President and CEO, Dr Yacov GevaCarolyn Herbert: Hello I’m Carolyn Herbert from the Finance News Network and joining me from newly listed mobile health technology company, G Medical Innovations Holdings Limited
(ASX:GMV) is President and CEO, Dr Yacov Geva. Yacov, congratulations on the listing.
Dr Yacov Geva: Thank you.
Carolyn Herbert: Can you start by giving us an introduction to G Medical?
Dr Yacov Geva: We’ve been established 2.5 years ago with the aim to develop medical products for consumers, as well as hospitals. We’ve assembled a fantastic team to do it, R&D management, people who came from the industry, people with many years of experience. Experience to take every product through FDA clearance done, many of them and we are here to move the product into the market.
Carolyn Herbert: Now to your software solutions. Can you tell us a bit about each, starting with your Smartphone G Medical Jacket?
Dr Yacov Geva: The Jacket is basically a product that we are adding to our Smartphone, any Smartphone. And the product that we are adding is capable of performing an ECG, body temperature, oxygen saturation of your blood, stress analysis, respiration, heart rate. And in the future, we will add more components to it.
Carolyn Herbert: What about your Wireless Vital Signs Monitoring System?
Dr Yacov Geva: This product is geared towards hospitals, pre-hospitalisation, hospitalisation and post discharge. So if a patient comes to a physician and tells him, doctor I don’t feel well, he or she will put the patch on the patient and the patient will be monitored by us. We are a call centre to find what are the complaints and if they’re there, we’ll find what is the reason the patient is complaining. If there is a need to hospitalise the patient, we’ll hospitalise the patient and we will continue to monitor the patient with the same patch. And when the patient is discharged from the hospital, at least in the United States, we will continue to monitor the patient with the same patch.
Carolyn Herbert: Now to your listing and finances. How much did you raise and where are the funds going?
Dr Yacov Geva: We’ve raised $12 million and the money is basically to commercialise our products, to open more markets, to continue R&D and continue our business development.
Carolyn Herbert: Who participated and what’s management’s stake post IPO?
Dr Yacov Geva: We have mostly institutions that have participated in the IPO and around 75 per cent of the shares are held by management.
Carolyn Herbert: When do you expect to see first revenues?
Dr Yacov Geva: We are working very hard to get our clearance to start revenues and we think, it will be the next 24 months.
Carolyn Herbert: A more general question now Yacov. Where do you see significant gains in the mobile health market over the next five years?
Dr Yacov Geva: As we know our life is dependent today on the phone, everything is moving to the phone. We see hundreds and maybe thousands of apps on smart phones. And eventually the m-health and e-health is moving repeatedly on smart phones. 2016 we have seen over $17.5 billion of expense on m-health and e-health and we believe that over the next five years we will see an above $20 billion market for the m-health and e-health business.
Carolyn Herbert: Finally Yacov, what’s your long-term ambition for the company?
Dr Yacov Geva: Continue developing products, diversing into new territories of m-health and e-health. Being the leader at the forefront of those products and services. And seeing a better world of patients who need help, not waiting weeks, months and hours just because there is no solutions.
Carolyn Herbert: Dr Yacov Geva, thanks for the update and congratulations on the listing.
Dr Yacov Geva: Thank you.
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