ASX asthma stocks: Global Health becomes the latest contender
Health & Biotech
Health & Biotech
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Health software stock Global Health (ASX:GLH) has joined the club of ASX asthma stocks.
The company has nearly doubled in 2020 in conjunction with widespread adoption of telehealth solutions, including its own, Lifecard.
Lifecard is an online facility allowing patients to provide relevant health information directly to their health provider.
Today, Global Health announced a partnership with Asthma Australia, the peak consumer body for asthma patients in Australia.
Asthma Australia wants to halve avoidable asthma hospitalisations by 2030 and will position Lifecard as a platform so asthma patients can better manage their health and wellbeing.
Lifecard will also be integrated with wearables and remote monitoring devices.
Asthma Australia estimates almost 3 million Australians live with asthma and this costs the community $28 billion annually.
CEO Michele Goldman said Lifecard could help solve one of the biggest problems asthma patients face.
“People with asthma will often see more than one health professional over the course of time, even multiple visits to different emergency departments,” she said.
“We often hear that people with asthma get rather exhausted retelling their health history, which can be complex and traumatic, and that doctors appreciate the opportunity to assess a health record.”
Global Health boss Matthew Cherian echoed these words saying he was looking forward to what his company could achieve as part of the deal.
“We’re very pleased with the arrangement we have with Asthma [Australia] so we can see if we can help people living with asthma to be more empowered to manage their condition better,” he told Stockhead.
Investors appeared excited too, with the company one of the biggest gainers this morning, surging 50 per cent.
A number of other ASX stocks are in the asthma space, including companies with telehealth solutions.
Medical Developments International (ASX:MVP) sells physical products which optimise asthma treatment including spacers, masks, peak flow meters and portable nebulisers.
A handful of other stocks are in the lung imaging field, whose clientele includes (but is not limited to) asthma patients.
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