Two telehealth small caps join the COVID-19 gainers following product advancements

First it was hand sanitisers and then test-kit makers witnessing share price surges due to COVID-19 and their responses to the pandemic. But this week telehealth stocks have joined the race.

Yesterday 1st Group (ASX:1ST) rallied after launching an online directory of telehealth clinics and declaring it “the Airbnb of telehealth”.

This morning Oneview Healthcare (ASX:ONE) and Adherium (ASX:ADR) climbed higher after taking major steps to play their part in the crisis.

Oneview announced the launch of a cloud-based tablet solution to help healthcare systems and providers manage patients. It enables virtual rounds, interpretation services and even visitations — allowing patients to call friends and family.

The software has already been deployed in COVID-19 hotspot New York, specifically at academic medical centre NYU Langone Health.

Oneview also said it was working with Australian clients of its existing solutions to deploy this new software.

And boss James Fittler says the company’s new tech will be a big help in navigating the risk to frontline medical staff due to the current shortage of personal protective equipment available.

“Our solution enables ‘virtual rounds’, eliminating unnecessary exposure between clinicians and patients, preserving scarce PPE and ensuring clinicians are being deployed for critical clinical care,” he said.

Oneview shares climbed as much as 60 per cent in early trade this morning.

Helping asthma patients remember their medication

Meanwhile, Pennsylvania-based HGE Health has agreed to integrate Adherium’s asthma monitoring software into its telemedicine platform.

Adherium’s Halle technology helps asthma sufferers manage their conditions and track medication usage through a smartphone app and alerts.

People with respiratory symptoms are particularly vulnerable to succumbing to the COVID-19 virus. HGE Health CEO Michael Markus believes Adherium’s software will help patients at the moment because one potential catalyst is people forgetting to take their medications.

“This new ability to monitor and consider medication adherence is appealing to our existing customers and partners,” he said.

Adherium shares jumped 37.5 per cent this morning.