Investorideas.com, a global investor news source covering tech and cloud stocks, releases a snapshot looking at how cloud technology is playing a leading role in the future of health and fitness.
According to recent research, “The global healthcare cloud computing market is expected to register a CAGR of 18% during the forecast period, 2018 to 2023. With the increasing adoption of healthcare informatics, the healthcare information system service providers are significantly implementing the cloud-based software, as it comprises less investment and minimal support requirements, in terms of technology. High-volume storage capacity and accessibility provided by cloud-based applications are also favoring the market.”
With headlines like, “Microsoft and digital health: AI, IoT and cloud computing point the way to personalised care,” investors can take note that most of the tech giants are in the space.
Fitbit (NASDAQ:FIT), one of the most well-known health solution technology companies and leading global wearables brands announced four new products as well as its recent partnership with Solera Health to help improve health culture and prevent type 2 diabetes.
From recent news; “Fitbit Versa Lite Edition(TM), Fitbit Inspire HR(TM), Fitbit Inspire(TM) and Fitbit Ace 2(TM) are designed to help make health and fitness accessible to more consumers across the globe.”
“Since founding Fitbit almost 12 years ago, we’ve focused on making health fun and achievable for everyone – regardless of fitness level or goals. Today we have a growing, supportive community of more than 27 million active users around the world who are getting more active, sleeping better, reducing stress, managing weight and getting healthier from being ‘on Fitbit,’ which is a testament to the power of our platform and our consistent innovation across our devices, software features and mobile app experience,” said James Park, co-founder and CEO of Fitbit.
Smaller player Textmunication Holdings, Inc. (OTC:TXHD), a cloud-based communication technology holding company is also looking to marry cloud technology and healthy living, having just announced that they will be attending the 2019 International Health, Racquet & Sportsclub Association (IHRSA) Convention, March 13-15 in San Diego. IHRSA represents over 10,000 for-profit health and fitness facilities and over 650 supplier companies in 71 countries.
TXHD is also moving forward with its plan to acquire ‘Off Day Trainer’ from The RELENTLESS Management Group (“RMG”), a technology management firm based in San Luis Obispo, California. The ODT platform focuses on mobile engagement for the personal training industry. The patented platform will be integrated with Textmunication’s Smart Automated Messaging (SAM) platform allowing for a best-in-class scalable fitness mobile marketing platform with access to more than 300,000 personal trainers and more than 35,000 North American health clubs.
While cloud technology companies may be influencing healthcare, the same can also happen in reverse. Premier Health Group (CNSX:PHGI.CN) (OTCQB:PHGRF), a company focused on developing innovative approaches that combine human skill-based expertise with emerging technologies for the healthcare industry, recently announced that it is growing it’s development team at Cloud Practice Inc., which PHGI recently acquired, to support the Company’s focus on digitizing health care.
“The future of healthcare is digitally driven and this strategic investment in growing Cloud Practice’s team will enable us to fast-track the build out of our app – a much-needed technology innovation in healthcare,” said Dr. Essam Hamza, CEO of Premier Health. “Our goal is to tackle the accessibility bottlenecks by putting the power in the hands of patients. Not only will our app enable patients’ access to their health care providers, but also allow for cohesive patient care by coordinating and connecting all members of their health care team.”
In other recent news in the sector, Reliq Health Technologies Inc. (TSXV:RHT.VN) (OTCQB:RQHTF), a technology company that develops innovative mobile health and telemedicine solutions for the community-based healthcare market reported that it is collaborating with Fitness and Wellness Consulting Services, LLC in Princeton, New Jersey to provide a white-labeled version of Reliq’s platform to collect and analyze population health data for participants in Fitness & Wellness Consulting Services’ medically-supervised Wellness Programs.
Cloud technology has been integrating into healthcare and healthy living for the past 3 years but now it seems the momentum has caught up to the potential, which means a brighter, healthier future with all of our heads in the cloud.
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