UCREST (0005) UCrest Bhd penetrates US respiratory market amid Covid-19 pandemic
KUALA LUMPUR (May 4): Mobile health platform developer and operator UCrest Bhd has made inroads into respiratory medical centers, commonly known as sleep centers or sleep clinics in the United States, amid the Covid-19 pandemic with iMedic technology, the leading platform for online medical services.
In a statement May 3, UCrest said iMedic technology could provide online medical consultation and management based on the uploaded vital signs from patients' connected medical devices and symptoms recorded.
"iMedic can be wirelessly connected with several leading brands of CPAP (Continuous Positive Airway Pressure) ventilators where patients can be managed remotely.
"The technology is used by respiratory centers for managing the virus infected as well as the regular chronic respiratory patients," it said.
UCrest chairman and chief executive officer (CEO) Eg Kah Yee said the firm expects to see an accelerated pace in the adoption of the technology, not just in the respiratory market but in other chronic disease management markets in the US as well.
"We also expect [the] US market to be a significant revenue contributor in the near future," he said.
UCrest explained that the current market size of sleep disorders, a common respiratory disease in the US, is estimated to be north of US$8 billion.
It is reported that between 50 and 70 million Americans have chronic sleep disorders where patients' breathing stops and starts repeatedly, and they snore loudly.
"Covid-19 has caused new exponential new demand to acute respiratory treatment in addition to the chronic sleep disorder market," it added.
Meanwhile, the CEO of Snooze Laboratories, Massachusetts, Jason Metcalfe, said the technology is definitely the way to go.
Additionally, Lyron Deputy, the CEO of Delaware Sleep Disorder Centers, Delaware, said the firm not only wants to use the technology for respiratory patients, but also for other chronic patients as well.
“It will keep doctors and nurses safe in a pandemic like Covid-19,” he added.
At 9.54am, Ucrest shares were unchanged at 9.5 sen, for a market capitalisation of RM44.08 million.
http://www.theedgemarkets.com/article/ucrest-penetrates-us-respiratory-market-amid-covid19-pandemic
