Elsight (ASX:ELS) - Outgoing CEO, Nir Gabay (right)
Outgoing CEO, Nir Gabay (right)
Source: Financial Review
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  • Data transmission specialist Elsight (ELS) has continued to operate steadily in the face of COVID-19 lockdowns, restrictions, and infections
  • The company has shipped all units of its Halo device to Alrena Technologies as part of August’s $300,000 order
  • On top of this, Elsight recently landed CE mark certification for its Halo tech, meaning it meets European Union health, safety, and environmental standards
  • As such, Elsight can start to roll out the device in scale across the European Economic Area
  • However, it seems investors might be waiting for some more substance in market announcements from Elsight
  • Shares in the company slipped over five per cent today to close worth 54 cents each

Data transmission specialist Elsight (ELS) has continued to operate steadily in the face of COVID-19 lockdowns, restrictions, and infections.

The company outlined some of its recent achievements in a business update to shareholders this morning, where it said it has settled into an established operating routine after the disruption wrought by the coronavirus.

Specifically, Elsight has already shipped all units of its Halo device to Alrena Technologies as part of August’s $300,000 order.

The Halo units will be incorporated into a portable and light version of Alrena’s existing Smartmedicase, branded as Smartmedibag, which is a backpack designed to remotely connect nurses and doctors to rural patients in real-time.

The emergency backpack is, effectively, a portable telehealth device — meaning it needs fast bandwidth and stable communication in order to operate most effectively. This is precisely what Elsight’s Halo product was designed for.

On top of completing the Alrena order, Elsight has recently landed CE mark certification in the European Union, which means its product meets E.U. health, safety, and environmental standards.

This means Elsight can now look to deploy the Halo device at scale across the European Economic Area (EEA).

Looking ahead, Elsight said its main focus is ramping up its commercial rollout for devices for use with drones and robotics, rural communication, telemedicine, and live-streaming.

The company said since the initial release of Halo, it has carried out “extensive” proof of concepts for more products.

Nevertheless, it seems investors might be waiting for more substance in Elsight’s announcements before placing any more orders.

Elsight shares slipped 5.26 per cent today to close worth 54 cents each. The company has a $57.8 million market cap.

ELS by the numbers
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