- Mobile healthcare company G Medical Innovations (GMV) has landed regulatory approvals in both Italy and Taiwan
- The company’s Prizma product is now officially registered for distribution by the Italian Health Ministry
- On top of this, Prizma received a permit licence by the Taiwanese Food and Drug Administration
- The company will now work with its partners to distribute Prizma in these countries
- Prizma is a medical mobile phone case designed to measure key health markers all from a user’s mobile phone
- G Medical shares have been in a trading halt since March 26 but last closed worth 4.5 cents each
Mobile healthcare specialist G Medical Innovations (GMV) is ticking regulatory boxes around the globe with its Prizma medical phone case.
Today, the company told shareholders the Prizma device is officially registered with the Italian Health Ministry, meaning it’s approved for distribution and use in the country.
Released in tandem with this news is a Taiwanese permit licence for Prizma. This means the product is now authorised for use by the Taiwanese Food and Drug Administration (FDA).
The Prizma device is a phone case designed to measure key health metrics while a user is on the move. G Medical claims the tech can measure health indicators like heart rate, stress levels, blood oxygen saturation and electrocardiographic (ECG).
When linked to the Prizma smartphone app, the device can monitor users and inform health care professionals about symptoms associated with chronic diseases and illnesses.
Particularly given the health challenges Italy faces under COVID-19, G Medical said the Prizma device can play an important role in lightening the load on the healthcare systems facing capacity challenges.
With patients able to monitor their own vitals on the go, doctors visits can be less frequent and medical workers can put more focus on treating coronavirus patients.
G Medical will be working with European telehealth provider Meditel to give patients access to Prizma. According to the company, Meditel has ordered its first units.
“Receiving the necessary approvals from the Italian Health Ministry unlocks a tremendous opportunity for G Medical and we hope that the Prizma device can assist healthcare providers in treating patients remotely while services are inundated,” G Medical CEO Dr Yacov Geva said.
“The company is witnessing an overwhelming increase in demand for telehealth solutions due to the current healthcare challenges being experienced in all parts of the globe and we are confident that upon uptake, G Medical’s products will provide genuine medical value to physicians and patients,” he said.
As for its Taiwanese operations, G Medical said it is working with its business partner First Channel to start distributing Prizma products now that it has been given the FDA tick of approval.
G Medical shares have been in a trading halt since March 26. They last closed at 4.5 cents each in a $19.2 million market cap.