Investors flock to Lifespot as a telehealth play
Shares in Lifespot Health Limited (ASX:LSH) opened at 5 cents on Wednesday morning and went on to trade as high as 5.3 cents, representing a gain of about 140%.
This was in response to information that the company provided regarding its fully integrated temperature self-tracking and monitoring system.
Lifespot’s core expertise is in connecting medical diagnostic devices and digital medicine delivery systems via Bluetooth and Smart device APPs to its cloud based ISO13485 accredited proprietary BodyTel patient management system.
The company’s systems and applications are cloud and smartphone-based and easy to use.
Lifespot has responded to consumer demand, developing this technology for individuals and organisations while deploying Australian and international resources to further develop and complete the BodyTelTM APP and platform extension.
This incorporates temperature monitoring via the Bodytel platform and a branded Bluetooth thermometer.
The current Australian government guidelines for COVID-19 recommend ongoing self-monitoring of symptoms including fever, coughing, sore throat, fatigue and shortness of breath.
When checking for fever, most of the current digital thermometers in the marketplace only keep a short series of historical data which is not visually represented to enable easy tracking.
In addition, this data is not able to be aggregated to provide community, organisation or geographical reporting.
More specifically, individual consent has to be obtained in order to share such data into an aggregated data set.
US research suggests Lifespot is on a winner
Recent studies in the US have shown that smart thermometers can be a new source of information for flu surveillance and forecasting, allowing for more rapid and efficient disease management.
In countries like Singapore and Hong Kong it is believed their approach to ongoing self-tracking and community tracking has been a significant driver of the ability to reduce the impact of COVID-19.
Management noted that the COVID-19 at risk patients can be those with Cardiovascular Disease or Diabetes.
The Bodytel® System already has the capability to track blood sugar, ECG, blood pressure and weight via the existing Bluetooth connected devices.
Extending the platform to track fever via body temperature is a commercially low risk, yet logical extension to the platform and can currently address the large unmet need globally for this function arising from the COVID-19 pandemic.
From a broader perspective, Lifespot provides its diagnostic systems and medicine delivery platforms to healthcare enterprises for own branding white label contracts.
The company’s German based proprietary BodyTel system is based on modern and future-proof internet technology, utilising advanced technologies such as document-based databases and biological neural networks.
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