Milestone takes aim at $116 billion healthcare market

Published at Jul 6, 2016, in Technology

Milestone Sports has announced it will expand beyond its target running market and try to get into the $116 billion Australian healthcare market – with a prototype due by the end of the year.

The reverse takeover target of Victory Mines (ASX:VIC) told its investors this morning that it was now actively seeking a way to apply its shoe-worn sensor technology to the healthcare sector – in particular to predict falls for at-risk people.

Milestone already makes a shoe-worn sensor to measure factors in a runner’s stride including stride length and gait – and the plan is to apply this technology to the feet of those at-risk of a fall.

It says it is confident that by analysing the data from the device it would be able to accurately predict when a person is at risk of a fall.

This can then be sent as an alert to a healthcare provider.

VIC told its shareholders that in the US alone the indirect cost of falls in 2013 reached up the $US30 billion ($A40.16 billion), according to the US Centres for Disease Control and Prevention.

“The healthcare sector represents a significant opportunity for our technology and another one of the countless potential capabilities of the MileStone Pod and platform,” Milestone Sports’ CEO, Yaron Garmazi, said.

“We have a real opportunity to help professional healthcare providers manage their patients’ injuries and conditions with a solution that isn’t yet available to the market.”

It said it would aim to have a prototype of a device tailored to the healthcare market ready by the end of the year.

It is not guaranteed to hit this deadline, though.

It also said that it had appointed an expert in the health field to act as a consultant in the development of the device.

More on Victory Mines and Milestone Sports

VIC is in the middle of a reverse takeover of Milestone Sports, which has developed a shoe-worn sensor which is designed as a clip-and-go solution, which measures metrics such as foot strike, cadence, rate of impact, and leg swing.

A woman running

This differs from other similar products on the market as it actively measures these metrics to give the user feedback on running style – instead of simply using GPS data to tell a user how far they’ve run.

The upshot is that Milestone is able to use its analytics platform to tell a user how to improve their run and diagnose problems rather than simply telling a user how far they’ve run.

Milestone has also opened the system up to retailers, meaning they will have insight into when a user may potentially need a new pair of running shoes – giving the retailer another shot at creating a loyal customer rather than losing them entirely after the first transaction.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X