CardieX’s inHealth medical services deliver rapid gain in just five months

• CardieX has reported rapid growth from its US inHealth Medical Services.
• inHealth practitioner sessions have increased by five times since signing the contract earlier this year with Anthem and American Well.
• Anthem practitioner sessions have reached 1300 in just 5 months, and inHealth’s revenue in April was more than US$60,000.
• CardieX has assisted in the hiring of a new Sales Representative to focus on private contracts and partnerships.

Australian digital health technology company CardieX Limited has reported rapid growth generated by its US subsidiary inHealth Medical Services.

inHealth signed significant multi-year contracts with Anthem, the largest health insurance provider in the United States and American Well, a leading United States telemedicine provider.

CardieX has reported since December last year, inHealth practitioner sessions have increased by five times and inHealth Anthem practitioner sessions have increased from zero to over 1300 in five months.

Through the Anthem network and private practitioners combined, CardieX has seen growth from 650 total sessions in January 2019 to 1626 total sessions in April 2019, and the company says growth has continued in the month of May. inHealth’s revenue in April was more than US$60,000.

In line with this, CardieX has assisted in hiring a new direct Sales Representative to focus on Private Practice business contracts and partnerships. The company said this is expected to drive additional growth along with inHealth’s corporate partnerships.

CardieX CEO Craig Cooper said he couldn’t be happier with the team at inHealth.

“Since our investment we have seen solid incremental growth in practice and corporate telehealth sessions which are consistent with the operating and financial plan of the business for the year. Not only are we on plan for the year but we have also increased our forecasts internally based on current projections,” he said.

CardieX specialises in developing digital and device-based solutions for common health disorders, and is a world leader in measuring ‘central blood pressure’, which can be crucial in managing hypertension and related cardiovascular disorders.

inHealth specialises in telehealth services — methods of delivering crucial health information over long and short distances via information and communication technology, eliminating the need to move patients or practitioners.

In November 2018, CardieX signed an agreement with inHealth to earn up to 50.5 per cent of the company by way of a convertible note.

As at 1:30pm AEST, CardieX shares have increased 6.25 per cent and are trading at $0.034.