- G Medical Innovations (GMV) has requested two consecutive trading halts while it plans and executes a capital raise
- The medical device company will remain in the halt until August 11 or when the announcement is made, whichever occurs first
- Over the last few months, G Medical received TGA approval for its G Medical Holter patch and partnered with HomeStay Care to provide its remote vital signs monitoring platform to the elderly
- Shares in G Medical last traded for 6.3 cents on August 4
G Medical Innovations (GMV) has requested two consecutive trading halts while it plans and executes a capital raise.
The medical device company will remain in the halt until August 11 or when the announcement is made, whichever occurs first.
G Medical has had a busy couple of months, receiving TGA approval for its G Medical Holter patch, implementing its Independent Diagnostic Testing Facilities in four U.S. university hospitals, and partnering with Homestay Care (HSC).
G Medical last entered a trading halt in mid-May when it announced that its VSMS ECG Patch had been given Emergency Use Authorisation (EUA) for patients being treated for COVID-19 in the U.S.
The patch remotely monitors the QT interval of an ECG (electrocardiography) in patients who are undergoing treatment for COVID-19 with drugs that can lengthen the intervals.
Simply, the QT interval represents the time taken for the heart to contract and then relax — lengthened intervals can outline rhythm disorders in the heart, which can potentially lead to fainting, seizures, or sudden death.
Data from the patch is then recorded and transmitted to G Medical call centres for remote analysis.
The company believes this patch may be effective in monitoring COVID-19 patients and could reduce the risk of a healthcare professional’s exposure to the virus.
Shares in G Medical last traded for 6.3 cents on August 4.