Big Changes are Coming to Healthcare Thanks to Augmented Reality
Palm Beach, FL – January 28, 2020 – Augmented reality is having a profound impact on the healthcare industry, especially medical training. Not only can it bring 3D anatomical learning to life, as noted by medical device company, Proximie, it can help train nurses and doctors in complex situations. Better, according to Fortune, AR can used by surgeons to alert them to potential risks or hazards in surgery. It can even be used to find patient veins and avoid accidentally sticking a patient far too many times. As such innovation is improved, the global augmented reality market in healthcare is expected to reach $10.82 billion by 2025 – a growth rate of 36.1% between 2019 and 2026, according to Research and Markets. All of that is creating sizable opportunity for companies including NexTech AR Solutions (OTCQB: NEXCF)(CSE: NTAR), Intuitive Surgical Inc. (NASDAQ:ISRG), Abiomed Inc. (NASDAQ:ABMD), Thermo Fisher Scientific Inc. (NYSE:TMO) and Abbott Laboratories (NYSE:ABT).
NexTech AR Solutions (OTCQB: NEXCF)(CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, the leader in augmented reality (AR) for eCommerce and AR learning applications announced a new partnership with Jolokia, a leading enterprise video platform provider to the healthcare industry. This partnership will expand Nextech’s reach into the L&D market which was estimated at $366.2 billion, according to Statista. Jolokia has joined forces with NexTech AR, to offer a compelling video learning experience (LXP) that crosses the boundaries from interactive video to Augmented Reality (AR). Pete Mastin, CEO of Jolokia comments, “We are very excited to partner with NextTech AR, a leader in the AR space. We believe the combination of Interactive video and AR will create a new generation of L&D products that will gamify the learning experience in a way that has not been seen before. With the addition of Nextech’s AR our platform called Inferno is now the world’s most advanced Video Learning Experience Platform (LXP) with Interactive Video, Artificial Intelligence, and AR enterprises now have the ability to create the world’s most engaging learning experiences anywhere”.
Evan Gappelberg CEO of NexTech commented “With our state of the art AR combined with Jolokia best of breed video learning experience platform, we have the potential to transform the $366 billion corporate training market. Over the coming weeks, Jolokia will be showcasing the new AR capabilities to its significant list of clients including many fortune 100 companies. In the next few years as AR learning starts to accelerate its going to completely change the way employees learn on the job.”
Other related developments from around the markets include:
Intuitive Surgical Inc. (NASDAQ:ISRG) announced announced financial results for the quarter ended December 31, 2019. Reported revenue and procedure results are consistent with the Company’s press release on January 9, 2020. Worldwide da Vinci procedures grew approximately 19% compared with the fourth quarter of 2018, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures; The Company shipped 336 da Vinci Surgical Systems, an increase of 16% compared with 290 in the fourth quarter of 2018; The Company grew its da Vinci Surgical System installed base to 5,582 systems as of December 31, 2019, an increase of 12% compared with 4,986 as of the end of the fourth quarter of 2018; Fourth quarter 2019 revenue of $1.28 billion grew 22% compared with $1.05 billion in the fourth quarter of 2018; Fourth quarter 2019 GAAP net income was $358 million, or $2.99 per diluted share, compared with $293 million, or $2.45 per diluted share, in the fourth quarter of 2018; Fourth quarter 2019 non-GAAP* net income was $417 million, or $3.48 per diluted share, compared with $353 million, or $2.96 per diluted share, in the fourth quarter of 2018.
Abiomed Inc. (NASDAQ:ABMD) announced preliminary, unaudited, third quarter fiscal 2020 revenue of approximately $221.6 million, an increase of 10% compared to revenue of $200.6 million for the same period of fiscal 2019. Abiomed had a strong start to the quarter across all geographies, highlighted by 24% global revenue growth and 16% growth in U.S. patient usage in October; Preliminary unaudited total U.S. revenue grew 8% to $185.6 million from $172.6 million in the prior fiscal year. U.S. patient usage grew 5% in comparison with the same period of fiscal 2019; Outside the U.S., total revenue for the quarter totaled $36.0 million, an increase of 29% compared to revenue of $28.0 million during the same period of fiscal 2019, due to strength in Germany and Japan; In the quarter, the company was negatively impacted by two presentations at a conference on November 17, which the company believes are based on misleading analyses.
Thermo Fisher Scientific Inc. (NYSE:TMO) released the Thermo Scientific NanoDrop QC Software for the Thermo Scientific NanoDrop OneC Spectrophotometer. Combined with the new software, the ultraviolet-visible (UV-Vis) microvolume spectrophotometer is designed to help materials science chemists quickly and accurately measure the concentration of different components that make up liquid samples, leading to higher productivity and lower costs. The NanoDrop OneC Spectrophotometer automatically shortens pedestal pathlengths based on sample absorbance, allowing customers to measure highly concentrated samples without the need for dilution. This improvement will help save time during sample preparation and reduce the cost of using and disposing of large quantities of solvents needed to dilute samples. The NanoDrop QC Software natively runs chemometric methods, allowing materials scientists to obtain results of chemometric analysis in as little as 10 seconds. Once a spectroscopist develops the method, technicians can gather the data and complete the analyses, opening liquid chemical quality assurance techniques to a broader spectrum of users. “The NanoDrop OneC is poised to save industrial customers an enormous amount of time,” said Karnel Walker, global business director of UV/Vis spectroscopy at Thermo Fisher Scientific. “With the ability to quickly verify the quality of their samples, spectroscopists may spend less time on data analysis and more time on method development.”
Abbott Laboratories (NYSE:ABT) announced it received approval from the U.S. Food and Drug Administration (FDA) for a new, expanded indication for the company’s Infinity™ Deep Brain Stimulation (DBS) system to include targeting of an area of the brain called the internal globus pallidus (GPi). The GPi plays an integral role in the motor function and can be targeted with DBS to improve the symptoms of Parkinson’s disease not adequately controlled by medication. With this approval, Abbott’s Infinity DBS is now the only directional DBS system approved for all major targets used to treat movement disorders, Parkinson’s disease and Essential Tremor: the subthalamic nucleus (STN), ventral intermediate nucleus (VIM) and GPi. It is the world’s first and only DBS system operating in these indications on an iOS software platform with Bluetooth®wireless technology. Clinicians can streamline the programming process with an iPad mini device using Abbott’s new Informity™ Programming feature to become more efficient in their practice and achieve optimal outcomes with directional leads. Patients can discreetly manage their symptoms with their Infinity DBS System iPod touch controller.
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