Galileo Life Sciences Inc. (OTC:MDRM) Q2 2021 Provides Progress with Telehealth
Galileo Life Sciences has positioned itself at the forefront of the telehealth industry by offering robust solutions that integrate advanced technology for real-time patient monitoring. The company aims to expand globally with virtual clinics, particularly in regions like India, Pakistan, and Colombia. The global telemedicine market is projected to reach USD 298.9 billion by 2028, with a CAGR of 22.4%. This growth is driven by rising chronic illnesses and the need for cost-effective healthcare solutions.
- Galileo Life Sciences is establishing a unique telehealth platform that integrates medical devices for real-time monitoring of patient vitals.
- The company's planned expansion into international markets signifies potential growth opportunities.
- The telemedicine market is projected to reach USD 298.9 billion by 2028, indicating a favorable industry outlook.
- Investment into telehealth services is speculative and associated with risks such as market conditions and competition.
Formerly Known as "Modern Mobility Aids Inc."
TORONTO, June 17, 2021 (GLOBE NEWSWIRE) -- via Investor Wire--
Innovations in Telehealth Technological have gifted healthcare providers with superior technology, allowing them to diagnose, treat and monitor the state of their patients with greater efficiency. It is these innovations that spur growth in the global telemedicine market. As a result of COVID-19, many healthcare providers and patients have had a dire need for telehealth technology, and these technologies have become more accepted and integrated into healthcare.
Video conferencing - the key tool in most telehealth technologies - limits the ability of physicians to check the patients' vitals, and therefore the physician has no option but to rely on the patient’s input. Galileo Life Sciences, through its partnerships with various technology organizations, has established a unique platform that is connected with medical devices which enable physicians to check patients' vitals in real time, without affecting quality of care.
The Medical Director for Galileo Life Sciences, Gilbert Sharpe, has stated: "I strongly believe that establishing a chain of virtual clinics as the backbone of our offering, will uniquely position Galileo as a full-service telehealth Company. We are able to offer patients the option to seek treatment via a video call, attend a virtual clinic for a more thorough examination, or request a house call by one of our nurse practitioners who will bring the doctor to you via our home care devices. The clinics will be located in pharmacies or near pharmacies thus providing a patient a one stop doctor's visit to get the prescription filled."
In addition to its efforts in Ontario, Galileo believes a robust market for telehealth exists globally and is in advanced discussions with organizations in India, Pakistan, and Colombia to establish clinics. Further details about these agreements will follow come July.
Global Telehealth Market:
According to a new report by Grand View Research, the global telemedicine market is set to reach USD 298.9 billion by 2028, with an expected CAGR of
The main drivers of this market are the rising cases of chronic illness and the rising need for self-care. Many of the costs involved in this market will be alleviated by evolving internet applications, virtual healthcare and a need for centralization of healthcare. Lower costs incurred is a major predictor of success in any market.
About Galileo Life Sciences, Inc.
Galileo Life Sciences, Inc. is a company strategically focused on the telehealth and telemedicine industry and is planning to offer services on a global scale. The company is dedicated to offering the most robust telehealth platform incorporating AI and IOT so that anyone can get access to quality healthcare regardless of location and financial status. The company is committed to providing healthcare to those who cannot afford it. The Galileo Smart Clinics with integrated medical devices make this company unique, separate from the rest in the field. With Galileo Life Sciences, physicians can get direct access to the patient's vitals and examine the patient in real-time without affecting the quality of care.
Forward-looking Statements
This press release may contain information that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws (collectively, "Forward-looking Statements"). All information contained herein that is not clearly historical in nature may constitute Forward-looking Statements. In some cases, Forward-looking Statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify Forward-looking Statements. There are no guarantees or assurances that expansion in leadership will result in the hopes the company has mentioned here. Any investment made into Modern Mobility Aids, Inc., would be classified as speculative and risky. Such risks and uncertainties include, but are not limited to: market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws, and other risks and uncertainties further stated in the company's financial reports and filings. Any Forward-looking Statement included in this press release is made as of the date of this press release and, except as required by law, Galileo Life Sciences Inc. and Modern Mobility Aids Inc. disclaim any obligation to update or revise any Forward-looking Statement. Readers are cautioned not to put undue reliance on any Forward-looking Statement.
For further information, please contact:
Tito DiMarco
President, Galileo Life Sciences Inc.
tdimarco@mdrminc.com
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