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Intuitive Surgical and InTouch Collaborate for IoMT Services
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Intuitive Surgical, Inc. (ISRG - Free Report) recently announced a multi-year licensing service agreement with InTouch Health. Per Intuitive Surgical’s management, the collaboration will enable Intuitive Surgical's Internet of Medical Things (IoMT) to connect to thousands of da Vinci surgical systems in medical institutions around the world on a single global network.
This will expand Intuitive Surgical’s use of real-time data for better patient outcomes.
Notably, InTouch Health is a California-based telehealth services company that offers reliable, dedicated cloud-based network and virtual care solutions to medical companies. Thus, the latest development is likely to enable Intuitive Surgical to connect directly to its surgical systems worldwide to exchange real-time data for enhanced clinical insights.
What is IoMT?
IoMT refers to the connected system of medical devices and applications. It collects patient data and transfers it to healthcare IT systems through online computer networks. It monitors, informs and notifies both care givers and healthcare providers with actual data to identify issues before they get critical.
Notably, cloud-based systems are cost effective and wearable medical devices have also become increasingly accessible. Thus, IoMT is poised to transform the healthcare industry.
Per a study by Allied Market Research, the global Internet of Things healthcare market is expected to reach $136.8 billion by 2021, at a CAGR of 12.5%. Hence the latest move is a well-timed one for the California-based MedTech giant.
IoMT & Healthcare
Tech behemoth Apple Inc. (AAPL - Free Report) recently unveiled its next generation Apple Watch Series 4 that captures an electrocardiogram (ECG) and automatically calls emergency services. Interestingly, the device received a FDA nod which makes it the first ECG product available over-the-counter which can also be used as a medical device.
Furthermore, Masimo Corporation’s (MASI - Free Report) Radius-7 is a wearable device that can record changes in respiration as well as connectivity platforms such as Root, a patient monitoring and connectivity tool. The Root transfers the information directly to Electronic Health Record.
Price Performance
Shares of Intuitive Surgical have rallied 64.2% against the industry’s 27.7% rise in a year’s time. The current level is also higher than the S&P 500 index’s 17.8% rise.
The company’s long-term earnings growth is projected at 10%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Intuitive Surgical and InTouch Collaborate for IoMT Services
Intuitive Surgical, Inc. (ISRG - Free Report) recently announced a multi-year licensing service agreement with InTouch Health. Per Intuitive Surgical’s management, the collaboration will enable Intuitive Surgical's Internet of Medical Things (IoMT) to connect to thousands of da Vinci surgical systems in medical institutions around the world on a single global network.
This will expand Intuitive Surgical’s use of real-time data for better patient outcomes.
Notably, InTouch Health is a California-based telehealth services company that offers reliable, dedicated cloud-based network and virtual care solutions to medical companies. Thus, the latest development is likely to enable Intuitive Surgical to connect directly to its surgical systems worldwide to exchange real-time data for enhanced clinical insights.
What is IoMT?
IoMT refers to the connected system of medical devices and applications. It collects patient data and transfers it to healthcare IT systems through online computer networks. It monitors, informs and notifies both care givers and healthcare providers with actual data to identify issues before they get critical.
Notably, cloud-based systems are cost effective and wearable medical devices have also become increasingly accessible. Thus, IoMT is poised to transform the healthcare industry.
Per a study by Allied Market Research, the global Internet of Things healthcare market is expected to reach $136.8 billion by 2021, at a CAGR of 12.5%. Hence the latest move is a well-timed one for the California-based MedTech giant.
IoMT & Healthcare
Tech behemoth Apple Inc. (AAPL - Free Report) recently unveiled its next generation Apple Watch Series 4 that captures an electrocardiogram (ECG) and automatically calls emergency services. Interestingly, the device received a FDA nod which makes it the first ECG product available over-the-counter which can also be used as a medical device.
Furthermore, Masimo Corporation’s (MASI - Free Report) Radius-7 is a wearable device that can record changes in respiration as well as connectivity platforms such as Root, a patient monitoring and connectivity tool. The Root transfers the information directly to Electronic Health Record.
Price Performance
Shares of Intuitive Surgical have rallied 64.2% against the industry’s 27.7% rise in a year’s time. The current level is also higher than the S&P 500 index’s 17.8% rise.
The stock currently has a Zacks Rank #2 (Buy).
Another Key Pick
Another top-ranked stock in the broader medical space is Surmodics, Inc. (SRDX - Free Report) , with a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The company’s long-term earnings growth is projected at 10%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>