Dr. Yacov Geva is on a mission to transform the practice of medicine. Dr. Geva is the President/CEO of G Medical Innovations Holdings Ltd. His company manufactures and distributes medical self-testing devices and telehealth remote patient monitoring systems for patients, doctors and medical providers. The company launched an IPO on June 28, 2021 (NASDAQ: GMVD).
Dr. Geva’s paradigm is his medical self-testing device, “Prizma.” The Prizma is a small testing device cleverly designed to serve a dual function as a cell phone case. Since the testing apparatus integrated into the case requires an interface with a patient’s cell phone to store and share data, the case configuration is an engineering marvel. But the phone doesn’t have to be in the case for the Prizma to perform tests since they communicate via Bluetooth.
The Prizma, in its current configuration, takes five key cardio-related measurements:
- Heart Rate
- Body Temperature
- Blood Oxygenation
- Stress Indicators
The data is then made immediately available to the patient’s physician, who can compare it to previous readings and contact the patient directly if warranted.
The Prisma software also integrates body weight, blood pressure and blood glucose data with the above five cardio-related measurements. Currently, the patient has to obtain these three additional values through some other means and then enter them manually into the Prizma system.
The Prizma, in its current configuration, is a special tool for congestive heart failure patients. A physician can get a quick real-time snapshot of their patient’s condition, especially when integrated with body weight, blood pressure and glucose. But Prizma’s applications in the medical marketplace go well beyond congestive heart failure patients. Collecting and tracking these data points is valuable for anyone concerned about cardiovascular health.
G Medical Innovations is about to double down on its cutting-edge testing device with the launch of Prizma 2.0, slated for release in mid-2023. The upgraded Prizma will add to their current testing capabilities, including:
- Blood Pressure
- Blood Glucose
- Blood Lipids
- Uric Acid
The upgraded Prizma will incorporate a feature that captures a drop of the patient’s blood. Once you have access to a patient’s blood, you can obtain enormous information about that person’s current health condition. Professional medical testing labs that test blood serum samples offer over 2,000 tests. So, with the upgraded Prizma, the sky is the limit.
The medical community has responded enthusiastically to the Prizma. It creates both medical and economic efficiencies. Health insurance providers are also on board, with over 150 companies paying patient claims for the Prizma.
G Medical Innovations also offers a line of medical home testing kits. These testing kits allow a person to test themselves in the comfort and privacy of their homes, rather than traveling down to the hospital or to a testing lab and sitting in a waiting room with a group of people, waiting to be called and tested.
The company’s kits include the obvious viral tests, such as HPV, Covid19 and monkeypox. They also have tests for an assortment of other important health measurements. For example, they have tests for food sensitivities and allergies, a kit for testosterone levels and another test for mother’s milk. You can also test for sexually transmitted diseases, thyroid function, and HbA1C (hemoglobin). They have a list of additional tests in the pipeline.
Their operational model is simple and affordable. The kits are available online and in select stores and pharmacies. The company provides a prepaid mailer with the kit. Once the test is concluded, it is FedExed to their lab in California. Within 24 hours after receiving the mailer, the company emails the results to the patient. Traditional lab tests, by contrast, typically take two weeks for results and can cost as much as $1000. G Medical’s kits start at $50.
G Medical is also positioned to serve more than 50 million Americans without health insurance. These people can buy the device and then connect with the company’s call center for a monthly fee. So, it’s almost like having a doctor in their pocket and a mini-lab, which should reduce the number of unnecessary visits to emergency rooms.
In the post-pandemic social and economic climate, G Medical Innovations appears well-positioned to benefit from the current trend toward telemedicine and do-it-yourself testing. Moreover, with patent protection on their Prizma, they appear to be poised to make a significant run.