Internet of Things Spurs All Sorts of Investment Opportunities

The Internet of Things (IoT) continues to evolve as businesses in all sectors are taking advantage of the solutions and applications that can make their operations run more smoothly. From the birth of IoT is IoMT, which is the Internet of Medical Things.

Over the past few years, there has been a surge in the number of healthcare providers that are taking advantages of the solutions from IoMT. At the forefront of many of these IoMT strides are small, privately-held companies. Many of their inventions are cutting edge, which could make them excellent takeover targets by larger, publicly-traded companies.

We’ll review some of these privately-held companies in this piece. We’ll also touch on how these companies are using the technologies developed by larger, more established companies to help their own products work.

 

 · What does IoMT entail?

 

The IoMT entails collecting medical and patient information from medical devices and uploading that data into a cloud platform. In addition to medical devices, applications are used in conjunction with online networks to connect healthcare IT systems, as explained by Intersog.com.

These medical devices typically run on Wi-Fi to ensure that the connection to other devices is as seamless as possible. The IoMT also often entails the use of cloud services where the data collected from the devices is stored. And there’s security, which is important given the many regulations that govern healthcare providers to make sure that patient records are protected and private.

Therefore, the companies that provide any of these services stand to gain just as much as the developers of the products. Keep an eye on how wireless providers like AT&T (NYSE: T) and Verizon (NYSE: VZ) participate in the IoMT space. Amazon, Microsoft and Salesforce could see their revenue streams from their cloud services receive a boost if they make strides in penetrating the IoMT markets. And companies that provide Internet security solutions, such as Palo Alto, can also benefit from working with the developer of some of these medical devices.

 

 · Smart pill bottles

 

There are a host of products that consumers use in their everyday lives that have been enhanced thanks to IoMT solutions. This includes pill bottles that could be the solution to one of the most aggravating situations faced by healthcare providers. Called medication adherence, healthcare providers have said that the incidences of patients forgetting to take their medicines as prescribed continues to be a growing health concern.

To answer this problem, a privately-held company called AdhereTech, has developed a pill bottle that helps patients remember to take their prescribed medicines.

AdhereTech’s smart wireless pill bottles are built with cellular technology and numerous sensors. These bottles collect and send adherence data in real-time to AdhereTech’s servers where it is automatically analyzed and populated on the company’s secure dashboard. If doses are missed, AdhereTech’s system can notify the patient via automated phone calls and/or text messages.

AdhereTech’s pill bottles are currently only being used by patients in pharmaceutical and research trials.

Considering AdhereTech’s pill bottles depend on wireless connections, it must have the help of wireless providers. Wired has reported that the company was in the process of setting up contracts with a wireless provider, as well as a cloud service provider, such as Amazon.

 

 · IoMT helping to fight smoking addiction

 

Another example of the breadth of the use of the IoMT, are companies whose wearable devices are being aimed at combating addictive behaviors. One such device, called SmartStop, is a wearable that offers programmable, transdermal nicotine replacement therapy in combination with real-time behavioral support, according to the device’s developer, Chrono Therapeutics.

The company points to research that shows that smokers have clear, consistent and predictable daily peak nicotine craving patterns. Chrono Therapeutics boasts that SmartStop is designed to automatically vary nicotine levels throughout the day to match those patterns. The device uses Bluetooth technology to wirelessly communicate with the SmartStop behavioral support mobile app, providing real-time guidance to help smokers cope with cravings as well as a means for promoting compliance to the NRT and overall quit process.

Just as with AdhereTech’s smart wireless pill bottle, SmartStop’s reliance on players that offer wireless and cloud services, as well as Internet security solutions, can benefit for having their applications used with this device that was created through the IoMT.

 

 · The future

 

I expect to see more and more versions of IoT, such as IoMT, come to light. It’s being said repeatedly how the Internet is becoming a daily, integral part of our lives. As an investor, look for these small companies that are privately-held companies based on the significance of their creations. Also watch the larger publicly-traded companies to up their game by creating competitng products, or simply acquiring the “little guy.”





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