G Medical Innovations Holdings to offer 5M shares in IPO

G Medical Innovations Holdings (GMVD) to raise up to $30M in IPO by offering 5M shares at anticpitaed price range of $5 to $7.

Underwriters' over-allotment is an additional 750K shares.

G Medical Innovations is an early commercial stage healthcare company developing mobile health (mHealth) and telemedicine solutions and monitoring service platforms. Its current product offerings include Prizma medical device, a clinical grade device used to transform smartphones into medical monitoring devices, and Extended Holter Patch System, a multi-channel patient-worn biosensor that captures electrocardiogram data continuously for up to 14 days. The company is also developing a Wireless Vital Signs Monitoring System.

” With the growing penetration of smartphones and internet connectivity, the adoption of mHealth technologies by physicians and patients has increased considerably. According to research by Grand View Research, the global mHealth market size was valued at $40.7B in 2019 and is estimated to reach $316.8B by 2027, growing at a compounded annual growth rate (or CAGR) of 29.2% over the forecast period from 2020 to 2027. In addition, according to a report published by Grand View Research in March 2019, the “internet of things” (or IoT) healthcare market (meaning the market for interrelated computing devices and mechanical and digital machines targeting healthcare such as our products) is projected to reach $534.3B by 2025. We believe that a rising adoption of wearable technology and a growing geriatric population coupled with the rising prevalence of chronic conditions are among the key factors driving the market expansion. mHealth is also projected to have the highest impact on reducing costs associated with readmissions in hospitals,"says company.