Bionovate supports startups in the digital health markets
CHAM: Bionovate Technologies Corp (OTCMKT: BIIO) (“Bionovate”), is currently in the process of compiling a shortlist for potential investments in start-ups in the digital healthcare markets, as announced. The COVID-19 pandemic has accelerated the digital transformation of the healthcare market and launched numerous innovative start-ups.
One of the key drivers is the growing willingness of patients to participate in managing their own diseases and improving their lifestyles. Major pharmaceutical companies, payers and insurance companies have now recognized the business benefits of patient engagement and are investing heavily in mobile applications. Rising smartphone penetration and integration of advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), and increasing implementation of mHealth technologies for self-management of chronic diseases, such as diabetes, are some of the key factors driving the market. Moreover, the hardware segment and sensor market is also driven by the latest technological advancements in manufacturing techniques and miniaturization.
Bionovate is also looking at the possibility of taking promising startups public via SPACs. Bionovate has a lot of experience and brings together the partners needed for such a transaction. The startup has the advantage of accessing fresh capital without having to comply with the strict rules of a normal IPO.
