Los Angeles, CA, June 07, 2023 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV), an industry leading medical technology company, is working with a prominent developer of telehealth (telemedicine) platforms to establish a new telehealth division for Endonovo.
“Endonovo’s Telehealth Division is expected to provide additional revenue and provide cost savings to the Company and its customers of the platform. As Endonovo establishes itself in the MedTech healthcare industry, it will seek out other medical device and pharmaceutical companies to generate additional revenue streams. Upon reaching revenue milestones, we believe we can spin-off the Telehealth Division as a MedTech company to a major stock exchange,” according to Alan Collier, CEO.
Ira Weisberg, President of Medical Division further added: “The collaboration aims to modernize the healthcare industry by leveraging advanced medical technology and digital solutions to provide accessible and efficient healthcare services to a wider population. With Endonovo's expertise as a developer of healthcare technology and our future telehealth developer's extensive experience in telemedicine, this strategic partnership is poised to create a platform that seamlessly integrates telehealth services into the mainstream healthcare system.”
Forging Strategic Partnerships for Success
Weisberg pointed out: “By Endonovo developing and utilizing a complete telehealth platform, we are positioning Endonovo to become a leader in the evolving telehealth healthcare landscape. Incorporating a telehealth division into the current Company structure will be instrumental in shaping Endonovo's telehealth strategy, ensuring the delivery of cutting-edge solutions that meet the evolving needs of patients and healthcare providers. This will allow us to leverage innovative solutions to expand our market reach and provide accessible, high-quality care to a wider patient population.”
In making the announcement, Weisberg explained: "Endonovo’s announcement to incorporate telehealth services into our Company offerings represents a pivotal step forward towards driving growth, achieving cost savings, and enhancing patient satisfaction in the medical market. We are confident that our telehealth platform will generate significant revenue opportunities but also solidify our commitment to delivering exceptional pain and inflammation healthcare solutions and experiences for patient accessing our platform."
Global Telehealth Market is Growing Rapidly
Telehealth services are a rapidly growing technology within the MedTech healthcare industry. The telehealth market has experienced a surge in growth as a result of the COVID-19 pandemic. According to a recent report by Reportlinker.com titled: "Global telehealth Industry", the global market for telehealth is projected to reach $723.3 billion by 2030, with a CAGR of 23% from 2022 to 2030. The software and services segment is expected to record a CAGR of 21.1%, reaching $462.8 billion by the end of the analysis period. The pandemic and recent expansion of medical services has served as a catalyst for telehealth growth as patients seek alternative ways to access healthcare services amid restrictions on in-person visits.
Telehealth Expansion Opportunities for SofPulse® PEMF
The rise of telehealth and digital health technologies has opened new opportunities for healthcare providers to improve patient healthcare access and reduce costs by reaching patients in remote or underserved areas. In the rapidly evolving landscape of healthcare, the integration of telehealth solutions presents opportunities to enhance access to medical services and improve patient outcomes.
Endonovo’s SofPulse® Pulsed Electro Magnetic Field (PEMF) Therapy -- which can be used to treat pain and inflammation as a cost-effective and patient-friendly therapy -- can expand exponentially through telehealth direct to consumer sales. By leveraging the power of telecommunication and digital platforms, telehealth eliminates geographical barriers, bringing medical expertise directly to patients through virtual consultations, remote monitoring and personalized care plans.
Patients will have the opportunity to call into the telehealth system and speak to an MD regarding a health condition that could be treated or have benefits in utilizing SofPulse® PEMF system. This transformative approach enhances convenience and affordability. It also provides tremendous potential to improve overall healthcare delivery, empower patients and drive positive outcomes ensuring that their healthcare needs are met effectively.
About Endonovo Therapeutics, Inc.
Endonovo Therapeutics is currently structured into two divisions: Legacy – a commercial-stage developer primarily of noninvasive wearable Electroceuticals® therapeutic devices for pain relief, general wellness and wound curatives with many of its products marketed under the SofPulse® brand name; and its Build Up Strategy – acquiring complementary specialty service providers of profitable biotechnology and specialty construction companies.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate", "believe", "plan", "estimate", "expect", "intend" and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Relations Contact:
Endonovo Therapeutics, Inc.
Steve Barnes
(800) 701-1223 Ext. 108
sbarnes@endonovo.com
www.endonovo.com
Media Contact:
Gregory A. McAndrews
Greg McAndrews & Associates
(310) 804-7037
greg@gregmcandrews.com
