Modern Mobility Aids Inc. (OTC:MDRM) Stock In Focus After Recent News
A number of companies have come into the news cycle for one reason or another over the course of the week so far, and it could be a good idea for investors to take a look into some of those. One of the companies that one could look into is Modern Mobility Aids Inc. (OTC:MDRM), a leading player in the telehealth industry, which made a key announcement on October 29.
At the time, the company announced that it had appointed a new president in the form of Dr. Zakiuddin Ahmed. In the news release, the company described Dr. Ahmed as a noted visionary among healthcare entrepreneurs and physician advocates. Modern Mobility Aids also noted that it was thrilled to have added him to its management team. The company noted that Dr. Ahmed brought considerable expertise to the role and would play a major part in transforming the future of healthcare through the deployment of technology. He is a leader who is recognized internationally and is particularly well-known for having been able to create partnerships and collaborations.
Additionally, he had also worked on the development of innovative and sustainable solutions in the healthcare sector, with a special focus on patient-centric outcomes. The news release went on to note that the areas in which he specialized included physician entrepreneurship, medical ethics, eHealth, patient safety, mHealth, digital health, healthcare quality, health research, telemedicine, and healthcare leadership. The Chief Executive Officer of the company, Tito DiMarco, spoke about the appointment as well. He noted that everyone at the company was excited at the arrival of Dr. Zakiuddin.
DiMarco added that the expertise he possessed in the improvement of healthcare through technology was perfectly aligned with the vision of Modern Mobility Aids as a company. He went on to note that the appointment marked a major new milestone in the company’s journey of bringing about paradigm shifts in the healthcare space through telehealth.
On July 10, the CEO of the company provided an update to the shareholders on some of the initiatives that it had undertaken in 2023 up until then. It was announced that Modern Mobility had been working on the development and expansion of the Galileo Life Sciences unit based out of Ontario. It was revealed that it owned 100% of Galileo. It was also noted that the company’s Smart Health platform included both easy care as well as specialty care. It was revealed that the expansion had allowed the company to take care of the varied needs of its patients.
Another key update from the company was that it had received highly positive feedback from patients pertaining to its telehealth services. The company noted that the quality of care, convenience, and accessibility of treatment for the patients had resonated as well. Modern Mobility also announced that it had continued to work with its partners to boost its telehealth infrastructure. The company also noted that it was working on a large number of important partnerships in this particular area throughout 2023. The company also noted that the telehealth industry was poised for considerable growth. It referred to forecasts that pegged the industry at $200.53 billion by 2028 and that worked out to a CAGR of 38.9% from 2022 to 2028.
