Health Tech Stocks Lined Up to Own the New Bull (WW, GDRX, HIMS, TDOC, MGRX, AMWL)

The health technology space is growing rapidly, driven by a number of factors, including the COVID-19 pandemic, the aging population, and the increasing adoption of mobile devices.

The COVID-19 pandemic has accelerated the adoption of telehealth by making it a more viable option for patients and providers alike. During the pandemic, many people were hesitant to go to the doctor's office for fear of contracting the virus. Telehealth allowed them to receive care without having to leave their homes.

The aging population is another factor driving the growth of telehealth. As the population ages, there will be a greater demand for healthcare services. Telehealth can help to meet this demand by making it easier for older adults to access care.

The increasing adoption of mobile devices is also contributing to the growth of telehealth. More and more people are using smartphones and tablets to access the internet. This makes it easy for them to connect with providers for telehealth appointments.

The telehealth space is still in its early stages, but it has the potential to revolutionize the way healthcare is delivered. By making it easier for patients to access care, telehealth can improve access to healthcare, reduce costs, and improve patient outcomes.

Stocks in the space have been sharply outperforming the broad market, and this set of catalysts likely explains that momentum. The following are some of the key growth prospects for the telehealth space:

• Increasing demand for healthcare services: As the population ages and becomes more chronic, there will be an increasing demand for healthcare services. Telehealth can help to meet this demand by making it easier for people to access care.
• Rising healthcare costs: The cost of healthcare is rising, and telehealth can help to reduce costs by providing an alternative to in-person visits.
• Improved patient outcomes: Telehealth can improve patient outcomes by providing more convenient and accessible care.
• Increased patient satisfaction: Telehealth can increase patient satisfaction by providing a more convenient and personalized care experience.

The telehealth space is poised for significant growth in the coming years. The factors listed above are just a few of the reasons why telehealth is becoming increasingly popular. As the industry continues to grow, it will have a major impact on the way healthcare is delivered.

We take a closer look at some of the more interesting names in the space below.

WW International Inc (NASDAQ:WW) engages in the provision of weight management services. It operates through the following geographical segments: North America, United Kingdom, Continental Europe and Other.

The North America segment consists of United States and Canada company-owned operations. The United Kingdom segment includes United Kingdom company-owned operations. The Continental Europe segment consists of Germany, Switzerland, France, Spain, Belgium, Netherlands, and Sweden company-owned operations. The others segment offers Australia, New Zealand company-owned operations, as well as revenues and costs from franchises in the United States.

WW International Inc (NASDAQ:WW) recently announced that it has entered into a definitive agreement to acquire Weekend Health, the corporate name of Sequence. Clinicians use the platform to provide clinical care, including prescriptions, for patients navigating chronic weight management. Sequence also claims to help patients traverse the insurance approval process.

"As we build out our clinical weight management pathway, we will be learning and likely tailoring our nutrition program for this distinct member journey," said Gary Foster, Ph.D., chief scientific officer at WeightWatchers, in a press release. "We know weight management isn't one-size-fits-all and clinical interventions are not medically or otherwise appropriate for everyone, which is why we remain committed to all pathways."

WW International Inc (NASDAQ:WW) will acquire Sequence in a cash and equity transaction valued at $132 million, inclusive of a minimum of $26 million of Sequence's cash. The effective net purchase price is $106 million.

WW managed to rope in revenues totaling $223.9M in overall sales during the company's most recently reported quarterly financial data — a figure that represents a rate of top line growth of -18.8%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($178.3M against $196.6M, respectively).

Mangoceuticals Inc (NASDAQ:MGRX) is another up-and-coming growth name in the space. The company is focused on developing, marketing and selling a variety of men's health and wellness products via a secure telemedicine platform, including its uniquely formulated erectile dysfunction (ED) drug branded "Mango."

MGRX recently announced that it has commenced an online sales campaign with DojoLabs Group, Inc. ("DataDojo"), utilizing their proprietary Customer Data Platform ("CDP"), and an AI powered, deep learning identification, segmentation, and conversion optimization technology, and a database of over 240 million U.S. consumer profiles used to identify and acquire online customers.

Mangoceuticals Inc (NASDAQ:MGRX), per the terms of a consulting agreement entered into with DataDojo on January 3, 2023, has been working with DataDojo to design and develop a custom infrastructure to support MangoRx's scalable direct response online sales campaign. This included i) the development and design of custom direct response landing pages, ii) sales funnel planning and development, iii) media content development and production, iv) development of email marketing and retargeting assets, v) strategic e-commerce eco-system planning, vi) product upsell strategies and shopping cart experiences, and vii) the multi-channel media setup, integration and activation of the DataDojo CDP.

In addition, the DataDojo agreement provided MangoRx with a pre-loaded database consisting of 5 million consumer profiles and records for MangoRx's marketing and outreach, leading to lower overall customer acquisition costs.

Mangoceuticals Inc (NASDAQ:MGRX) CEO and Co-Founder, Jacob Cohen, noted, "We are very excited to be working with DataDojo, whose team and founders are proven experts in marketing technology and e-commerce with over $1 billion generated in direct-to-consumer online sales through the use of their Customer Data Platform. As MangoRx is seeking to rapidly expand its consumer base nationwide, we believe the use of DataDojo's AI tools and CDP can play a significant part in increasing our online sales, while maximizing our marketing spend efficiencies."

Other key players in the Health Technology space include Goodrx Holdings Inc (NASDAQ:GDRX), Hims & Hers Health Inc (NYSE:HIMS), Teladoc Health Inc (NYSE:TDOC), and American Well Corp (NYSE:AMWL).

The post Health Tech Stocks Lined Up to Own the New Bull (WW, GDRX, HIMS, TDOC, MGRX, AMWL) appeared first on Wall Street PR.

COMTEX_431477533/2771/2023-05-02T08:22:14

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