10 Best Healthcare Companies in Australia & New Zealand 2023

Beer Health and a better way of life.

Editor’s Note

Healthcare Industries- Positioning for Success

HealthcarecompaniesinAustraliaandNew

Zealandarecrucialinprovidinghealthcare servicestotheirpopulations.Thegrowthofthese companiesinrecentyearsisattributedtovariousfactors, suchasanagingpopulation,asurgeinchronicdiseases, andagrowingawarenessofthesignificanceofpreventative healthcare.Thesecompaniesarediverse,rangingfrom pharmaceuticalsandmedicaldevicestohealthcareservices andbiotechnology.

Withasignificantshifttowardsapatient-centeredapproach, thehealthcareindustryispreparedtobringabout considerablechangeinthefutureofhealthcare. Technologicaladvancementshaveexpandedtheroleof patientsinmakingdecisionsregardingtheircare.Atthe sametime,theindustryisalsodealingwithproblemslike anagingpopulation,escalatingexpensesandariseinthe prevalenceofchronicillnesses.

Leadinghealthcarecompaniesarepositioningthemselvesto succeedinthisdynamicenvironmentbyprioritizing innovation,enhancingcustomerexperienceandcontrolling costs.Thesecompaniesareinvestingincutting-edge technologies,suchastelemedicine,artificialintelligence anddataanalytics,toreducecosts,improvepatient outcomesandstreamlineoperations.

Personalizedmedicineisacriticalareaofinvestmentfor healthcarecompanies.Thisapproachtailorstreatmentsto individualpatients'specificgeneticmakeup,lifestyleand environment.Thebenefitsincludemoreeffective treatments,feweradversereactionsandlowercostsinthe longrun.Improvingthepatientexperienceisanother priority,andcompaniesareofferingmorevirtualcare options,easieraccesstomedicalrecordsandpatient-centric environments.

Toaddresstherisingcostsofhealthcare,companiesare experimentingwithnewpaymentmodels,suchasvaluebasedcare,andexploringwaystoreduceadministrative costsandimprovesupplychainefficiency

InsightsCare'slatestedition,10BestHealthcare CompaniesinAustralia&NewZealand2023,introduces youtothebestindustriesinAustraliaandNewZealandthat arepositioningthemselvesforsuccessinanincreasingly competitiveanddynamicindustrybyembracinginnovation controllingcostsandfocusingonthepatientexperience.

Hope you have an exciting read!

-PoojaShah

10

Company Name

Person name

Description

Anteris anteristech.com

Wayne Paterson CEO

Arrow Pharmaceuticals Pty Ltd arrowpharma.com.au

CancerAid canceraid.com

Dennis Bastas CEO

Anteris Technologies is a structural heart company focused on developing innovative solutions to the biggest challenges facing aortic stenosis patients and their physicians.

Arrow Pharmaceuticals Pty Ltd is committed to creating better futures for Australian pharmacies and the communities they serve.

Raghav Murali-Ganesh CEO

CancerAid empowers the cancer community through digital empathy-driven innovation on a global scale.

Ellume Limited ellumehealth.com

Sean Parsons CEO

Ellume Limited is a digital diagnostics company that develops and commercializes accurate, connected products.

HealthMatch healthmatch.io

Manuri Gunawardena CEO

Mable Technologies Pty Ltd mable.com.au

Peter Scutt CEO

HealthMatch is a digital health company transforming the way patients connect to clinical trials.

Mable Technologies Pty Ltd is on a mission to improve access to affordable, flexible, quality support and care for Australians everywhere.

Next Science nextscience.com

Judith Mitchell MD

Next Science™ pioneers innovative, proprietary technologies to address the problem of biofilm. With proven, experienced management and scientific leadership,

Patrys Limited patrys.com

James Campbell CEO

Based in Melbourne, Australia, Patrys is a publiclylisted company on the Australian Securities Exchange drug development company focused on commercialising antibody therapies for oncology.

Third Age Health thirdagehealth.co.nz

Tony Wai CEO

Third Age Health provides medical services to residents of aged residential care facilities, rest homes, private hospitals, dementia facilities and retirement villages.

Voxon Photonics voxon.co

Gavin Smith CEO

Voxon Photonics are creators of The Voxiebox VX1 – the world’s first three-dimensional (3D) volumetric display

Best Healthcare Companies in Australia & New Zealand 2023

JuMe

Acommonmisconceptionisthatanindividual's

bodybecomesresistanttospecificmedicines.But itisthebacteria,nottheindividual,thatgrows resistanttothemedicines.Bacterialbiofilms,i.e.,resistant bacteria,areontheriseastheydonotrespondtoantibiotics andcauseinfections.Itisforthisreasonthatsomediseases thatwereonceeasytotreatarenowdifficulttotreat, leadingtoincreasedhospitalvisits,healthcarecostsand readmissions.Ifleftunchecked,theseresistantinfections areestimatedtokillmorepeoplethancancerby2050.

ButJudithMitchell,theManagingDirector(MD)of NextScience,believesinfindinganotherwaytodealwith infections.Shehaspushedherteamintoseekingnonantibioticanswerstochronicinfectionsandinnovatingantibiofilmsolutions.Withthepurposeofreducing antimicrobialresistanceandcombatinginfections,XBIO Technologyisyetanotherofthecompany'sinnovative, non-toxicapproachesthatdeconstructsthestructureof biofilmbyremovingitsmetalions.Thismakesthebacteria vulnerabletoattackwithoutanyobservedresistance.

Throughaninterviewwith Insights Care,JudithMitchell walksusthroughherjourneythathasmadeNextSciencea leadingBiotechnologyResearchfirm:

A Non-Antibiotic Way to Deal with Biofilm-Based Infections

PleasebriefouraudienceaboutNextScience.Kindlytell usthesourceofinspirationforventuringintothe healthcaresector.

NextScienceisauniquebiotechcompanythathas developedanswerstosomeoftheunmetneedsinmodern healthcare,suchaschronicwounds,prostheticjoint infectionanddealingwithbiofilms,acomplicationthatcan createchronicinfectionsthatareverydifficulttoresolve. Ourinventorandfounder,Dr.MattMyntti,waspartofthe MedtronicsbiologicsteaminJacksonville,andhe consistentlyfoundthedevicesfailingbecauseofbiofilms. Asamaterialscientist,helookedatthisproblemdifferently, andfoundacompletelynovelwaytoeliminatethebiofilm, suchthatitwasnottoxictohumans;somethingthathad neverbeendonebefore,andcurrentlythereisnosimilar technologiestoours.

Thecompanybeganwithanoveltechnologytotreat chronicinfectionsandadesiretoimprovethelivesof patientswhoweresufferingunnecessarily Wehavenot strayedfarfromthatmission.Wenowaddressthe preventionofinfectionaswellastheresolutionofsome chronicinfections,butwearestillveryalignedwithour missionof“healingpeopleandsavinglives.”

Judith Mitchell MD Next Science

We believe in the widespread use of our preventative products, which can reduce one of the starting points of long-term infection—the surgical site infection—so that people aren't taking infections home from the hospital. For this reason, our products are not antibiotics. Our ability to resolve some chronic infections or prevent chronic infections has the added benefit of not adding to the very real medical issue of growing antimicrobial resistance.

Bacterialinfectionsareestimatedtokillmorepeople thancancerby2050.Whataresomeoftheoperations youareemphasizingtoimprovesurgicaloutcomes?

Ourproductsarenotantibiotics,soourabilitytoresolve somechronicinfectionsorpreventchronicinfectionshas theaddedbenefitofnotaddingtotheveryrealmedical issueofgrowingantimicrobialresistance.

Webelieveinthewidespreaduseofourpreventative products,whichcanreduceoneofthestartingpointsof long-terminfection—thesurgicalsiteinfection—sothat peoplearen'ttakinginfectionshomefromthehospital.We canalsoserveasaninfection-controlbarrierduringother medicalprocedures,suchascatheterandPICCline insertion.Ultimately,stoppingtheoccurrenceofinfection.

Briefusaboutyourselfandshedsomelightonyour journeyastheguidinglightofNextScience.

Havingbeenprivilegedtospendmybusinesscareerin healthcare,Ihavebenefitedfromabroadrangeof experience,startinginimagingwithGEMedicalSystems whenMRIwasbeingintroducedinAustralia,Cochlear, whereIwaspartoftheglobalmanagementteamthat helpedtakethattechnologytotheworld,andthenin orthopaedicswithSynthesandthenDePuySynthesforAsia Pacific.

Eachpositionbroughtitsownlearningsthatallowedmeto cometoNextSciencewithnotonlyaknowledgeofthose customerswhoneedus(havingseeninfectionsruinthe workofgreatsurgeons),butalsoahugeempathyfor patientsandtheirfamilieswhosufferbecauseofthesilent, invisibleenemyofchronicinfections.

Ourearlyclinicalstudyworkshowsthatwecangreatly reducepostoperativeinfectioninhipandkneeprimary surgeriesandhipandkneerevisionsurgeries,where postoperativeinfectioncanbecatastrophic.

Antibacterialresistancehasbecomeaglobalproblem. Whatareyourthoughtsonthesame,fromahealthcare perspective?

Wearegreatbelieversinfindinganotherwaytodealwith infections.Wehaveproductsthathelp.Wealsobelieve moreresearchshouldbepushedintofindingnon-antibiotic answerstotheproblem.

Thefirstchallengeisthebiofilmsthatprotectagainst infections.Currently,thereisnodefinedtestforabiofilm. Hencetheabilitytoremovebiofilms,whichiskeyto removingchronicinfections,cannotbeconfirmedbyatest. It'salmostacatch-22situationbecausetheregulators cannotprovideanyonewithlabelingthatsays,"This productremovesabiofilm."Thismustchange.In disinfectants,theEPAhasbuiltastandardandwillnow makeabiofilmclaim.Thehealthcareregulatorsarehaving moredifficulty,generallyduetothelackofagreed-upon standardizedtestingforthepresenceofabiofilm.

Whatisyouropiniononhealthcareprovidersseeking thesupportoftechnologyintreatingbacterialinfections andcateringtothedynamicneedsofpatients?

Healthcareprovidersneeddatatochange.Theywillsupport anewtechnologythathasadequatepatientdata.This meansthatthereisalargefinancialcommitmentforany companylookingtochangetreatmentpathways.Not insurmountable,butrequiringatleasta2–5-yearinvestment togatheralargeenoughpatientgroupandsortthroughthe data,dependingonthenumberofpatientsinfected.

WhatresearchoperationsdoyouencourageatNext Sciencetocomeupwithanti-biofilmsolutions?Howare thesesolutionshelpingpatientsingeneral?

Wearecurrentlyconductingstudiesinthelungs,skin, surgicalsites,chronicwounds(includingtunneling wounds),bonevoids,urethra,intervertebraldiscs,and implanthardwaresuchastitanium,stainlesssteel,cobalt chrome,Teflon,polyethylene,PMMA,andcalciumsulfate. Someofthisresearchcouldendupintreatmentproducts, whileotherswillendupinaugmentedproductsprotected frombiofilm.

Whatadvicewouldyouliketogivetobudding entrepreneursandenthusiastsaspiringtoventureinto thehealthcareniche?

Welcometothefight.Findinganangelinvestorwithalongtermperspectiveisagoodplacetostart,butthepathfrom healthcareinnovationtocommercializationisnoteasy.If youarecomingoutofAustraliaintotheglobalmarket,pick yourcommercializationpartnercarefully Youmustensure thatyoucomplementeverythingelseintheirportfolio,that theirsellingprocessisappropriateforyourproduct,and thattheyaremotivatedbytheirmissiontomakeithappen.

Howdoyouenvisionscalingyourorganization's servicesandoperationsin2023andbeyond?

Ourcurrentfocusisexpandingourcommercialfootprint. WehavejustlaunchedourBlastX(Oraderm)and XPERIENCE(preventativesurgicallavage)productswith NovusinAustraliaandNextMedinNewZealand,andwe willbeenteringCanadasoon.

IntheUSmarket,wehavetwocommercialteams:one focusedonsurgicalsitepreventionandonecurrently focusedonorthopaedics.Wearecontinuingtobuildoutour contractdistributionteam.Thekeytothismarketisthatthe surgicallavageneedstogointosurgerysupportedbythe commercialstaffsupportingthehiporkneereplacement(or spineortraumaimplants).Thatmeanstherewilleventually behundredsofcontractdistributors,eachwithtwotothree customers.

Inwoundcare,wehavejustlaunchedasecondplatformto giveusgreatermarketaccessandtheabilitytoaccessCMS reimbursement.Thisisadirectsalesteam.Thewoundcare businesscurrentlyhasateamof20andwillbeexpanded organicallyassalesgrow.

Heahcare Globalizing Industry Towards Horons

ntherapidlyevolvingHealthcareIndustry,new Itechnologies,treatmentsandtrendsareemergingeach year.Intherecentyears,oneofthemostsignificant changeshasbeentheglobalizationofthehealthcare industry.

Let's discuss how the healthcare industry moves towards new horizons through defined strategies!

GlobalizingtheHealthcareIndustry

Globalizingthehealthcareindustryreferstotheprocessof expandinghealthcareservices,productsandexpertise acrossinternationalborders.Severalfactors,includingthe increasingdemandforhealthcareservices,theriseof medicaltourism,andtheglobalizationoftradeand investmenthavedriventhistrend.

Astheworldbecomesmoreinterconnected,healthcare providersincreasinglyseektoexpandtheiroperations beyondtheirdomesticmarkets.Thisismainlytruein

developingcountrieswithagrowingdemandforhealthcare servicesandashortageofhealthcareinfrastructureand expertise.

Atthesametime,medicaltourismhasemergedasa significantglobalindustry,withmillionsofpeople travellingtoothercountrieseachyeartoreceivemedical treatment.Numerousfactors,includingtherisingcostof healthcareinmanydevelopednations,theavailabilityof top-notchmedicalfacilitiesandexpertiseindeveloping nations,andtheeaseandaffordabilityofinternationaltravel haveallcontributedtothistrend.

Inadditiontothesefactors,theglobalizationoftradeand investmenthasalsoplayedaroleintheglobalexpansionof thehealthcareindustry.Ascountriesbecomemore integratedintotheglobaleconomy,healthcareproviders increasinglyseektoestablishoperationsinnewmarketsto tapintonewsourcesofdemandandaccessnewpoolsof capital.

Thegrowingdemandforhealthcareservices,theriseof medicaltourism,andtheglobalisationofcommerceand investmentareallfactorsthatareprojectedtocontributeto theglobalisationofthehealthcarebusinessoverthenext fewyears.Ashealthcareprovidersseektoexpandtheir operationsbeyondtheirdomesticmarkets,theywillneedto developeffectivestrategiesfornavigatingtheunique challengesandopportunitiespresentedbydifferent countriesandregions.

DefinedStrategiesforGlobalization

Inordertosuccessfullyglobalizethehealthcareindustry, definedstrategiesneedtobeimplemented.Thesestrategies include:

DevelopingCross-BorderPartnerships:Oneofthekey strategiesforglobalizingthehealthcareindustryisto developcross-borderpartnershipsbetweenhealthcare providers,hospitalsandpharmaceuticalcompanies.These partnershipsenablethesharingofexpertise,knowledgeand resourcesandcanleadtothedevelopmentofinnovative healthcaresolutionsthatbenefitpatientsworldwide.

InvestinginTechnology:Investingintechnologyis anothercriticalstrategyforglobalizingthehealthcare industry.Advancesintechnology,suchastelemedicineand electronichealthrecords,enablehealthcareprovidersto delivercareremotely,improvepatientoutcomes,and

reducecosts.Additionally,digitaltechnologiescanenhance theaccuracyandefficiencyofmedicaldiagnosesand treatments.

ImprovingRegulatoryFrameworks:Regulatory frameworksplayacriticalroleintheglobalhealthcare industry,astheyensurethathealthcareservicesand productsmeetcertainqualityandsafetystandards.Asthe industrymovestowardsglobalization,itisimportantto developharmonizedregulatoryframeworksthatcanbe appliedacrossnationalboundaries.Bydoingthis,patients willreceivehigh-qualityhealthcareservicesandgoods whileenablinghealthcareprovidersandpharmaceutical firmstofunctionmoreeffectivelyandefficiently

ExpandingMedicalTourism:Themarketofmedical tourism,whichentailsreceivingmedicalcareabroad,is expandingquickly.AccordingtoareportbyAlliedMarket Research,theglobalmedicaltourismmarketisanticipated toincreaseataCAGRof19.3%2027,reaching$273.72 billion.Tocapitalizeonthistrend,healthcareprovidersand medicaltourismdestinationsneedtoworktogetherto develophigh-qualityandcost-efficienthealthcareservices thatmeettheneedsofpatientsfromaroundtheworld.

FocusingonPreventiveCare:Finally,acriticalstrategy forglobalizingthehealthcareindustryistofocuson preventivecare.Healthcareproviderscanreducehealthcare costsandimprovepatientoutcomesbyfocusingon preventionratherthantreatment.Additionally,preventive carecanhelptoreducetheburdenofchronicdiseases, whichaccountforasignificantportionofhealthcarecosts worldwide.

To Conclude

Theglobalizationofthehealthcareindustryisanimportant trendthatistransformingthewayhealthcareservicesand productsaredeliveredworldwide.Definedstrategies,such asdevelopingcross-borderpartnerships,investingin technology,improvingregulatoryframeworks,expanding medicaltourism,andfocusingonpreventivecare,are essentialforachievingthegoalsofglobalizingthe healthcareindustry.Byworkingtogether,healthcare providers,pharmaceuticalcompaniesandmedicaltourism destinationscandevelopinnovativesolutionsthatimprove patientoutcomes,reducecostsandadvancetheindustry towardsnewhorizons.

-PoojaShah

James Campbell CEO and MD Patrys Limited

Patrys Limited

Revolutionising the Antibody Approach to Fighting Cancer

PatrysLimitedisanAustralianbiotechcompany

workingattheforefrontofdevelopingpotentnew antibodyapproachesfortreatingcancer.Whilst manycancerscanbesuccessfullytreatedwithexisting antibody-basedtherapeutics,Patrys'deoxymabantibodies haveauniquemechanismofactionandhavethepotential tobeusedtotreatcancersthatarecurrentlynottreatable withtraditionalantibodyapproaches.

InaninterviewwithInsightsCare,CEOandMD,Dr JamesCampbell,talksindepthaboutPatrys'unique antibodyapproachtotreatingcancer.

Featured here are excerpts from the interview:

Briefusaboutthecompanyandshedsomelightonyour roleandresponsibilityatPatrysLimited.

PatrysLtd('Patrys'or'theCompany')isanAustralian biotechnologycompanylistedontheAustralianSecurities Exchange(ASX).Thecompanyisworkingtodevelopa rangeofanti-cancertherapeuticsbasedonanovelantibody discoveryatYaleUniversityintheUS.Overthepastseven yearsthePatrysteam,supportedbyaglobalnetworkof investorsandcollaborators,hasadvancedalabdiscovery throughtoanimportantmilestone—thecommencementof itsfirstclinicaltrialontrackforCY2024.

Thecompany'santibodies,calleddeoxymabs,haveanovel mechanismofactionandthepotentialtobeusedfora rangeofcancertypesthatarenotcurrentlytreatedwith antibodies.Ifsuccessful,thistechnologycouldheralda breakthrougheraincancertherapeuticsforextremelyhardto-reachandtreattypesofcancer.Thereisparticular interestinthefactthatdeoxymabscancrosstheblood-brain

barrier,makingthemattractivepotentialtreatmentsfora rangeofbraincancersincludingglioblastomaand metastaticbraindisease.

AsCEOandMD,Ihaveavarietyofday-to-dayexecutive andoperationalresponsibilities,togetherwithan opportunitytorepresentoneoftheworld'sleading innovatorsinthecancertherapeuticsspace–inclinicaland corporatesettings.Theseresponsibilitiesincludeworking withtheChairandBoardofdirectorstosetthestrategic visionforthecompany;contributingtotheongoing researchanddevelopmentactivities;leadingbusiness developmentactivities;andmostimportantlyempowering andresourcingtheteam.

It is our mission to improve quality of life by developing innovative therapies for cancer and hard-to-treat diseases. Our deoxymab technology has been developed in collaboration with scientists from globally distinguished medical institutions and offers revolutionary new antibody approaches for treating these devastating diseases.

Whatarethemission,visionandvaluessharedby PatrysLimited?

Itisourmissiontoimprovequalityoflifethrough developinginnovativetherapiesforcancerandhard-to-treat diseases.Ourdeoxymabtechnologyhasbeendevelopedin collaborationwithscientistsfromgloballydistinguished medicalinstitutionsandoffersrevolutionarynewantibody approachesfortreatingthesedevastatingdiseases.

Itisourvisiontobegloballyrecognizedforourinnovative therapiesthatprovidetangiblebenefitstopeoplewith cancerandprovidesuperiorandsustainablereturnson investmentforinvestors.

Patrys'valuesareentrenchedthroughoutthecompanyand guideouractionsfromlong-termstrategytoday-to-day activities.Ourvaluesare:

Ÿ Integrity:Weactethicallyandhonestlyandwetake responsibilityforourwordsandactions

Ÿ Innovation:Weadvancetheboundariesofknowledge todevelopnewtherapies

Ÿ Collaboration:Wefosterteamworkbothwithinthe Companyandwithexternalstakeholders,todrivebestin-classtherapeuticoutcomes

Ÿ Rigour:Weidentifyandmanageriskthroughdiligence, andworktirelesslytoadvanceourmission

Ÿ Meaningfuloutcomes:Wewillimprovecancer treatmenttobenefithumanityandourstakeholders

Tellusaboutthecoreproductsandservicesthatthe companyofferstosupportthehealthcareneedsofthe patients.Howarethesedifferentfromothercompanies inthemarket?

Patrys'valuestemsfromtheuniquemechanismofactionof itsantibodytechnologyplatform,deoxymabs–makingthe companyanidealcandidateforpotentialpharmaceutical industrypartnerships.

Antibodieshavebeenusedfortreatingcancersfortwo decadesandputsimply,theantibodiesthatbindtospecific cancermarkersonthecellsurfacewillcausethosecellsto die.Thishasrevolutionizedcancertherapy,asantibody drugsaremorespecificandhavefewersideeffectsthan prior"smallmolecule"chemotherapydrugs.Butthereare twomajorhurdlestoabroaderapplicationofantibodiesto treatcancer.Thefirstisthatnumerouscancersdonothave suitablecellsurfacemarkers,soarenotamenableto traditionalantibodyapproaches.Thesecondisthatno therapeuticantibodieshavebeenabletocrosswhatwecall theblood-brainbarrier,meaningthatantibodieshavenot beenwidelyusedforthetreatmentofbraincancers.

Patrysisontracktosolvetwooftheseproblems:

Ÿ Patrys'antibodiestargettheDNAfragmentsthatare releasedfromdyingcancercells,meaningtheywork independentlyofcellsurfacemarkersofcancer They localisetothetumourenvironmentveryquickly–ina matterofminutes–andareinternalisedintothecell nucleuswheretheyblockDNArepairandDNA

replication,leadingtocancercelldeath.Research undertakeninanimalmodelsofarangeof intractablecancersincludingtriple-negativebreast cancer,ovariancancerandpancreaticcancer,has shownthatdeoxymabantibodiesstoptumourgrowth andsignificantlyincreasesurvival.

Ÿ Patrys'antibodiesarealsoabletocrosstheblood-brain barriertotreatcancerswithinthebrain.Theseinclude primarycancerslikeglioblastoma,andmetastatic cancers,wherecancercellsfromoutsidethebrainmove

throughthebloodandcreatenewsecondarycancersin thebrain.Deoxymabscantravelthroughthecirculatory systemintheblood,andonceintheneuralblood vessels,moveouttotargetthecancercells.Patrys' antibodiesalonehavebeenshowntostopthegrowth ofbraincancerandincreasesurvival,butareeven moreeffectivewhencombinedwithradiation therapy–asproveninrecentpreclinicalstudies.

WhatspecificR&Doperationsisyourcompanyleading atpresent?Whydoyoufindthemessentialin developingorimprovinghealthcaresolutions?

Patryshasmobilizedaworld-classteamofcorporateand clinicalspecialiststocoordinateitsresearchand development(R&D)activities,inthelead-uptotheplanned commencementofitsfirstclinicaltrialCY2024.

Thecompany'sappointedContractDevelopment ManufacturingOrganisation(CDMO)hasnowsuccessfully completedspecificationtestingofitsPAT-DX1drug substance,layingstrongfoundationsforthetrial.

Meticulousplanningofproductmanufacturingcapabilities andclinicaltrialdesign,incompliancewithguidelines mandatedbykeyregulatorsandcollaboratingparties,iskey todevelopingnovelandeffectivetreatmentsatthisendof thedrugdevelopmentspectrum.

Howdoyouenvisionscalingthecompany'sservicesand operationsin2023andbeyond?

Patrys'corefocusistocommenceitsfirstclinicaltrialin CY2024.Opportunitiestoscaleanddiversifythebusiness willbeassessedatappropriateintervalsandinappropriate forums,thereafter

Helping Technolog y Work With You & For You Yo

Healthc ar e Emer ging Innovations in the Industry in 2023

Thehealthcareindustryisadynamicfieldthat constantlyseekstoimprovepatientoutcomesand enhancetheoverallqualityofcare.Overtheyears, thishasledtothedevelopmentofnewtechnologies, treatmentsandtrendsthathaverevolutionizedtheindustry

Itisobviousthatnewtechnologiesareprimedtopropelthe sectortowardnewheightsas2023drawscloser These innovationsaresettotransformthewayweapproach healthcare,fromleveragingartificialintelligence(AI)for diagnosticstoutilizingvirtualcareplatformsforremote patientmanagement.Withnewtechnologiesandtrends emerging,thehealthcareindustryisinapositionfora periodofrapidgrowthandtransformation.

Let's explore the key statistics on the emerging innovations that are set to shape the healthcare industry in 2023 and beyond!

AI-drivenDiagnostics:

Artificialintelligence(AI)isincreasinglyusedin healthcare,particularlyindiagnostics.ByleveragingAI algorithms,healthcareprofessionalscananalyzemedical imagesandpatientdatamorequicklyandaccurately.A recentstudypredictsthattheglobalhealthcareAImarket

willreach$45.2billionby2026,expandingataCAGRof 44.9%.Additionally,astudybyStanfordUniversityfound thatAIalgorithmscoulddiagnoseskincancerwithasimilar accuracyratetohumandermatologists.

VirtualCarePlatforms:

Virtualcareplatforms,whichenablepatientstoconnect withhealthcareprovidersremotelyviavideo,phone,or text,havebecomeincreasinglypopularinrecentyears.This trendhasacceleratedinthewakeoftheCOVID-19 pandemic,withmanyhealthcareprovidersadoptingvirtual careplatformsasawaytomaintaincontinuityofcarewhile minimizingtheriskofexposure.Accordingtoasurveyby theAmericanHospitalAssociation,76%ofhospitalsnow usevirtualcareplatformsinsomecapacity.Thesame surveyfoundthat85%ofhealthcareexecutivesbelieve virtualcarewillbeanimportantpartoftheirorganization's strategyinthefuture.

BlockchainTechnology:

Blockchaintechnology,whichallowsforsecure, decentralizedstorageanddatasharing,hasthepotentialto transformthehealthcareindustrybyenablingmoresecure andefficientsharingofpatientdata.Basedonthereportby MarketsandMarkets,thehealthcaremarket'sglobal blockchainisexpectedtogrowataCAGRof70.4%, reachingavalueof$1.7billionby2025.Additionally,a surveybyIBMfoundthat16%ofhealthcareexecutives alreadyuseblockchaintechnologyintheirorganizations, withanother56%planningtoadoptitinthefuture.

PersonalizedMedicine:

Personalizedmedicine,whichinvolvestailoringmedical treatmentstothespecificneedsofindividualpatientsbased ontheirgenetic,environmentalandlifestylefactors,is anotheremergingtrendinthehealthcareindustry. AccordingtoareportbyGrandViewResearch,theglobal personalizedmedicinemarketisexpectedtoreach$3.4 trillionby2025,growingataCAGRof9.3%.Additionally, asurveybyHealthCatalystfoundthat62%ofhealthcare executivesbelievethatpersonalizedmedicinewillbeakey trendintheindustryinthecomingyears.

RoboticsandAutomation:

Roboticsandautomationarealsosettotransformthe healthcareindustryin2023andbeyond.Fromrobotic surgicalsystemstoautomatedpharmacydispensing systems,thesetechnologiescanpotentiallyimprove efficiency,reducecostsandenhancepatientoutcomes. AccordingtoareportbyAlliedMarketResearch,theglobal medicalroboticsandautomationmarketisexpectedto reach$23.1billionby2025,growingataCAGRof15.8%. Additionally,asurveybytheAmericanSocietyofHealthSystemPharmacistsfoundthat70%ofhospitalsalreadyuse someautomateddispensingsystem,withanother22% planningtoadoptitinthefuture.

Conclusion

Thehealthcareindustryisinrapidinnovation,with emergingtechnologiesandtrendssettotransformhowwe approachhealthcarein2023andbeyond.Astheindustry continuestoevolve,itwillbeimportantforhealthcare professionalstostayup-to-datewithemergingtrendsand technologiesandtoprioritizeinnovationasakeypartof theiroverallstrategy.

It'sworthnotingthatwhiletheseinnovationsholdimmense promise,theyalsoraiseimportantethicalandregulatory questions.Forexample,asAIalgorithmsbecomemore sophisticated,ensuringtheyaretransparent,unbiasedand ethicalintheirdecision-makingwillbeimportant. Additionally,asmorepatientdataisstoredandsharedusing blockchaintechnology,itwillbeimportanttoprotect privacyandsecurity.

Ultimately,thekeytosuccessinthehealthcareindustryin 2023andbeyondwillbeawillingnesstoembracechange andinnovationwhilealsoprioritizingpatientneedsand ethicalconsiderations.Bydoingso,healthcareproviders candrivemeaningfulprogressandimprovethehealth outcomesofpatientsaroundtheworld.

-PoojaShah

Third Age Health

Providing Trusted Healthcare for Older People Residing in Aged Residential Care

ArisingnumberofolderpeopleinNewZealandare

enteringagedcare.Whilemanyofthemare healthyandfit,someontheotherhand,arefragile, vulnerable,andrequireahighlevelofcareandsupport. TheNewZealandpopulationprojectionsshowthatthe mostvulnerablegroup—thoseover80—willsignificantly increaseoverthenexttwodecades.Notonlyaretheseage groupsatriskofgrowingmentalorphysicaldisabilitiesbut theyalsoliveapoorqualityoflife.

Thisleadstothequestion—What support is required in improving their quality of life and extending their health span? Onlywitheffectivehealthcareservicescantheold ageobjectivebemet.ThirdAgeHealthisaleaderin providinghealthcareservicestoolderadultsresidinginall settings,includingagedcarehomes,privatehospitals, securedementiaunits,retirementvillagesandtheirown homes.Itinvolvesateamofgeneralpractitionersandnurse practitionerswhoprovideweeklyon-siteclinicsforover60 agedcarefacilitiesthroughoutNewZealand.Theyare committedtoin-hoursandafter-hoursmedicaladvicefor on-siteagedcarestaffwhoarecaringforresidents.

InaninterviewwithInsightsCare,TonyWai,theCEO, shedsalightonThirdAgeHealthwhichhasreshapedthe modelofcarewithinthecommunity,inawaythatbestsuits thecomplexneedsoftheageingpopulation.

Following are excerpts from the interview

Kindlytellusthesourceofinspiration.Whatledyouto ventureintotheHealthcareIndustry?

Ihaveworkedinthehealthsectorforthepasttenyears.It isalwaysnicetobeinvolvedinworkthatprovidesasense of'doingsomegood.'Workinginhealthcarecertainly providesthat.Iammotivatedbythefactthatthereisagreat needinourcommunitiesforsustainablemodelsof healthcarewhichareaccessibletopeopleofallages,stages andethnicity Asourpopulationages,withanincreasing

numberofpeopleovertheageof65years,weneedto ensurethattheyareprovidingatrusted,qualityprimary healthcareservicewhichmeetsthespecificneedsofpeople astheyagetoimprovetheirqualityoflife.

Briefusaboutyourselfandshedsomelightonyourrole andresponsibilityatthecompany.

IbeganmycareerinFMCGandthemanufacturingsector withsomeofNewZealand'sbest-knownbrandswhereI heldseniorfinance,operationsandadvisoryroles.Imade thetransitionintohealthfirstwithAtlantisHealthcare GroupastheirCOONZManagingDirectorbeforemoving toProCareHealth,NewZealand'slargestprimary healthcareproviderwhereIwasGMofCorporateServices

We aim to be the healthcare provider of choice for older people living in all settings, including aged care homes, private hospitals, secure dementia units, retirements villages and in their own homes. Our vision is that no matter where someone chooses to age, they will have easy access to trusted, quality and timely medical care which improves their quality of life.

Tony Wai

CEO

Third Age Health

andinterimCEO.IhavebeentheCEOofThirdAgeHealth sinceOctober2021.Ialsoholdseveraladvisoryand governancerolesrelatingtothedisabilitysector,healthIT andhealthconsulting.

Whatarethemission,visionandvaluessharedbythe company?

Weaimtobethehealthcareproviderofchoiceforolder peoplelivinginallsettings,includingagedcarehomes, privatehospitals,securedementiaunits,retirementvillages andtheirownhomes.Ourvisionisthatnomatterwhere someonechoosestoage,theywillhaveeasyaccessto trusted,qualityandtimelymedicalcarewhichimproves theirqualityoflife.Ourteamaligntheirserviceswiththe valuesoftrust,careandkindness.

Tellusaboutthecoreproductsandservicesthatthe companyofferstosupportthehealthcareneedsofthe patients.Howarethesedifferentfromothercompanies inthemarket?

ThirdAgeHealth'steamofgeneralpractitionersandnurse practitionersprovideweeklyonsiteclinicsforover60aged carefacilitiesthroughoutNewZealand.Inaddition,our teamprovidein-hoursandafter-hoursmedicaladvicefor onsiteagedcarestaffwhoarecaringforresidents.Our medicalpractitionersalsomeetwithfamiliesasandwhen neededtosupporttheongoinghealthcareneedsofsomeone whomaybefrail,cognitivelyimpairedorinpalliativecare.

Residentsacrosstheagecarefacilitiesareallregistered patientswithThirdAgeHealthandsoaswellastheiracute medicalneedsbeingmetbyourpractitionerteam,theyalso receivescheduledhealthandmedicationreviews.

Briefusabouttherisingneedforthehealthcaresector inyourarea.Howwillitimpactthewaypatientsreceive treatmentandtheclinicaldecisionstakenbycare providers?

NewZealandhasanageingpopulation,withthenumberof thoseagedover65yearsexpectedtoaccelerate dramaticallyoverthenext50years,accountingfor23%of NewZealand'spopulationby2036.InMay2022therewere 780,880peopleovertheageof65years,thisisexpectedto morethandoubleby2048whenanestimated1.5Mpeople willbeagedover65years.The85+yearsagegroupisalso forecasttoincreasebymorethan30%by2048,from 88,000peoplein2020tobetween270,000–320,000 people.

Aspeopleage,theirhealthcaredemandsincrease,with thoseagedover65yearsaccountingfor16%ofthe populationbutusingover42%ofhealthcareservices.The average85-year-olduses16timesmorehealthcarethanthe average40-year-old.Moreemphasisisbeingputon preventionstrategiestohelppeopleagepositivelyand remainhealthierforlonger Withincreasingnumbersof peopleenteringagedcare,oftenwithcomplexhealthneeds, thedemandforqualityhealthcareserviceswillcontinue.

FundingisalsoveryconstrainedacrosstheNZhealth systemandourfunders(specificallythegovernment)are increasinglylookingforproviderswhoarealignedtowellbeingimpactandvalueeffectiveness;specificareasoffocus andexpertisethatThirdAgeHealthisincreasingly delivering.

Privatesectoragedcareprovidersneedtrustedpartners–ThirdAgeHealthiscommittedtomeetingthisneedaswell.

WhatspecificR&Doperationsisyourcompanyleading atpresent?Whydoyoufindthemessentialin developingorimprovinghealthcaresolutions?

UndertheguidanceofourClinicalAdvisoryGroup,which bringstogetherarangeofthoughtleadersinhealth,aged careandsolutiondesign,wearereshapingourmodelof caresoitbestsuitsthecomplexandevolvingneedsof someoneastheyage.

Inwhatwaydoyouconsidertechnologicaladvancesto beapathwayinconductingyourcompany'soperations?

Thereisanacknowledgedshortageofmedical professionalsworldwideandthisisnodifferentinNew Zealand.Withanincreasingpopulationandpatientswith morecomplexhealthneeds,wemustfindwaystodeliver qualityhealthcareinasustainableway,therefore technologicaladvancesarecrucialinregardstousingdata andimprovedtriagetodelivercare.Well-integrated technologycanspeeduptheadministrativetasksthatare oftenofgreatburdentoourmedicalteam.Better technologysolutionsallowclinicianstospendmoretime withpatientsandtoseeanincreasingnumberofpatientsas well.

Whatendeavoursisthecompanycurrentlypursuingto improveitsservicemeasuresfortheclients?

We'rewellawarethatifsomethingcanbemeasured,itcan beimprovedandsowe'refocusedonusingdatatodrive clinicalimprovementsforpatients.Inaddition,weare planningtointroducenewtechnologythatreducesthe adminburdenforagedcarestaffpreparingclinicalrounds forourpractitioners.We'reacutelyawarethattheagedcare facilitiesweprovideservicestohavetheirownworkforce challengessowewillbeworkingcloselywithourclientsto realiseefficiencies.

Ourfocusisonimplementinganewmodelofcarefor peopleovertheageof65thatfocusesonpreventionand

well-beingandisconsistentwhethersomeoneislivingin thecommunityoragedcare.

Whatadvicewouldyouliketogivetobudding entrepreneursandenthusiastswhodesiretoventure intotheHealthcareIndustry?

Thehealthcaresectoroffersmanyopportunitiesbutitcan becomplexsoitpaystospeaktopeoplewhounderstand thevariousfundingmechanisms.Takinganicheapproach andfocusinganddeliveringwellinthisareaisalwaysthe bestpathwaytogetimmediatecredibility

Howdoyouenvisionscalingthecompany'sservicesand operationsin2023andbeyond?

ThirdAgeHealthwillbefocusedonsupportingour existingmedicalpractitionerworkforceandrecruitingnew teammembers.Ourskilledmedicalteamarehighlyvalued andofcoursecrucialtoenableustoscaleourservices.We wanttobeanemployerofchoiceforGeneralPractitioners andNursePractitioners.

Wewillbeintegratingtechnologyandcontinuingwitha blendedmodelofbothin-personandvirtualservice deliverysothatpatientsgettimelycareandtoenableusto leverageournationalreach.

Pleasementionclienttestimonialsorrecognitionsthat yourcompanymayhaveattainedalongitsjourneyto success(ifavailable/permissible).

"ThirdAgeHealthprovidesourresidentswithexcellent generalpracticehealthcare.Theyhaveaholisticapproach toolderpeople'shealthwhichfocusesonimprovingquality oflife."

GailKopa, BusinessandCareManager, OceaniaElmwoodVillage, Auckland