Australian startup studio IDE Group has announced a partnership with Kipuwex, a Finnish health device maker, to develop new telehealth solutions over the next two to three years.

WHY IT MATTERS

According to Kipuwex CEO Marko Höynälä, the partnership aims to come up with "reliable and affordable" telehealth solutions that will be marketed globally.

"By increasing access to physicians and specialists, telehealth solutions will help ensure patients receive the right care, at the right place, at the right time, producing high-quality outcomes and saving millions of lives," Kipuwex said in a statement.

The companies plan to build on Kipuwex's pain assessment and remote health monitoring device. The easily detachable and lightweight IoMT device measures biomarkers wirelessly and continuously.

IDE Group adds value in their partnership through its expertise in wearable therapeutic and diagnostic monitoring devices, drug delivery, surgical instruments, and diagnostics.

THE LARGER TREND

The partnership is tapping on the potential of telehealth, which is projected to grow to $266.8 billion in 2026 at a CAGR of 23.4% from a value of $49.8 billion in 2019.

During the pandemic, healthcare providers across Asia-Pacific expanded their telehealth offerings through forming partnerships, like Columbia Asia Hospital in Malaysia. Health Digital Technologies, which runs the healthcare platform DoctorOnCall, also partnered with Celcom to explore innovations in the digital health space.

Earlier in January, Siriraj Hospital, Thailand's largest public hospital, collaborated with two global technology services provider – NTT and Cisco – to use telemedicine to enable rapid treatment of stroke patients. 

ON THE RECORD

"This collaboration provides IDE Group with a great opportunity to bring its entrepreneurial values, medtech hardware design and development expertise, and proven track record in creating value in new ventures, together with Kipuwex’s exciting portfolio of product, telehealth expertise and deep in-market relationships to improve healthcare outcomes worldwide," said George Sidis, managing director at IDE Group.