Lifespot Health’s (ASX:LSH) German subsidiary BodyTel is exploring global opportunities within the medicinal cannabis sector to integrate the BodyTel telemedical platform.
The company will explore opportunities to use its medical diagnostic and monitoring technologies to assist in the administration and monitoring of medicinal cannabis use in patients.
Lifespot is in discussions with a number of European-based medical device companies.
Last month, BodyTel signed an agreement with Beurer GmbH to integrate Beurer’s blood pressure monitoring device with BodyTel’s telemedical platform.
Beurer produces circa 2,200 products including weighing scales and blood pressure monitors, with a revenue of about €230 million.
BodyTel will build apps for patients based on Beurer`s newly developed bluetooth enabled clinical blood pressure monitoring device.
Lifespot was admitted to the ASX in January 2017 after raising $8 million at an issue price of $0.20 per share.
The company’s shares are presently trading 45% higher from its issue price, at $0.29.
Lifespot is rolling out its medical diagnostic and telemonitoring technologies into global markets, primarily the European and Australian markets.