Opyl Limited (ASX:OPL) chairman Dr Julian Chick has demonstrated his support for the company’s digital health and artificial intelligence (AI) strategy through recent on-market share purchases.
The chairman has acquired 103,274 fully paid ordinary shares in on-market transactions valued at $14,537.
This takes his overall holding on a post-consolidation basis to 242,519 shares held in an indirect interest.
Opyl, formerly known as ShareRoot Ltd (ASX:SRO), recently completed a 100:1 consolidation of its shares in conjunction with a rebranding and refocusing process.
Transition from US
The company has completed a transition from the US, relocating the CEO office, headquarters and research and development function in Australia.
Chief executive officer Michelle Gallaher said, “The new name more accurately reflects our Australian character and the use of artificial intelligence in mining structured and unstructured health data to deliver deep audience insights and engagement.”
Use of artificial intelligence
The new name and brand heralds its entry into the rapidly expanding global digital health and AI market.
Combining new technologies and healthcare expertise, Opyl’s key offerings include optimising clinical study design and recruitment strategies, and it is using AI to better understand the patient experience.
Gallaher said, “At last, through social media and patient-generated data, we can put the final piece of the puzzle into place and genuinely understand the real lived experience of people managing illness, injury and disorders.”
She said that hearing millions of patients’ and carers’ voices for the first time in their own words shared to social media platforms was an extraordinary insight that few in the health sector had been able to access until now.
“Patient stories and information shared to social networks gives us an ability to understand what their needs are and how they are not being met, identifying gaps where new technologies can be developed, predict the spread of infectious diseases, identify shortcomings in health and wellness education, improve compliance, identify new clinical intervention opportunities and opening up a novel way for patients to participate in medical research as partners.
“Our vision is to give patients control and agency over all their health data, not just electronic health records,” she added.