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Emerald Clinics soars on plans to change name in line with global ambitions and expanded offerings

The company proposes that the name change to Emyria Limited will support its expanded offerings in remote chronic disease management, digital health technology development and COVID health screening.

Emerald Clinics Ltd - Emerald Clinics plans name change inline with international expansion goals
The ASX code of EMD will remain unchanged

Emerald Clinics Ltd (ASX:EMD) has been as much as 40% higher this morning on news that it intends to change its name to Emyria Limited as part of a rebranding consistent with its global ambitions and expanded offerings.

A notice of a general meeting to approve the name change will be sent to shareholders shortly with the ASX code of EMD to remain unchanged.

Emerald Clinics CEO Dr Michael Winlo said: “Emerald Clinics has developed a trusted brand within Australia that resonates with clinicians and patients, but as our business has evolved and as we increase engagements overseas, it has become clear that a rebrand was the best way forward to help communicate the breadth of what we do and our global aspirations.

“Emyria speaks to our mission to use a myriad of data to provide individualised care beyond the physical confines of a clinic.”

Shares have been up to 40% higher to 8.5 cents this morning and are currently trading at 7.6 cents.

“Moving to international markets”

The planned name change follows the announcement on August 10, 2020, of a data collaboration with a UK partner, demonstrating the global desirability of the company’s Real-World Evidence asset and the unique care model that supports it.

Dr Winlo said: “The recently announced data deal is the first step towards bringing our evidence-generating care model to international markets and we expect to build off that quickly in several geographies and across different health monitoring applications, where our Real-World Evidence asset can be utilised.

“In this next normal, leveraging remote data capture and real-time health monitoring to improve care and deliver insights that support new treatment development will become even more critical.”

Continued growth

July saw a record 795 appointments for the company’s clinical services in Australia, despite the downward trends in the majority of health services due to COVID-19.

In response, Emerald is actively hiring clinicians to meet growing demand for its clinical services, expanding its remote monitoring capabilities and increasing its data insight platforms.

The company is confident that the recently announced data deals demonstrate desirability of its unique Real-World Evidence (RWE) and care model in Australia, the UK and elsewhere.

Quick facts: Emerald Clinics Ltd

Price: 0.083 AUD

ASX:EMD
Market: ASX
Market Cap: $17.55 m
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