Becoming a leader in the health sector, especially in cancer and diseases, ALR Technologies, Inc. (OTCBB: ALRT) has dedicated itself in keeping tabs on the health of individuals between visits to the doctor or hospital. With their flagship product, the Constant Health Companion™, the company designs and manufactures health management compliance products along with monitoring and intervention systems to better serve individuals suffering from illnesses.
The Constant Health Companion™ properly alerts doctors when their patients aren’t taking their prescribed medications correctly and at the appropriate time. The device is portable and has the benefits of easy configurations.
It may be surprising to know that more than $150 billion a year is contributed to non-adherence of treatments, and in preventable excess health-care costs. ALR hopes to have a significant and positive impact on these preventable costs. A recent research report by Forrest Research projected the home health technology market to grow to $5 billion within two years and $35 billion by 2015.
Last November the company successfully completed software enhancements on the Constant Health Companion™ which resulted in patent applications to be fielded for expanded intellectual property. The company marketed to 50 employer-led coalitions representing tens of thousands of companies that sponsor self-insured health benefits to more than 30 million employees and their dependents. Individuals who are stricken with one or more chronic diseases will be the initial users.
The company has been extremely active in research and development, which shows on their updated company figures. With administrative costs and new funding in research and development the company saw their numbers sink more than a million in the hole in 2006. Although that was the case, ALRT’s ambition to innovate and produce new products has investors keeping a close eye on the proceedings.
The stock is itching to break out past its 52-week peak of 25 cents achieved in early December 07, after plumbing a depth of four cents at the end of March 07. But uncertainty gripped the market at both ends of the spectrum, and small caps like ALRT were not immune. Towards the end of January, the price was around 15 cents. But with the attraction ALRT’s monitoring system holds for more health-care professionals, the company’s fortunes are to be watched, much as the devices watch our health.
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