POINT ROBERTS, Wash. and DELTA, British Columbia, Feb. 13, 2019 (GLOBE NEWSWIRE) — Investorideas.com, a leading investor news resource covering technology and healthcare stocks releases a snapshot looking at increased quarterly sales for the sector thanks, in no small part, to Walmart.
CNBC has reported on how Walmart is looking for ways to reduce health-care costs for its customers, and its employees. It’s goal to take a leading role in healthcare is now spreading and is having an impact on the sector overall.
Multi-year deals with Walmart are impacting stocks in the sector, ranging from big companies like CVS Health Corporation reporting in mid-January, ”Walmart to Continue Participating in CVS Caremark Commercial and Managed Medicaid Retail Pharmacy Networks,” to smaller vendors making inroads with the retail giant.
Directly benefiting from its relationship with Walmart, InnerScope Hearing Technologies Inc. (OTC: INND), a manufacturer and Direct-to-Consumer distributor/retailer of FDA-Registered Hearing Aids, announced yesterday that its quarterly sales rose 281% in the quarter ending December 31, 2018 and that this increase reflects the revenue compared to Q3.
“Today’s announcement of our record-setting sales growth is in part from InnerScope’s vendor relationship with Walmart.com and the development of multiple Direct-to-Consumer hearing aid sales channels, including the launching of several eCommerce DTC websites, as well as opening several corporate owned audiological hearing aid retail clinics,” said Matthew Moore, CEO InnerScope Hearing Technologies. “Our national footprint has grown in the last quarter, in part by securing our manufacturing agreement with Zounds Hearing Inc. which played a major role for our record-setting sales by offering high quality patented hearing aids at 50% to 70% less than any of our competitors,” continued Mr. Moore.
Quest Diagnostics (NYSE: DGX), a leading provider of diagnostic information services partnered with Walmart as early as 2017. The Company announced that it will report fourth quarter and full year 2018 results on Thursday, February 14, 2019, before the market opens.
Available in 48 states to consumers, Quest Diagnostics has long been a leader in the movement for consumer empowerment in healthcare. The company further expanded convenient access to testing services through its collaborations with Safeway and Walmart, and said they expected to have well over 200 patient service centers in retail store locations by the end of 2018.
Anthem, Inc., one of the nation’s leading health benefits companies is also in on the gains. The Anthem-Walmart program, launched in January 2019, enables consumers who are enrolled in Anthem’s affiliated Medicare Advantage (MA) plans to use OTC plan allowances to purchase OTC medications and health-related items, such as first aid supplies, support braces, and pain relievers at Walmart’s 4,700 stores and on Walmart.com.
Reckitt Benckiser Group LLC (OTC: RBGLY), a global leading consumer health and hygiene company also announced a partnership with Walmart on a groundbreaking campaign that aims to provide better healthcare access for consumers. Together, the companies have collaborated on a “telehealth” initiative with Doctor on Demand, the nation’s leading virtual care provider, to make seeing doctors easier than ever before by easing the cost barrier and providing consumers with unprecedented access to high-quality, board-certified physicians on mobile phones, tablets or computers.
Another smaller vendor hoping to benefit from Walmart is Relevium Technologies Inc. (TSX.V: RLV) (OTCQB: RLLVF). In December 2018, the company announced they had launched 30 new exclusive products under its Bioganix® Gold Brand in Walmart.com
Continued: On October 11, 2018, the Company announced it was targeting to launch 30 new products under its Bioganix® Gold Brand, which sell exclusively in Walmart.com. The Company has launched 14 out of the 30 new products and the balance is currently under the normal compliance review process and are expected to be live on Walmart.com and available to Walmart Shoppers over the next two weeks.
Walmart has given a great example of how large-scale retail companies can help reshape the healthcare landscape and this may lead other company giants like Amazon into the sector as well. One thing these recent partnerships with Amazon have shown, is the mutual benefits that can come from such deals for the customer, employee and company financials. Also, as recently reported, Microsoft now has its sights set on battling Amazon in the lucrative health care market.
For the smaller vendors like InnerScope Hearing Technologies Inc. (OTC: INND), it’s great news that the giants are all stepping in.
For investors following medical technology and healthcare stocks, Investor Ideas has created a directory of biotech and medical technology stocks
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