MindLeap Health Enters into Fast-Growing Telehealth Market
September 29th, 2020
App, Exclusive, Psychedelics, Top Story
The COVID-19 pandemic has led to dramatic changes in healthcare. In addition to mobilizing a vaccine in record time, the pandemic could permanently alter the way that many people seek medical care, shifting from in-person to telehealth. These changes have created an enormous opportunity for companies to innovate in the remote delivery of health services.
Telehealth Poised for Growth
The telehealth market is projected to become a nearly $560 billion market by 2027, according to Fortune Business Insights™, which represents a blistering 25.2% compound annual growth rate. While the COVID-19 pandemic has accelerated demand for e-visits, telehealth also offers easier access to required doctors, lower patient waiting times and greater cost efficiency.
Growth in the Global Telehealth Market – Source: Grand View Research
These growth rates have led to strong growth among the handful of public companies focused on telehealth. There has also been growing M&A interest in the space following Teladoc Health’s move to acquire InTouch Health and Zava’s $32 million Series A that was funded by HPE Growth, representing a significant investment in the space.
Performance of Telehealth Public Companies – Source: Yahoo! Finance
MindLeap Launches Platform
MindLeap Health recently launched a telehealth platform that will be officially available on Apple iOS and Google Android stores on September 30, 2020. The platform enables users to browse vetted and experienced specialists, easily schedule appointments and purchase mental health services through an intuitive and easy to use application.
Mental health specialists using the MindLeap platform can easily manage their virtual practice on their own terms by setting their own prices and choosing the hours that they work each week. MindLeap takes a 9% cut of each session’s fee in exchange for providing access to its built-in user base and technology.
Click the image to see an introduction to the MindLeap app and gain early access
Unlike other mental health platforms, MindLeap is uniquely designed to offer psychedelic integration services with over 30 professionals able to offer mental health support. These specialists can help clients through a systematic process that turns psychedelic experiences into something practical—although they don’t remotely guide the actual experiences.
Mydecine Innovation Group (CSE: MYCO) (OTC: MYCOF) (FFT: 0NF) is uniquely positioned to benefit from the growth in the telehealth market, and in particular, growing demand for mental health services. As the psychedelic market matures, the company’s platform has an opportunity to experience significant growth as other telemedicine companies in this enormous and fast growing market.
In addition to MindLeap, Mydecine Innovation Group is conducting the world’s first clinical trial of psilocybin for the treatment of post-traumatic stress disorder, or PTSD, a market worth $7.8 billion. The company is entering into Phase I clinical trials this month and has various other psychedelic drug candidates in development at their laboratories in Denver and Alberta.
Investors may want to take a closer look at the stock given its unique exposure to two rapidly growing markets—telehealth and psychedelics.
Sign up here to get access to the Mindleap app.
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