The Lone Worker segment of the national and global workforce is growing at a rapid pace, leading to increased demand for products that keep them safe. Toronto-based Wearable Health Solutions Inc. (OTCMKTS:WHSI) is positioned to benefit.
WHSI’s Lone Worker device is small, lightweight, waterproof and durable enough for use indoors or outdoors. Its solutions feature a multi-function button for check-in and SOS alerts, ensuring employees can get help in the event their health or safety is at risk. With Workplace hazards killing or disabling more than 100,000 workers annually according to the AFL-CIO, WHSI investors can feel good backing a positive cause.
Investors buy shares of companies like Wearable Health Solutions, however, for profits. So what is the opportunity and how likely is WHSI to capture a slice of this market?
LONE WORKER MARKET SIZE
The most recent statistics cite 53 million lone workers in the United States, Canada, and Europe combined. Making up 15% of the overall workforce.
Lone workers are in industries like:
–Healthcare
–Forestry
–Social work
–Construction
–Real Estate
Large percentages of these workforces fear for their safety. This is why the lone worker safety solutions market in North America was estimated at $56 million by Research and Markets who also projects that number to grow 50% by 2025.
With 1.1 million users in 2020, and a 50% increase projected over the next 5 years, WHSI certainly has opportunity.
LONE WORKERS GOOD FOR WHSI REVENUES
As lone workers grow so does Wearable Health Solutions’ (OTCMKTS: WHSI) revenue, which has increased more than 30% since 2019, with its current TTM (trailing twelve months) sitting at nearly $1.3MM. This growth in revenue is due, in part, to its products and services that specifically serve and improve the safety of lone workers.
The risk to these individuals is high enough that employers must consider more dependable ways to keep their people safe. Wearable Health Solutions Inc. (OTCMKTS: WHSI) has created the ideal fix for this problem, as it provides innovative and customized solutions to lone workers. With the economy reshaping itself and COVID normalizing remote work, lone workers may grow even faster than projected, WHSI is poised to capitalize on the change.
WEARABLE HEALTH SOLUTIONS INC. SAVES LONE WORKERS FROM EMERGENCIES
Lone workers face threats from a number of potential emergencies.
–Health emergencies: Even minor medical issues can become serious or life-threatening when workers are in isolated areas or are under duress and without communication options.
–Falling, being crushed, or being trapped: In cases when a worker is immobile or physically incapacitated, the ability to press their WHSI button on their chest or in their pocket can allow workers to communicate with coworkers or emergency personnel. Alerting another party to their accident or condition ensures a more prompt and helpful response.
–Violent working conditions: Meter readers, social workers, surveyors, and the like are examples of lone workers who may not work in conditions we consider dangerous. But the threat of violence or personal harm at the hands of another person is real. It may not be feasible for these individuals to make a phone call in a dangerous situation. They can turn to their WHSI wearable device to alert their coworkers and EMS to their situation and exact location.
Being a lone worker comes with a number of considerable threats, the effects of which could be devastating and even lethal. Wearable Health Solutions Inc.’s (OTCMKTS:WHSI) wearable emergency alert device and Lone Worker Program can be the difference between life and death for these workers.
INVESTORS POISED TO WIN BIG WITH WHSI
By providing this much-needed pairing of product and service to its market, Wearable Health Solutions Inc. (OTCMKTS: WHSI) can certainly expect its star to rise, its share price as well. Revenues increased 15% from 2019 to 2020, and the last reported TTM was 10% higher than 2020 revenue. At this rate the $0.0098 per share $8.83MM market cap WHSI won’t be priced this low for long.
Read how WHSI is helping seniors avoid nursing homes: https://www.drpjournal.com/wearable-health-solutions-otcmktswhsi-to-benefit-from-aging-independent-population/