Top OTC Emerging Medical Technology Stocks for 2024 (TBRIF, HTLZF, PYNKF, VPTDF)

In the ever-changing landscape of health and medical technology, innovation is more than just a trend; it is a driving force shaping healthcare’s future. As advancements in science and technology continue to accelerate, the opportunities presented within these fields are both vast and compelling. From cutting-edge diagnostic tools to revolutionary treatment approaches, health and medical technology are not only transforming patient care but also creating a dynamic environment ripe with potential for investors, researchers, and industry pioneers.

In this era of unprecedented growth, the intersection of healthcare and technology beckons as a promising frontier, promising not only improved patient outcomes but also substantial opportunities for those at the forefront of innovation.

While investors may face the challenge of sifting through a multitude of medical device stocks vying for breakthrough designations, here are some well-established players that appear poised to capitalize on this multi-billion-dollar market.

In the dynamic landscape of medical diagnostics and device innovation, Toronto-based Therma Bright (OTCQB: TBRIF) (TSXV: THRM) stands out as a frontrunner, committed to addressing critical healthcare challenges through cutting-edge technologies.

At the forefront of Therma Bright’s offerings is the Respiratory Health Portfolio, featuring the Digital Cough Test (DCT) app-a collaborative effort with AI4LYF. Harnessing the power of artificial intelligence, this app analyzes cough sounds, boasting an impressive accuracy rate of over 94% in detecting respiratory diseases, including the formidable COVID-19.

Diversifying its impact, Therma Bright’s Consumer Health portfolio introduces three distinct devices tailored to various health needs. The Benepod Hot and Cold Contrast Therapy Device targets chronic pain relief, offering a versatile solution. For preventing cold sores, InterceptCS takes the spotlight, while TherOZap utilizes thermal therapy to address insect bites and stings, providing a comprehensive approach to consumer health.

In the area of vascular health, Therma Bright presents two noteworthy devices. The Venowave is a small, lightweight device that prevents deep vein thrombosis (DVT) by improving blood flow and preventing blood clot formation through a continuous wave motion. Additionally, in animal studies, their second device in vascular health, the PREVA clot-retrieving device, uses a distal basket and achieves an amazing 100% clot removal rate, which paved the way for regulatory approval and proved Therma Bright’s dedication to creating solutions for vascular disease.

In a significant stride towards bringing its cutting-edge technology to the forefront of healthcare, Therma Bright Inc. recently announced a pivotal development in its AI-driven Digital Cough Analyzer (DCA) project. The company, in collaboration with AI4LYF, has prepared a comprehensive FDA 513(g) Review Document for the DCA, signaling its readiness to engage with the U.S. Food and Drug Administration.

The Digital Cough Analyzer stands out as a groundbreaking solution, offering a robust set of features for both users and medical practitioners through an Android and iOS mobile app and a clinician dashboard. The 513(g) request represents a crucial step for Therma Bright, seeking information from the FDA on the classification and regulatory requirements for its acoustic AI digital cough technology. The ultimate goal is to position the DCA as a remote therapeutic monitoring (RTM) solution.

“Our Digital Cough Analyzer, designed and developed by AI4LYF under exclusive license to Therma Bright, offers a unique set of features not available in today’s market,” said Rob Fia, CEO of Therma Bright. Fia highlighted the dual focus on user and medical practitioner needs, making it a versatile tool for patient care.

The Digital Cough Analyzer’s mobile app introduces AI-based cough detection, ensuring privacy by distinguishing cough sounds from non-cough sounds. The continuous cough counter automatically tallies coughs with a continuous recording, preserving privacy by saving only cough sounds. Users have control over their data, with options to schedule recording times, store data on their devices or in the cloud, and share selected data with their doctors for medical and research purposes.

As Therma Bright awaits FDA clearance, the anticipation grows for the commercialization of this innovative solution, poised to make a positive impact on healthcare providers and patients alike across the United States. The company’s commitment to advancing medical diagnostics and device technology remains steadfast, offering a glimpse into the future of healthcare solutions.

Hamilton Thorne (TSX: HTL) (OTC: HTLZF) is a global leader in providing precision instruments, consumables, software, and services to various markets, with a primary focus on Assisted Reproductive Technologies (ART), research, and cell biology. The company operates in in vitro fertilization (IVF) clinics, research centers, animal breeding facilities, and biotechnology sectors worldwide.

In a recent development, Hamilton Thorne made headlines with its acquisition of Gynetics Medical Products N.V., a leading manufacturer based in Lommel, Belgium. This strategic move not only strengthens Hamilton Thorne’s footprint in consumables within the ART market but also expands its expertise, manufacturing capabilities, and product offerings in the growing European IVF market.

Gynetics is recognized globally for its innovative, high-quality IVF devices. The acquisition contributes significantly to Hamilton Thorne’s consumables product portfolio, with Gynetics’ premium offerings including its own-branded embryo transfer catheters and ovum pick-up needles used in both IVF clinic procedures and laboratories. The acquisition also diversifies Hamilton Thorne’s revenue base, with approximately 20% of Gynetics sales historically made to Hamilton Thorne.

The transaction, valued at approximately 18.3 million (US$19.4 million), was financed through a combination of an expansion of the existing credit facility, cash on hand, and share consideration with the seller. This move is expected to be immediately accretive to revenue and adjusted EBITDA, enhancing Hamilton Thorne’s position in the European ART market.

David Wolf, President and Chief Executive Officer of Hamilton Thorne, expressed enthusiasm about the acquisition, highlighting its positive impact on the company’s presence in the European ART market and the diversification of revenue streams through the sale of consumable products.

In their latest financial report, Hamilton Thorne demonstrated robust performance, with a 16% year-over-year increase in sales to $15.7 million for the quarter and a 17% increase to $41.8 million for the nine-month period. Gross profit increased by 18% to $7.7 million for the quarter, reflecting the company’s strong position in high-margin, recurring revenue categories like consumables, software, and services.

Despite challenges in equipment sales to China, Hamilton Thorne’s overall growth, especially in consumables, software, and services, remained strong. The acquisition of Gynetics further contributes to the positive outlook, expanding the company’s addressable market and increasing the percentage of recurring revenues.

In summary, Hamilton Thorne’s recent acquisition and strong financial performance position the company as a key player in the global ART market, with a focus on delivering high-quality products and services, fostering growth, and driving innovation in reproductive technologies.

Perimeter Medical Imaging AI (OTC:PYNKF) (TSX-V:PINK) is a cutting-edge medical technology company dedicated to revolutionizing cancer surgery by providing ultra-high-resolution, real-time advanced imaging tools to address critical areas of unmet medical need. Operating across the U.S., the company’s FDA-cleared Perimeter S-Series OCT system delivers real-time, cross-sectional visualization of excised tissues at the cellular level, offering a breakthrough in cancer surgery technology.

The company recently initiated a pivotal clinical trial for its investigational Perimeter B-Series OCT with ImgAssist AI software. This next-generation artificial intelligence technology is designed to enhance margin visualization during breast conservation surgeries. With support from a grant of up to US$7.4 million from the Cancer Prevention and Research Institute of Texas, Perimeter aims to integrate AI with high-resolution imaging to potentially reduce the need for repeat surgeries, ultimately improving patient outcomes.

In a significant move, Perimeter expanded its clinical trial sites, including the University of Washington/Fred Hutch Cancer Center in Seattle, WA. Dr. Meghan R. Flanagan of the University of Washington/Fred Hutch Cancer Center highlighted the potential of combining AI with high-resolution imaging to become a new standard of care, reducing the need for repeat surgeries.

In its third quarter, Perimeter reported encouraging developments, such as moving on to the next phase of a grant funding program supported by the Advanced Research Projects Agency for Health. The company successfully aligned with the FDA on key elements of its ongoing clinical trial, introducing enhanced AI software and initiating additional clinical trial sites at Mayo Clinic in Florida.

Perimeter’s CEO, Adrian Mendes, expressed satisfaction with the progress made, emphasizing the focus on advancing next-gen AI technology in clinical development. The integration of improved AI into the clinical trial and the addition of three more clinical trial sites demonstrate the company’s commitment to providing real-time margin assessment during breast conservation surgery.

The latest announcement highlights a follow-on commercial placement of Perimeter’s flagship S-Series OCT system at a new hospital site within one of the largest healthcare networks in North Texas. This placement underscores the growing recognition of Perimeter’s technology within the healthcare system and the company’s ambition to establish its innovative technology as the standard of care in cancer surgery.

Perimeter Medical Imaging AI’s commitment to advancing cancer surgery technology, coupled with its strategic clinical trials and commercial placements, positions the company at the forefront of delivering transformative solutions for improved patient outcomes and reduced healthcare costs.

Ventripoint Diagnostics Ltd. (OTC:VPTDF) (TSXV:VPT) has emerged as a frontrunner in applying artificial intelligence (AI) to echocardiography, revolutionizing the field with its VMS products fueled by proprietary KBR technology. Developed over a decade, this technology delivers precise volumetric cardiac measurements akin to MRI at a significantly lower cost. The game-changing aspect lies in its versatility, as VMS+ seamlessly integrates with ultrasound systems from any vendor, holding regulatory market approvals in the U.S., Europe, and Canada.

On December 5, 2023, Ventripoint received a noteworthy endorsement from the Ollie Hinkle Heart Foundation (OHHF). The foundation selected Ventripoint’s AI-powered heart-imaging technology as one of three AI systems to introduce to U.S. hospitals. This strategic move by OHHF aligns with Ventripoint’s mission of providing a less invasive and more efficient alternative to traditional MRI heart scans. The technology’s impact is particularly profound for pediatric patients, eliminating the need for complex MRI procedures and allowing scans to be conducted in a child’s room or even a cardiologist’s office.

The partnership with OHHF aims to integrate Ventripoint into the Take Heart program, bringing together 13 U.S. hospital partners initially, with 30 more expected to join. The goal is to establish Ventripoint as a standard of care, offering an affordable and rapid alternative to conventional MRI heart scans.

Furthermore, on December 12, 2023, Ventripoint entered into a global distribution and marketing agreement with ASCEND Cardiovascular, a leader in diagnostic and imaging technologies for cardiac healthcare. This collaboration integrates Ventripoint’s AI-powered heart-scanning technology into ASCEND’s extensive network, with an initial two-year term for North American markets. The alliance aims to provide reliable and effective tools to clinicians globally, enhancing cardiovascular health technology.

Ventripoint’s technology, now in commercialization, has garnered acclaim from leading hospitals and the British Heart Foundation. The collaboration with ASCEND Cardiovascular signifies a commitment to ongoing innovation and excellence in cardiovascular health technology. As the partnership evolves, both companies strive to optimize existing technologies and explore new treatment possibilities, ensuring a cost-effective addition to the cardiovascular healthcare system.

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