Nearly everyone in the world comes into contact with Qualcomm's (NASDAQ:QCOM) technology in the form of wireless service, but most are unaware of the tech company's involvement in mobile health.
At the recent mHealth Summit near Washington, D.C., the Fool's Max Macaluso and Rex Moore were able to speak with Robert McCray of the Wireless-Life Sciences Alliance. Rob explained what it takes to provide a connected health care system. Such systems are built on a stack of technologies that enable mobile phones and other mobile devices, the Internet, the cloud, massive data storage, and analytics. Those are the key technologies that enable wireless mobile and connected health.
In this video, Rob explains Qualcomm's involvement. A full transcript follows the video.
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Max Macaluso: Can you talk more specifically about what Qualcomm is doing in this space? I know they're seen more by investors as a pure tech company, and I'm not sure a lot of people know that they do anything in health.
Robert McCray: Yes. They are a tech company, right? Their technology is in every 4G and 3G service around the globe, so six billion people use a little bit of Qualcomm's IP, whether they know about it or not -- and that's fundamentally what the company is.
In health care though, they've created a health care division called Qualcomm Life, and it's a service play. They've created a secure platform that makes it easy for companies large and small that want to put a medical device in a home, to collect information from that device in a secure way -- in a way that complies with federal and state law on what to do with health data -- and deliver it to a secure cloud-based location, from which the company, providers, doctors, patients can use it.
Qualcomm is enabling connected health.
Rex Moore has no position in any stocks mentioned. The Motley Fool owns shares of Qualcomm. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.