For many people, the coronavirus pandemic has changed their nutrition and exercise habits. One app helping people track their food and lose weight is called Lifesum. The company has scaled rapidly to 45 million users and boasts many impressive partnerships with popular tech companies.
Fool.com's Healthcare and Cannabis Bureau Chief Corinne Cardina chatted with Lifesum's CEO Henrik Torstensson about stocks in the digital health and wellness space including Teladoc (TDOC -1.15%) and Veeva Systems (VEEV -1.10%)
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Corinne Cardina: I'd like to talk a little bit more about the U.S. market in digital health. On Fool.com, we're investors, so we love to look at some of the public companies and the digital health companies, particularly in telehealth, that's been a big buzzword this year, we have been on a pretty wild ride since the pandemic began. The telehealth pioneer, Teladoc, is at more than 200% since the start of March, reflecting its record setting number of telehealth visits. There's Veeva Systems, which sells cloud software for life sciences companies, that's up 300% since March. Primary care chain One Medical, their parent company, 1Life Health (ONEM), IPO'd earlier this year, it's up 30%. So, I'm loving all of your insight on the digital health industry and I would love to know, what do you think about these types of stocks? Are they overhyped? Are they fairly valued? Or do you think we're just seeing the beginning and so they're really trading at a bargain still?
Henrik Torstensson: I think that's obviously the million-dollar question. I can look at it as an operator. The healthcare market is enormous in itself. Digital is really happening. As with any market, when you have those two combinations and through demand from users and consumers, payers, there's going to be winners and losers. So then, you need to go in and look at individual companies. I have spent 110% of my time on operating Lifesum so I can't go in and say, this is going to be the winner, this is not going to be the winner. But I'd be extremely surprised if there aren't multiple winners in this sector.