Alere (NYSE:ALR) strengthened its standing in the mobile health market last year by acquiring MedApps. It kept the team intact and renamed it Alere Connect. Now Alere Connect, with less than 30 employees, is ramping up from 2,000 monitoring devices this year to more than 10,000 in 2014.
Motley Fool analysts Max Macaluso and Rex Moore were able to speak with Alere Connect CEO Kent Dicks at the recent mHealth Summit near Washington, D.C. When designing new products, does his company look at a particular therapeutic area first, or develop the technology first and then try to apply it to certain problems? In this segment of a four-part interview, Dicks explains that you must know your market before developing a device, and that he targets the 15% of the market that consumes 80% of health-care costs.
Max Macaluso, Ph.D. and Rex Moore have no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.
More from The Motley Fool
Why Straight Path Communications, Alere, and MoneyGram International Jumped Today
These stocks helped lead the market higher. Find out why.
Alere Inc. Shares Surge After Renewed Commitment From Abbott Laboratories
Despite a lower price, Abbott's agreement to acquire Alere Inc. gives shareholders a reason to cheer.
Alere Inc. Has Been Left for Dead, With Its Shares Down 13%
Poor Q3 results combined with allegations of submitting claims for deceased patients equals a bad day.