The Internet of Things has emerged as the technology trend that all investors need to watch. With the potential to change virtually every aspect of our daily lives, from something as mundane as driving a car to the way we consume media, the Internet of Things has been touted as a multitrillion-dollar opportunity. Private companies such as Jasper are making waves in this space, as are some of today's most recognizable publicly traded tech giants, including Apple, Google, and Cisco.
Many of these companies aim to make day-to-day life easier for consumers, but can this technology also be used to transform medicine? What about the concepts of connected patients and digital health? How can patients and physicians stay connected to make the health-care system more efficient?
Proteus Digital Health, a "smart pill" pioneer, is trying to provide answers to these complex questions.
The company's flagship product, the Helius system, is powered by an FDA-approved ingestible sensor that not only allows patients to better monitor their health, but also lets physicians or family members track whether patients are taking their prescribed medications. The sensor works alongside a patch that can provide both patients and providers with more comprehensive data (it also functions as an activity and sleep tracker).
Proteus, a private company, has partnerships with pharmaceutical companies Novartis and Otsuka Pharmaceutical, but is targeting consumers and health-care providers with its product. Last week, it announced $120 million in new investments as it continues to work on its commercialization strategy and new products.
In the following video, Motley Fool tech analysts Eric Bleeker and Max Macaluso discuss the potential of Proteus' product, possible extensions of the company's technology, and how the Internet of Things is poised to revolutionize medicine.
Eric Bleeker, CFA owns shares of Cisco Systems. Max Macaluso, Ph.D. owns shares of Apple. The Motley Fool recommends Amazon.com, Apple, Cisco Systems, and Google (A shares). The Motley Fool owns shares of Amazon.com, Apple, and Google (A shares). 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.