G Medical Innovations’ CEO Issues Update to Shareholders, August 2023

Rehovot, Israel, Aug. 07, 2023 (GLOBE NEWSWIRE) -- G Medical Innovations Holdings Ltd. (Nasdaq: GMVD) (“G Medical Innovations” or the “Company”), a global leader in next-generation mobile health (mHealth) and digital health, today issued the following update to shareholders from President and CEO Dr. Yacov Geva.

Dear Fellow Shareholders,

We are proud to report that at this halfway point of 2023, G Medical has met several significant milestones and is on track to show revenue growth and gain profitability. Our Company has experienced growth in its monitoring services, and we are getting ready to add revenue with our “At Home Test Kits” business unit as we are now prepared to fully launch our fully stocked CLIA lab in Austin, TX. Our business currently consists of 3 verticals which include:

	·	The vitals monitoring business (the core monitoring business of the Spider and G Patch as well as the Prizma for remote patient monitoring with our 2 medical monitoring call centers in Austin TX and Memphis TN);
	·	The 31 At Home Tests Kits; and
	·	The R&D in Israel that continues to develop the next generation of our monitoring solutions and algorithms.

Remote Health Monitoring (“RHM”)

Our RHMs business unit has been restructuring change to realize increased revenues. We have shifted our sales and marketing efforts to focus on providing our RHM devices and services to larger health care facility networks and away from single doctors and/or smaller health clinics.

Specifically, we recently announced several collaboration agreements for our RHM devices and services with AdventHealth of Central Florida, an operator of 20 hospitals and emergency rooms serving an average of 5.7 million patient visits per year in Central Florida. We have also recently teamed with Memorial Hermann Health Systems, one of the largest healthcare systems in Southeast Texas, including 17 award-winning and nationally acclaimed healthcare facilities, to sell our mobile cardiac telemetry devices and related services.