CHICAGO - Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO), a company specializing in AI-driven precision cardiovascular medicine, has announced the expansion of its HeartRisk™ platform across the United States. This development extends the platform's capabilities to include federal and state correctional facilities, risk-bearing providers, and broker and benefits organizations.
The HeartRisk platform integrates anonymized and aggregated clinical cardiovascular data with industry and geographic information to provide real-time, population-level cardiovascular disease (CVD) risk insights. The expansion is aimed at addressing the financial and security challenges of scaling access to cardiovascular testing across diverse sectors, including the unique environment of correctional facilities.
According to Meesha Dogan, Ph.D., CEO and Co-Founder of Cardio Diagnostics, the expansion is a strategic move to innovate not just within traditional healthcare sectors but also to introduce precision cardiovascular solutions to various markets. The platform's data intelligence, coupled with evidence-based clinical tests, is designed to enable healthcare stakeholders to make informed decisions to manage healthcare costs and chronic disease more effectively.
For risk-bearing providers, the HeartRisk platform allows for better management of shared-risk and value-based contracts by identifying at-risk populations and understanding heart disease drivers. Family Medicine Specialists, for example, have implemented Cardio Diagnostics' tests in their patient population with CHD risk factors, marking a first in leveraging precision epigenetics-based heart disease technologies with a population health intelligence tool.
The platform also provides employers with insights into workforce health trends, including cardiovascular risks, which can help reduce healthcare costs and promote a health-conscious workplace culture.
The information in this article is based on a press release statement from Cardio Diagnostics Holdings, Inc.
InvestingPro Insights
As Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) broadens the reach of its HeartRisk™ platform, the financial health of the company is a key factor for investors watching the precision cardiovascular medicine space. With a market capitalization of 38.62 million USD, CDIO is a niche player in the healthcare industry, albeit one with significant growth potential given the innovative nature of its offerings. The company's revenue has seen a dramatic increase of 1310.1% in the last twelve months as of Q3 2023, indicating a strong market interest in its services.
Despite this impressive revenue growth, CDIO is not currently profitable, with a negative P/E ratio of -1.57 and an adjusted P/E ratio for the same period of -4.15. This reflects the challenges the company faces as it scales up operations and invests heavily in its platform. Additionally, the stock's price volatility is noteworthy, with a 1 Month Price Total Return as of Y2024.D46 of -30.15%, yet a substantial 6 Month Price Total Return of 94.68%, showcasing the high-risk, high-reward nature of investing in such a dynamic sector.
InvestingPro Tips for CDIO suggest that while analysts anticipate sales growth in the current year, they do not expect the company to be profitable within this timeframe. Also, the stock is known for its high price volatility, which could be an important consideration for investors with a lower risk tolerance.
To gain more insights and access additional InvestingPro Tips for Cardio Diagnostics Holdings, Inc., investors can explore the detailed analysis available at InvestingPro. There are currently 14 additional tips listed on InvestingPro, providing a comprehensive view of the company's financial health and stock performance. For those interested in a subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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