NEW YORK, May 27, 2020 (GLOBE NEWSWIRE) -- Exxe Group, Inc. (OTC PINK: AXXA), a diversified company focused on synergistic acquisitions in real estate, digital platforms, financial services and agribusiness, announced today that via the Axxa Venture Fund, the Company is entering the telemedicine market, which is swiftly transforming the entire global health care landscape.
According to an April 2020 industry report issued by Grandview Research, the global telemedicine market is projected to grow from $41.1 Billion in 2019 to $155.1 Billion in 2027. The core growth has been driven by new capabilities to monitor various chronic conditions, home healthcare monitoring for aging populations, and the demand for self-governing. At its core, telemedicine reduces emergency room, hospitalization, and doctor visits. However, the current COVID-19 pandemic, which prompted lockdowns of billions of people, has overnight demonstrated that first-rate care across the spectrum can be given with merely an internet or mobile connection or access to a computer. As a result, it is expected that the percentage of patients using telemedicine in the US alone is projected to reach 50% in the coming months.
Against this backdrop, one of the Fund’s investee companies has been developing and implementing via beta tests, a transformative telemedicine rehabilitation platform along with a suite of applications designed to improve existing techniques used for patients undergoing various stages of rehab. As a stand-alone platform, or core application which can be integrated into existing rehabilitation therapies, this novel, patented technology could be used to treat tens of millions of cases each year worldwide.
One key benefit of this new technology is it guarantees the safety of medical professionals and patients as a number-one priority. Our telehealth apps promote delivery of prompt, quality, and affordable medical care in the privacy and safety of one's home, while maintaining the guidelines of social distancing being implemented worldwide. Through our international management-consultancy network, Exxe Group is implementing an aggressive plan of adoption of our technology to multiple markets simultaneously. The pandemic created an environment and eagerness by healthcare providers to swiftly test and integrate our systems into their patient treatment methodologies. The startup is already generating revenues and we anticipate exponential revenue growth in the future that will result in appreciation of Exxe Group’s shareholder value.
Eduard Nazmiev, CEO and President of Exxe Group, commented on the new opportunity: “We are very excited about all of the companies in the Axxa Venture Fund. However, given the huge shift in the way medicine is now practiced thanks to broad acceptance and utilization of telemedicine, we at Exxe see the key health care trends and we plan to be very active in health care going forward. One of the interesting strategies we may engage to broaden the technology’s reach is partnerships. Due to the nature of the platform, regional partners may wish to license it for use in key hospitals and rehab centers in their home countries. Since the platform is a rehab productivity tool that leverages telemedicine apps, its revenue opportunity for our side, as well as the customer side, is greater than a typical telemedicine monitoring approach. Therefore, millions can be generated in the first year of sales.”
About Exxe Group, Inc.
Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, sustainable technology, media, agribusiness, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com, www.axxavc.com, twitter.com/exxegroup
CONTACT: Exxe Group IR: info@exxegroup.com
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