New York, July 30, 2020 (GLOBE NEWSWIRE) -- Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X Telemedicine & Digital Health ETF (EDOC), joining the firm’s comprehensive suite of 20 thematic growth offerings. EDOC invests in companies involved in Telemedicine, Health Care Analytics, Connected Health Care Devices, and Administrative Digitization.
The global health care industry faces many challenges that are exacerbated by the continuation of the COVID-19 pandemic, including sub-optimal patient outcomes, rapidly rising costs, inefficient systems, and limited access. The accelerating adoption of telemedicine and the digitalization of health care has the potential to address each of these concerns by effectively leveraging cutting-edge technologies. For example, though the pandemic forced many to quarantine within the confines of their homes, telemedicine enables continued connection between patients and their doctors without additional risk of infection. McKinsey & Company estimates that $250 billion of health care spend could be virtualized via telehealth solutions, and that the COVID-19 pandemic has already spurred a 50 to 175-fold increase in telehealth visits.
Further, overhauling health care systems to effectively capture, share and analyze data could increase efficiency, accuracy, and ultimately improve patient outcomes. Integrated digital health solutions can streamline digital recordkeeping, enable patient data to be shared between doctors, allow for the real-time remote monitoring of patients, and facilitate the analysis of symptoms and treatments across population groups. According to the OECD, while most member countries are capturing some form of electronic medical records, just 70% of countries make these records available to patients, and only 64% share these records in an integrated network across providers. This sub-optimal use of digital records has compounding implications: 10% of patients are unnecessarily harmed during care, while as much as 15% of hospital expenditures and trillions of dollars of economic drag come from health care inefficiencies.
“Despite groundbreaking advancements in genomics, pharmaceuticals, and biomedical devices, many aspects of the global health care system remain entrenched in outdated and analog processes,” said Luis Berruga, CEO at Global X ETFs. “The accelerating adoption of telemedicine solutions over recent months puts into focus the immense benefits that digital technologies can have across the health care sector. We’re excited to launch EDOC and provide investors with targeted access to this disruptive theme.”
EDOC will track the Solactive Telemedicine & Digital Health Index.
About Global X ETFs
Global X was founded in 2008 with the mission of listening to and empowering clients to invest wisely in unexplored and intelligent solutions. Our product lineup features more than 70 ETF strategies. While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Alpha funds to suit a wide range of investment objectives. Global X is a member of Mirae Asset Global Investments Group, a Seoul-based global enterprise which offers asset management expertise worldwide. Explore our ETFs, research and insights, and more at www.globalxetfs.com.
Disclosures:
Investing involves risk, including the possible loss of principal. The investable universe ofcompanies in which EDOC may invest may be limited. The Fund invests in securities of companies engaged in the Health Care and Information Technology sectors. These sectors can be affected by government regulations, rapid product obsolescence, intense industry competition and loss or impairment of patents or intellectual property rights. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. EDOC is non-diversified.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Global X NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.
Carefully consider the Fund's investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund's summary or full prospectuses which may be obtained by calling 1-888-493-8631, or by visiting www.globalxetfs.com. Please read the prospectus carefully before investing.
Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Solactive AG, nor does Solactive AG make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with Solactive AG.