ETF Managers Group, in partnership with PureFunds, has launched the PureFunds ETFx HealthTech ETF (IMED).
Trading on the NASDAQ, IMED invests in companies that are providing new solutions and transformative technology to the healthcare and medical industries.
All of its 60 constituents are engaged in healthcare informatics, medical instruments and/or medical appliances.
“IMED’s key differentiator is an investment thesis around the premise that companies successfully practicing interdisciplinary convergence may lead in their respective markets,” says Andrew Chanin, CEO of PureFunds. “We believe that we are in the early phases of the era of convergence in the broader healthcare technology segment and on the cusp of transformative solutions coming to market. As an example, the next phases of healthcare informatics will leverage areas as diverse as nanotechnologies, advanced sensors, predictive big data analytics, cloud computing and virtual reality to bring about yet another paradigm shift to cut costs and boost operational efficiencies. IMED is intended to serve as a vehicle for investors to gain exposure to this highly innovative, technology-driven slice of the broader healthcare sector.”
Sam Masucci, founder and CEO of ETF Managers Group, says: “I think investors will be surprised to see the exposure that IMED offers; these health technology companies do not receive the same media attention as large healthcare providers or biotechs developing new drugs yet it is their aim to fix the systemic problems in healthcare and greatly improve on the time and price efficiencies of getting quality healthcare to the public.”
“As costs continue to pile up in the rapidly changing healthcare industry, hospitals, providers, doctors and others who work in the space are becoming heavily reliant on technological advances and improvements to save time and money,” says Elias Azrak, co-founder of ETFx Investment Partners. “IMED presents an intriguing opportunity to tap into this technological renaissance taking place in the healthcare field.”