What is going on with TNMD?
Tianrong Medical Group, Inc. (TNMD) stock surged today after the China-based company announced that its subsidiary, Sichuan HuanMedia Co. Ltd, is expanding its Big Data connectivity to the medical sector, by providing equipment such as escort beds, chairs and wheelchairs in hospitals under the publicly well-accepted share system and share payment scheme.
HuanMedia will also provide Wi-Fi connectivity for patients and visitors in hospitals, expanding the smart mobile services such as patient registration, remote patient consultation and pharmacy prescriptions to potentially 900 million Chinese citizens.
Shares of TNMD increased 11.9% to $0.659 as of Friday at 11:52am.
What does this mean for Tianrong Medical Group?
The move supports TNMD's vision to become a fully integrated technology company that provides technological solutions to the Chinese healthcare and railway industries. Over time, the company plans to expand its services to include software solutions, e-commerce, advisory services, financial services and information technology.
The management of TNMD stated, "We believe the Big Data strategy will be a highly strategic step in our business model. The investment opportunities of big data technology in China are expected to register a CAGR of 30% over the forecast period (2021 - 2026). China's growth trajectory has begun to slow in spite of the government's efforts to provide stimulus. Big data has enormous potential to revolutionize Chinese economy."
