Kallo, Inc. (OTCQB:KALO) announced this week that the Republic of Ghana had invited the company to visit Ghana’s capital, Accra, for final discussions regarding distribution and operation of Kallo’s Mobile Care Clinics. These clinics would allow physicians to provide medical care in underserved rural areas.
Kallo, “a medical information company, engages in the manufacturing and development of software that assists physicians and nurses to streamline patient information. Its software solution includes Electronic Medical Record software (EMR) and connectivity software that gathers medical information from various sources and deposits it into a single source as an electronic medical record for each patient.”
Besides the EMR software, Kallo markets a medical device connectivity product which connects medical devices to clinical applications and automatically updates electronic medical records. A third product, named Picture Archival and Communication System allows instant retrieval and transfer of images such as X-rays and ultrasounds from anywhere in the world.
The overall goal of these products is to streamline operations and reduce errors. Patient data is available in one place and organized in an understandable fashion. Automatic updating of EMRs from medical devices reduces errors and staff time.
Earlier stage products the company says it is working on are an internet-based solution for monitoring and managing communicable and infectious disease information, a “clinical-care globalization technology” intended to capitalize on medical tourism and the above-noted mobile care clinics.
Kallo has recorded almost no revenues since inception in 2006, and that appears to have been earned before Kallo switched to its current business in late 2009. But it has raised enough capital to have a positive stockholders’ equity balance as of March 31, 2012, the date of the latest financial statements released publicly.
The market for electronic medical record systems is expected to grow over the next few years at least. It will be interesting to see if Kallo can meet the competition and reach profitability.
To visit the company’s website, click here.