Opyl (ASX:OPL) has launched a new company name and brand it says signals its entry into the global digital health and artificial intelligence (AI) market.
At the company's annual general meeting, shareholders approved the change from ShareRoot to Opyl.
The company uses AI-assisted technologies to provide biopharmaceutical and health organisations with an opportunity to collect and analyse clinical health data and real-world data, in particular data that patients are creating on wearables, apps and social media, to better understand and improve healthcare design, development and delivery.
According to CEO Michelle Gallaher, “At last, via social media and patient generated data, we can put the final piece of the puzzle into place and genuinely understand the real lived experience of people managing illness, injury and disorders. Hearing millions of patients’ and carers’ voices for the first time-in their own words shared to social media platforms is an extraordinary insight that few in the health sector have been able to access until now.
“Patient stories and information shared to social networks gives us an ability to understand what their needs are and how they are not being met, identifying gaps where new technologies can be developed, predict the spread of infectious diseases, identify shortcomings in health and wellness education, improve compliance, identify new clinical intervention opportunities and opening up a novel way for patients to participate in medical research as partners. Our vision is to give patients control and agency over all their health data, not just electronic health records”.
“Opyl recognises the value of using data to personalise and improve the health and wellness of everybody, but our ability to do so will always rest on a patient’s willingness to participate. Privacy by design and consent will govern everything we do as a company. We will only access publicly available information shared or consented directly by the patient or carer,” continued Ms Gallaher.
Ms Gallaher added, “A clearly articulated, and purpose-aligned brand and value proposition is a very significant asset, particularly for a start-up or company pivoting into a new market. As we have moved focus over the past six months from martech into data analytics and digital activation in healthcare, our company brand was misaligned with our purpose and our offering to the health market. It was like wearing clothes that didn’t fit, giving the wrong impression of who we are.
“Digital and data technologies will play an increasingly disruptive role in transforming health, clinical research and activating patients to be partners in their health care. I’m very excited to explore and bring into practice evolving digital tools that can personalise the health and wellness experience within a considered and ethical framework, where patients are recognised as partners and are empowered and incentivised to manage their data directly,” added Ms Gallaher.