Fund manager BetaShares announced on Thursday the upcoming launch of the BetaShares Digital Health and Telemedicine ETF (EDOC).
Having recognised the increasing use of digital healthcare services over the course of the COVID-19 pandemic, BetaShares has tailored EDOC to provide exposure to up to 50 leading global digital healthcare and telemedicine companies.
“EDOC will offer investors convenient and cost-effective access to global leaders in the digital healthcare and telemedicine sector,” BetaShares CEO Alex Vynokur said.
“In a single trade, investors will be able to get exposure to a diversified portfolio of companies that are revolutionising the way people access healthcare.”
To qualify for inclusion in the EDOC, companies must be engaged in sectors such as digital healthcare, connected medical devices, remote patient monitoring, telehealth or wearable products.
EDOC’s index constituents currently include global leaders in the healthcare sector such as Boston Scientific, Abbott and Resmed.
“We believe digital healthcare is a long-term secular growth story – enabling more convenient, comprehensive and efficient care for patients,” Mr Vynokur said.
“Global spending on healthcare is set to grow as the global population ages and income levels rise. Digital healthcare solutions are forecast to be a significant part of this increased spending as technological innovation reduces costs, improves quality and expands access to healthcare for millions across the globe.”
EDOC, Mr Vynokur said, represents another step in BetaShares’ plan to expand its range of ETFs that offer investors exposure to high conviction megatrends that will play out over the decades ahead.
EDOC will be the 12th addition to BetaShares’ range of thematic ETFs. Subject to regulatory approvals, EDOC is expected to start trading on the ASX at the end of March 2022.
Maja Garaca Djurdjevic
Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.
