In Today’s Talking Points: Wattle Health Australia expands infant formula business in mainland China, Australia wins landmark World Trade Organisation ruling on tobacco, Minister hunt orders investigation into HealthEngine app over data sharing breaches and Artificial intelligence may have significant contributions to healthcare, especially in China.
Wattle Health Australia expands infant formula business in mainland China
Wattle Health Australia (ASX:WHA) has agreed on a deal with Shandong Weihai Port International Trade Co for the supply of Wattle’s cow infant formula range. The agreement represents approximately A$34 million in revenue for Wattle over the coming three years, with the future of the deal to be negotiated.
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Australia wins landmark World Trade Organisation ruling on tobacco
A panel of judges at the World Trade Organisation rejected arguments brought by Cuba, Indonesia, Honduras and the Dominican Republic over a major trade dispute involving plain packaging laws. Released by the Gillard Government in 2011, the win for Australia effectively allows other countries to introduce plain packaging laws. Honduras will appeal, claiming errors in the judgment.
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Minister hunt orders investigation into HealthEngine app over data sharing breaches
Health Minister Greg Hunt has ordered an “urgent review” of Australia’s biggest doctor appointment service HealthEngine after the Australian Broadcasting Corporation reported that the app had funnelled hundreds of users’ private medical information to law firms seeking clients for personal injury claism. HealthEngine says that it only shares information with user consent, but a patient cannot opt-out of the fine print about giving information to third parties. HealthEngine is owned by Telstra and SevenWestMedia and has 15 million annual users.
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Artificial intelligence may have significant contributions to healthcare, especially in China
According to consultancy firm Frost & Sullivan, artificial intelligence might have the potential to improve medical treatment by 30-40% and reduce costs by 50%. The firm states that the benefits of artificial intelligence will be most felt in China due to its aging massive population. Artificial intelligence financing is greatest in the United States at US$17.9bn, with China coming in second at US$2.6bn.
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