Healthcare technology continues to offer a powerful combination of health care investing durability and tech innovation upside. In an uncertain market, the segment can often prove a reliable source of performance for portfolios. Recent, exciting news for Grail, Inc (GRAL) and its early cancer detection services represent a catalyst for the space, boosting the prospect of healthcare tech ETF funds like HTEC, the ROBO Global Healthcare Technology and Innovation ETF.
GRAL joined Samsung (SSNLF) in announcing plans to deliver the latter’s Galleri Multi-Cancer Early Detection Test to Asia, per a recent press release. The move will see the Korean giant invest $110 million into GRAL. Initially focused on South Korea, the agreement could expand to Japan and Singapore markets, as well.
Not only does the agreement mark a major market expansion for early cancer detection and GRAL, but also a key cash injection. The capital can boost the firm’s stability as it works towards FDA approval in the United States.
Intriguingly, the landmark deal also signals positive momentum for the wider Multi-Cancer Early Detection (MCED) market. Companies like Guardant Health (GH) and Exact Sciences (EXAS) may benefit from broader momentum for the segment. Should GRAL open up regulatory lanes and standards in East Asia, those companies could potentially follow.
The healthcare technology ETF HTEC offers a way to get exposure to those firms and that key area in a tax-efficient, transparent wrapper. HTEC tracks the ROBO Global Healthcare Technology and Innovation Index. In doing so, it seeks global health care technology companies. That includes firms focusing on areas like diagnostics, lab process automation, regenerative medicine, robotics, genomics, and more.
That approach has helped the healthcare tech ETF return 13.5% over the last three months according to ETF Database, outperforming the category average in that time. What’s more, the fund has also beat that average over the last year, as well. Taken together, the healthcare tech ETF may be one to watch in the months ahead, as the MCED market advances.
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vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for HTEC ETF and DOCT.LN, for which it receives an index licensing fee. However, HTEC ETF and DOCT.LN are not issued, sponsored, endorsed, or sold by VettaFi. VettaFi and its affiliates have no obligation or liability in connection with the issuance, administration, marketing, or trading of HTEC ETF and DOCT.LN.
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