The Volpara Health Technologies Ltd (ASX: VHT) share price is going up after the healthcare business revealed patent protection in the US.
What happened with the Volpara share price?
Volpara told investors that it has been granted another patent in the US, which protects the unique features of the company’s VolparaEnterprise and VolparaLive! software.
This is the latest patent protection that has been granted internationally.
The company uses a combination of intellectual property rights, which includes patents, trade secrets, copyright and trademarks, to ensure effective, enforceable protection of its products and to help its sales and growth strategy.
The CEO of Volpara, Dr Ralph Highnam, said: “The patent granted by the US patent and trademark office protects key features of our current products, and the advantages that those products offer clinicians and patients.
“The patent also protects developments that Volpara will integrate into new products. It helps secure our freedom to operate and build upon our foundation patients, which are now approaching 12 years since grant.”
Volpara is probably one of the highest quality ASX growth shares around, so having more patent protections for its services gives it more protection against competition. I think the Volpara share price could be a good idea for a long term investment.
The healthcare business has a very promising future, particularly if it can keep increasing its average revenue per user (ARPU).