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Five Canadian IoT stocks flying under the radar

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Now that we’re all way more connected than we need to be, technology companies have turned their attention to our devices, creating sophisticated networks that will make up the so-called Internet of Things (IoT).

Most of this activity is going on in Silicon Valley, of course, but Canadian portfolio managers have begun taking notice of a few small caps here at home that could prominently figure in the machine chatter of the future.

Here are a few of their favourites.

Reliq Health Technologies Inc.

Bruce Campbell at StoneCastle Investment Management Inc. likes this Vancouver-based service provider, which connects to health sensors in the home in order to track a patient’s vital signs. That data is then streamed in real time to health-care workers.

If that sounds creepy, try to imagine an elderly relative who’s living alone and prone to medical episodes. Reliq monitors vital signs such as blood pressure and blood sugar levels, and can even remind patients to take their medication through a voice-enabled Alexa-style interface.

The idea is to help hospitals cut down on expensive re-admissions, and Reliq has already made strides selling to health authorities in the U.S., recently breaking through to profitability.

Canada’s public health-care system will be harder to penetrate, but a pilot project serving First Nations communities is already in the works, and Campbell thinks Reliq’s innovative offering could soon garner a lot of attention.

“They’re focused primarily in the U.S., and they’ve just gotten to the point where they’re profitable now,” he said. “As they continue to ramp that up over this year, I think more people will come to discover it.”

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