Medicine is still largely a cottage industry. Most doctors work in small practices where records are kept on paper. But now technology is starting to reshape this industry. The spread of electronic patient records, heavily promoted by government subsidies, will energize companies in such diverse fields as cloud computing, mobile phones, and even artificial intelligence.

Many of the companies on the cutting edge of electronic medicine are raw startups or privately held, and turbulent market conditions are likely to discourage most from seeking an initial public offering anytime soon. But Technology Review assembled a list of public companies that investors could consider. Here are nine, along with the issues that stock bulls and bears might see in each.