Predictmedix's cutting-edge AI technology for infection and impairment testing gaining traction

Predictmedix's cutting-edge AI technology for infection and impairment testing gaining traction

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Focused on technologies that eliminates or moderates need for biologics Currently has signed agreements with four companies to distribute and re-sell its solutions Firm has filed two US patents for symptom screening technology and two more for remote patient monitoring What Predictmedix does: Predictmedix Inc (CSE:PMED) (OTCQB:PMEDF), formerly known as Cultivar Holdings, became a public company in 2019 and aims to be a market leader in the workplace health and safety (H&S) space - a sector where tech solutions have been largely absent until now. It is an artificial intelligence (AI) company, which is developing disruptive tools for impairment testing and health care aimed at use across various workplaces and by law enforcement agents. The technology uses facial and voice recognition to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous data points. Amid the current pandemic, the team realized the same multi-spectral imaging and AI methods could be deployed to identify coronavirus (COVID-19) symptoms. People walk through modules (like a tunnel) linked to cloud software and, within fractions of a second, a green or red light appears, identifying those who are exhibiting symptoms. The firm's technology is focused broadly on four areas - impairment, infectious disease, mental health and remote patient monitoring/telehealth. Dr Rahul Kushwah, president and COO of Predictmedix says the market opportunity across this spectrum is enormous - up to an eye-watering US$300 billion. The company was co-founded by Kushwah, a former Professor at the University of Ottawa's medical school and a scientist with the government of Canada (National Research Council) turned entrepreneur, and capital markets specialist Sheldon Kales who is a serial entrepreneur and has led the transition of several companies from private space to public trading. How is it doing: This year is perhaps best described as Predictmedix progressing its aim of getting its products and ideas "out there". In August, the company announced that its COVID-19 screening technology, along with its alcohol and impairment tech, was set to be deployed at Indian Oil Corporation Ltd (NSE:IOC), which had revenue last year of over US85 billion. The same month, the company said it was rolling out the coronavirus screening tech at the Flow Water facility in Ontario and at a 24-hour pharmacy in Montreal. The deployment at Flow Water’s Aurora facility came as part of Predictmedix’s contract with North American exhibit fabricating firm Juiceworks Exhibits. And recently, on November 19, it announced another India deal via a tie-up with the country's premier defence technology company PARAS in a bid to launch its AI screening tech in the government and public sector in South Asia. Back in July, the group struck a milestone sales deal with UK-based distributor Taurus Medical Solutions for a 12-month contract, beginning on July 6, with an option for renewal if a certain number of clients come onboard. The firm said Taurus' "large and diverse client base" in the UK, along with its relationship with the UK's National Health Service (NHS), offered a "great opportunity to roll out our technologies in the healthcare sector in the UK". The group also has the technology to create treatment programs specially tailored for patients, which expands Predictmedix into telehealth and telemedicine along with remote patient monitoring - an area becoming increasingly important, especially in this COVID-19 dominated world. Predictmedix acquired Mobile Wellbeing in June this year and plans to integrate it with the company's existing artificial intelligence-driven rapid screening system for infectious diseases. The firm is eying retirement residences and the Long Term Care (LTC) market. Inflection points: More sales momentum Developments and advances in capability in the group's technology What the boss says: After the PARAS deal, CEO Dr Rahul Kushwah spoke to Proactive and noted: "India is a country with over 1 billion people so there is a lot of public infrastructure....and it actually presents to us a great business opportunity, especially to target the government and public sector." He added: "They (PARAS) can take care of all the engineering, all the fabrication..there is never going to be a bottle-neck there because that is something they're good at. That is something they do on a daily basis and from the other end, from the business standpoint, they have identified a huge business opportunity which they can capitalize on using our technology." Contact the author at [email protected]

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