TORONTO, ON / ACCESSWIRE / June 4, 2020 / Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) (“Predictmedix” or the “Company”) is pleased to announce the execution of a sales contract for its COVID-19 screening technology for the Caribbean region along with key partnerships and appointments to further bolster its position as being the provider of novel artificial intelligence (“AI”) based solutions for workplace health, safety and compliance.
Sales Agreement for COVID-19 Screening – Caribbean
Predictmedix is pleased to announce the execution of a sales contract with Caribbean Digital Media Academy (CDMA), a services integrator company registered in Jamaica that commenced operations in 2015. CDMA specializes in; development, deployment and management of highly immersive joint smart IT solutions. Predictmedix is also pleased to announce strategic developments for the development of its mental health screening technologies.
CDMA will act as a distributor for Predictmedix technology for the Caribbean with a specific focus on government and hospitality sectors. Predictmedix technology will be deployed using a software as a service (“SaaS”) model whereby for every camera or scanner installation, there will be an upfront customization fee followed by a monthly subscription fee model based on the number of screenings contributing to recurring revenue on a monthly basis. The recurring revenue will be shared between Predictmedix and CDMA.
Some of the projects successfully implemented by CDMA in their short history include: designed and implemented exclusive encrypted wireless island wide network for the Jamaica Earthquake unit that involved connecting wirelessly over 80 remote seismic solar powered devices for real time monitoring and information by the central unit at University of the West Indies (UWI); designed and implemented real time smart video monitoring by police, government departments and authorized private sector organizations of highly sensitive scrap metal sites in Jamaica. The contract included designing and integrating an exclusive wireless network, artificial intelligence (AI) security software and IP CCTV camera systems.
Havian Harris, head of customer relations at CDMA said, “we are elated to work with Predictmedix as their COVID-19 detection fits in with our sweet spot of successfully promoting and integrating highly sensitive video solutions with their AI software”. She further went on to state, “Our Caribbean nations are highly dependent on tourism and the Predictmedix solution will allow us to participate in opening back up our hospitality and transportation industries that are so crucial to our economies”.
Key appointment – Business Development and Strategy
Predictmedix is also pleased to announce the appointment of Mr. Prabhakar Srivastava, a Senior Healthcare Executive with over 38+ years’ experience including being the CEO of an Indo-Israel Venture and more than a decade as an independent consultant & mentor. Mr Srivastava will be playing a pivotal role in business development, deployment and strategic partnerships in Asia Pacific and Africa for all the technologies developed and being developed by Predictmedix.
Mr Srivastava has been pivotal in launching state-of-the-art innovative solutions for indigenous production through Transfer of Technology in healthcare & environment fields from companies including Phillips Medical Systems, Picker International Inc, Elscint Ltd., Medison Co. Ltd. and Toshiba Corporation. Additionally, he has served as advisor to several African Countries viz. Uganda, Republic of Burundi & Federal Republic of Nigeria along with the government of India.
Partnership – Mental Health Screening Technology
Predictmedix is developing AI powered technologies to assist with diagnosis and management of mental health disorders such as depression, autism, ADHD and dementia. Predictmedix is pleased to announce a partnership with Max Healthcare for facial technologies leading to neurological diagnostics for mental health disorders. Max Healthcare is one of the largest healthcare groups in South Asia, encompassing 14 hospitals with over 3000 doctors. Max Healthcare will be assisting Predictmedix with data collection for the mental health screening technology and will also be piloting the technology.
Key appointment – Healthcare
Predictmedix is pleased to welcome, Dr. Deepu Banerji, a neurosurgeon with more than 34 years’ experience in microscopic and minimal invasive neurosurgery. He is a ‘Sugita Fellow’ from Nagoya University, Japan for microneuro-surgical training and has been consistently ranked amongst the top 5 neurosurgeons in India.
Dr. Banerji will play a key role in assisting Predictmedix with the development of AI technologies to screen for mental health disorders using patient data. Dr. Banerji has performed over 8,000 surgeries and has served as a board member for several prominent Neurology societies in Asia. He is a Member Editorial Board of Surgical Neurology International and has been conferred Honorary Member of Society of Neurosurgeons of South Africa.
“In addition to progressing with deployment of our COVID-19 technology we are actively working on development and deployment of impairment and mental health screening technologies. The current developments are the key in positioning us not only at the forefront of healthcare technologies but also in positioning Predictmedix as the go-to-company for enterprise solutions for workplace health, safety and compliance”, commented Dr. Rahul Kushwah, COO of Predictmedix.
For more details on this release please click on the following video interview:
About Max Healthcare
Max Healthcare is one of South Asia’s leading comprehensive provider of standardized, seamless and international-class healthcare services. It is committed to the highest standards of medical and service excellence, patient care, scientific and medical education. Max Healthcare has 14 hospitals in India, offering services in over 30 medical disciplines. Max Healthcare has a base of over 3,000 doctors, 10,000 employees and over 2.2 million patients from over 80 countries, across its network of 14 hospitals.
Max Healthcare is controlled by Max Group. The Max Group is a leading Indian multi-business conglomerate with a commanding presence in the Life Insurance and Healthcare industry. It has ventured into high potential sectors – Senior Living and Real Estate. In FY2019, the Group recorded consolidated revenue of approximately $4 billion CAD. It has a total customer base of 11 million, over 350 offices spread across India and employee strength of more than 27,500 as on 31st March 2019. The Group’s investor base includes marquee global financial institutions such as New York Life, KKR, IFC Washington, Vanguard, Ward Ferry, Briarwood Capital, Nomura, Aberdeen, First State Investments, First Voyager, Eastspring, Target Asset Management, Baron, Jupiter and Doric Capital.
For additional information, visit the company’s website at www.maxhealthcare.in.
About Predictmedix Inc.
Predictmedix Inc. is an artificial intelligence (“AI”) company developing disruptive tools for impairment testing and healthcare. It is intended that the Company’s cannabis and alcohol impairment detection tools will be used across various workplaces and by law enforcement agents. Its technology uses facial and voice recognition to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous different data points. Testing does not require any body fluids or human intervention, thereby helping to remove human error and the potential for discrimination and prejudice. The Company has partnered with Tech Mahindra and Hindalco to help expedite the launch of its impairment technology, as well as the prestigious Indian Institute of Technology.
The Company is also developing AI based screening for the healthcare industry. The recent advent of COVID-19 pandemic has placed unprecedented stress on the global economy and highlights the need for tools to help screen mass populations for infectious diseases, with the hope of preventing pandemics in the future. In turn, Predictmedix Inc. is expanding its proprietary AI technology to screen for infectious diseases such as influenza and coronaviruses (COVID-19). Our current partners along with advisory board members have played a key role in gathering data pertaining to COVID-19, which has allowed us to develop a predictive mass screening tool for COVID-19. The technology is for mass screening and is to be used to predict and identify individuals who have the highest likelihood of being infected with COVID-19.
Additionally, psychiatric disorders such as depression, dementia and Alzheimer’s disease can carry a significant burden and early identification is the key to better management. To help address this, the Company is also expanding its proprietary AI technology to screen for psychiatric and/or brain disorders such as depression, dementia and Alzheimer’s disease. To find out more visit us at www.predictmedix.com
Disclaimer: “The Company is not making any express or implied claims that its mass screening product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time”.
For further information, please contact:
Dr. Rahul Kushwah, Chief Operating Officer
Tel: 647 889-6916
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company’s shares, including price volatility due to events that may or may not be within such party’s control; reliance on management; and the emergency of additional competitors in the industry.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
SOURCE: Predictmedix Inc.
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