Predictmedix Inc. Announces Deployment of Impairment Screening Along with Covid-19 Symptom Screening Technology at Indian Oil Corporation LTD
August 12, 2020 (Source) — Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) (“Predictmedix” or the “Company”) is pleased to announce that it will be deploying its COVID-19 screening technology along with alcohol and impairment screening technology at Indian Oil Corporation Ltd (NSE:IOC.NS), (“IOCL”) an Indian Public Sector Undertaking FORTUNE 500 company.
Predictmedix COVID-19 screening technology is designed to mass screen for symptomatic individuals to help reduce the risk of transmission in places which have a large movement of people. At the same time, impairment remains to be a massive health and safety issue at the workplace and Predictmedix impairment detection technology is designed to identify alcohol and cannabis impairment. The two Predictmedix technologies will be deployed at Indian Oil Bhawan, New Delhi. The deployment is expected to begin within the next 3-4 weeks.
“The deployment of our COVID-19 screening and impairment technology at IOCL which is a fortune 500 company marks our entry into the Oil & Gas sector which is one of the largest industrial sectors and it further highlights the market need for the suite of technologies developed by Predictmedix”, said Dr. Kushwah, COO of Predictmedix.
Key appointments for business development:
Predictmedix is also pleased to appoint Kiran Kumari to the advisory board to assist with business development in Asia Pacific. Kiran is a senior Oil and gas executive and has assisted some of the largest multinational conglomerates with business development in Asia.
Technology development – US patent application:
Predictmedix is pleased to announce that it has filed a patent application, 63058567 – Utilizing healthcare providers network effect to increase compliance for better health outcomes, with the United States Patent and Trademark Office (USPTO) on July 30, 2020. The patent further enhances the features offered by Predictmedix telehealth/telemedicine and remote patient monitoring platform.
The present invention provides a novel method and system of management of rewards for care provider network for assisting in improved health of the patient and for compliance to a treatment protocol. The patent covers a partner reward management system and method for care partners/care providers to collectively contribute to improved health of the patient and accordingly rewarding the care providers and other wellness partners.
Disclaimer: “The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.”
About Indian Oil Corporation Ltd (IOCL):
Indian Oil Corporation Limited (IOCL), commonly known as Indian Oil is an Indian government-owned oil and gas company headquartered in New Delhi. It is ranked 1st in Fortune India 500 list for year 2016 and 117th in Fortune Global 500 list of world’s largest companies in the year 2019. It is India’s largest downstream oil company, with a workforce of more than 33,000 employees, with 2019 revenue of $85 billion USD.
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 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
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.
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