Market mover Predictmedix offers COVID-19 mass screening and now — a telemedicine platform
As COVID-19 global cases move towards 10 million (currently 8.26 million) one company now offers COVID-19 mass screening using a revolutionary form of Artificial Intelligence (AI). The technology also works for infection screening, sobriety testing and various other medical conditions such as mental disorders (depression & dementia). Early adopters are companies wanting to safeguard their workers as well as healthcare operations wanting to keep their premises safe from COVID-19 infection. The technology is suitable for large scale screening by governments, law enforcement, healthcare, other organizations, and employers worldwide.
That company is Predictmedix Inc. (CSE: PMED | OTCQB: PMEDF). Predictmedix has developed a disruptive AI technology that is leading the future in impairment detection and healthcare screenings. Predictmedix‘s AI powered products use facial, thermal, video and audio recognition technologies to determine when individuals are impaired or suffering from infectious disease or mental illness.
In the case of infection, the Predictmedix technology can screen and detect early signs such as temperature variances on the face and body, eye redness, coughing, sneezing, and other signs suggesting infection.
The potential applications are enormous. Imagine the impact this can have on COVID-19 detection, by putting Predictmedix’s mass screening technology in all public places. Combine this with further specific COVID-19 testing on those individuals that are picked up on mass screening and finally we have a chance to trace and stop the coronavirus.
One example of a COVID-19 entry screening that can use Predictmedix technology
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It is still early days for Predictmedix, however given the pace of new contracts, the Company is likely to grow exponentially. Predictmedix collect payments based on a Software as a Service (SaaS) user based model. Clients pay a monthly fee based on volume of screenings per use case, providing Predictmedix with recurring monthly revenue and multi-year contracts.
Recent contracts and partnerships with Predictmedix
- June 19, 2020 – Acquisition of Telemedicine platform – MobileWellbeing. Predictmedix to offer a fully integrated enterprise solution for healthcare along with workplace health, safety, and compliance.
- June 4, 2020 – Sales contract for its COVID-19 screening technology for the Caribbean region. Caribbean Digital Media Academy (CDMA) will act as a distributor for Predictmedix technology for the Caribbean with a specific focus on government and hospitality sectors.
- June 4, 2020 – 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.
- May 20, 2020 – Sales contract with Juiceworks Exhibits (events and exhibit marketing industry).
- May 9, 2020 – Deployment of COVID-19 mass screening technology with Max Healthcare.
- April 22, 2020 – Launch of a Pilot with Hindalco Industries Ltd for its impairment detection AI technology.
What the experts are saying:
- Kapil Raval (Director of Artificial Intelligence Business Development at Microsoft) – “The most interesting part is that Predictmedix focuses on AI solutions to problems that matter to all of us.”
- Dr Navdeep Singh Nanda – “Predictmedix can make a huge impact on the current COVID19 pandemic as their technology is the need of the day not just now but also in the future as we deal with other infectious diseases.”
- Dr Alexander Bardon (Emergency Physicia) – “There is not going to be a medical breakthrough such as a vaccine or drug that is going to solve the COVID19 problem in the near future. Our only effective strategy is the prevention of viral transmission. We have applied travel bans and physical distancing orders to our society as a whole. This has had a devastating impact on our economy and way of life. With AI we could be much more tactful in our approach.“
Predictmedix is moving forward at an incredible pace landing several new contracts and even appointing Microsoft Director of Business Development AI Solutions, Kapil Raval, as the Chairman of their Advisory Board. What started as a technology to detect for impairment has grown to detect infection and other medical conditions. Predictmedix offers an incredibly simple, cheap, yet brilliant, way to mass test globally for COVID-19 in public places without inconveniencing people. They combine this with a simple SaaS revenue collection model.
For investors all the signs are there. Predictmedix already has brilliant technology, early adopters, new contracts, a massive near term demand for COVID-19 screening technology, and now a telemedicine platform to better connect patients and healthcare providers.
Predictmedix stock has been rising fast, but still has a market cap of only C$66 million. Don’t miss this one.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>