Predictmedix has disruptive AI technology that is leading the future in impairment detection and health screening

As countries begin to open up their economies, governments and organizations are looking for ways to detect positive COVID-19 (coronavirus) patients using mass screening. Contact screening is one way using an app. The problem is it relies on people installing the app and notifying through the app of their condition, and it assumes they actually know if they already have COVID-19. A company has developed a way to mass screen individuals for signs of infection (and hence COVID-19) which requires no effort from the public, using its Artificial Intelligence (AI) technology.

That company is Predictmedix Inc. (CSE: PMED | OTCQB: PMEDF). Predictmedix has developed a technology that can screen and detect various health signs that may warrant further testing using facial and voice recognition AI.

Predictmedix uses Artificial Intelligence such as facial and voice recognition to detect infection, loss of sobriety, and mental illness

Predictmedix rapid mass screening for infection (and hence COVID-19)

Predictmedix’s AI technology can potentially be used as a rapid mass screening tool for COVID-19, as well as for other infectious diseases. This is because infections, like COVID-19, produce unique physiological patterns, including temperature variances on face and body, eye redness, coughing, and/or sneezing.

Predictmedix can be deployed in settings outside of hospitals and healthcare facilities, airports, shopping centers, malls, stadiums, government and office buildings. Any location where people gather or where transmission risk is paramount. Predictmedix can be used even after the current COVID-19 pandemic subsides to help prevent any new outbreaks or to monitor any hotspots. This will give public health authorities the ability to proactively protect populations.

The screening test is contactless and non-invasive, with no risk of transmission through handling of biologics. It is also very affordable.

Predictmedix for sobriety testing

Predictmedix can be used to test for drug intoxication that is not easily detectable by other methods, such as cannabis intoxication. Predictmedix has developed sobriety or impairment testing based on face and voice recognition using AI, which means the test is non-invasive. The Predictmedix testing works to detect any type of impairment no matter the cause, so it is effectively an all-in-one screen for impairment from cannabis, alcohol and opioids. Both law enforcement and employers would benefit by using the Predictmedix testing.

Predictmedix for screening and management of mental and neurodegenerative disorders

Many mental illnesses display tell tale signs well before they are medically diagnosed. Some examples include depression and dementia. Mental illness is difficult to detect at early stages. Depression, dementia and other brain disorders are often dismissed or hidden, due to societal stigma and lack of simple diagnostic tools. With the use of Predictmedix as a screening measure mental illness can be picked up earlier. It also can help employers screen for any workers with any signs of mental illness using the facial and voice recognition technology.

Closing remarks

Thanks to amazing advances in Artificial Intelligence such as facial and voice recognition Predictmedix has developed technology that is capable of mass screening for signs of infection (including COVID-19), sobriety testing (alcohol, cannabis or any drugs that impair), and some mental disorders (depression, dementia). The key is that the body displays certain signs and signals and the Predictmedix AI technology is able to detect these signs.

Predictmedix AI technology is suitable for large scale screening by governments, law enforcement, healthcare, organizations and employers worldwide.

Predictmedix has already partnered with Tech Mahindra, Hindalco, and the prestigious Indian Institute of Technology to help expedite the launch of its impairment technology. The Company is headquartered in Toronto Canada and is a great tech company worth following closely by investors looking for the next big thing.

Home health care set to boom as coronavirus affects aged care facilities

The home health care market is already doing very well helped along by the increase in our aging populations. But now with coronavirus concerns it is making more sense for those in need to have home help rather than risk crowded locations including aged care facilities. For example, in Australia the government is now considering putting aged care facilities into lockdown due to the recent surge in coronavirus case.

This plays into the strengths of a Canadian home health care acquirer Nova Leap Health Corp. (TSXV: NLH). This is because Nova Leap focuses on care in the client’s comfort of their own home.

A brief background on Nova Leap Health Corp.

Nova Leap is a home health care services company that was created to assemble a portfolio of home care and home health care companies that have the potential to be leaders in their particular geographical market. Nova Leap plans to grow through a combination of continued acquisitions and organic growth, with a focus on North America.

Nova Leap not only acquires home care services companies, they also manage and build companies that provide top-level support to their clients. By providing home health care service the Company is able to provide skilled aftercare including nursing, home physical therapy, wound care, and health care including for dementia clients. In providing a home care service alternative Nova Leap is able to provide clients with ongoing assistance with activities of daily living which may include services from simple errands to housekeeping, transportation, and meal preparation. Nova Leap’s focus is to give their clients independence and quality of life.

Nova Leap Health Corp. is growing fast in the fast growing sector of home health care in North America


A sound business model

Nova Leap follows a sound business model. Their process includes finding quality home health care companies (a strong reputation/brand) with a geographical focus on the US and Canada, a positive EBITDA , and ideally a 10 year history with US$1 million plus in revenues. Nova Leap is growing fast, which means that as the business scales up margins are improving and profitability is just around the corner.

US dementia patients forecast to grow significantly as the US baby boomers age

One in 10 people (10%) aged 65 and older has Alzheimer’s dementia. As North America ages the number of dementia cases is increasing. Often the best and most affordable way to care for our dementia patients is home health care in a friendly and familiar environment.

The chart below shows the number of US people aged 65 and older that are forecast to get dementia. In 2020 the figure is 5.8 million, by 2030 8.4 million, by 2040 11.6 million, and by 2050 13.8 million.

Source: Nova Leap company presentation February 2020

Nova Leap are well funded having recently been 1.5x oversubscribed

On December 5, 2019 Nova Leap announced a non-brokered private placement of convertible debentures. The offering was for C$2 million with the following terms: “The Debentures will mature five (5) years after the issue date (the “Maturity Date”) and will accrue interest at the rate of 8.0% per annum, payable semi-annually. At the holders’ option, the Debentures may be converted into common shares of Nova Leap at any time and from time to time, up to the Maturity Date, at a conversion price of CAD$0.52 per common share (the “Conversion Price”).”

President & CEO of Nova Leap, Chris Dobbin, stated: “We continue to receive quality acquisition opportunities on a regular basis……We recently announced the best financial results in our Company’s history, and we are determined to continue along that trajectory. This funding will allow us to act on acquisition opportunities should we chose, as well as pursue our plans to expand organically into new territories.”

Following the December 5 offering Nova Leap announced on December 20: “Due to oversubscribed demand, the non-brokered private placement of Debentures will now consist of maximum gross proceeds of CAD$3 million.”

The over-subscription is a very positive endorsement towards Nova Leap from investors.

2019 annual financial results to be released by mid-March

Nova Leap has had a brilliant past year with several major acquisitions resulting in a record leap in EBITDA. Nova Leap will present 2019 full year results at the 2020 Spring Investor Summit in NYC on March 25 and 26, 2020. The Spring Investor Summit will take place at the Essex House, featuring 160 companies and over 1,000 institutional and retail investors.

The Company has already publicly stated they will release “record 2019 results“. The results will be released by mid-March, 2020.

Closing remarks

Nova Leap is already well geographically diversified with operations in 5 different U.S. states: Vermont, New Hampshire, Massachusetts, Rhode Island and Oklahoma as well as Nova Scotia, Canada. Their business model of acquiring smaller but profitable home health care companies is starting to bring rewards.

The home health care sector (including dementia care) is set to grow substantially over the next decade. Added to this is the recent coronavirus concerns which may lead to more clients choosing home health care rather than taking the risk of an aged care facility.

With an oversubscribed C$3 million debenture raise now closed and 2019 results out in mid-March, Nova Leap will shortly be in the spotlight of over 1,000 institutional and retail investors.

At the current market cap of just C$24 million investors can still get in early before the institutional investors. Judging by management’s strong performance in 2019, 2020 will again be another big year for Nova Leap and should see the stock price move higher.

Aigner: how IntelGenX is forging ahead in fight against dementia

Aigner_LudwigIntelGenX Technologies Corp. (TSXV: IGX | OTCQX: IGXT) is a pioneer in innovative drug delivery technologies addressing unmet medical and commercial needs. Established in 2003, the Montreal-based company develops innovations in pharmaceutical delivery based on its proprietary drug formulation technologies, VersaFilmTM, VersaTabTM, and AdVersaTM. The company’s goal is to be the first choice for oral solid dose innovation.

IntelGenX is now in the forefront of addressing rejuvenating the brain in the aged to combat degenerative disorders such as dementia and Alzheimer’s. A team recently demonstrated that the anti-asthmatic drug Montelukast structurally and functionally rejuvenates the aged brain.

May 11, 2016: InvestorIntel publisher Tracy Weslosky Interviews Ludwig Aigner, a member of IntelGenX’s Scientific Advisory Board. Dr Aigner has been working on spinal cord and brain rejuvenation over a 25-year period. He explains

  • How research is going beyond just slowly the brain’s aging
  • Why existing drugs could be re-purposed to improve brain functions — and save huge developmental costs

Tracy Weslosky: It is a real pleasure to meet you. You’re an age rejuvenation specialist, a neuroscientist that’s recently joined IntelGenX’s scientific board. Can you tell us a little bit more about what you do?

Ludwig Aigner: Well, I’m a neuroscientist working since — 20-25 years on regeneration — brain regeneration, more lately focusing more on rejuvenation. So that goes beyond, let’s say, the last — you know, the attempts of the last decade where people just try to protect neurons from dying. Now we are looking at the aged brain because aging is the main risk factor for many of the diseases that we’re interested in, for example, dementia, Alzheimer’s dementia. We would like to go beyond just protecting neurons from dying, but we would really like to make the old — the aged brain — younger. In other words, really try to rejuvenate the aged brain with aim basically to finally also develop therapies for dementia, for Alzheimer’s and so on.

Tracy Weslosky: Okay. This is a very exciting industry. I’ll tell you my brain could use some work here. In particular you speak a lot about drug re-purposing, the drug delivery in drug repurposing. For some of our investors out there that may not be familiar with this, can you tell us a little bit more about what this means?

Ludwig Aigner: Well, drug repurposing is a very also, let’s say, innovative and very young way to come up with new drugs for certain diseases. New drugs meaning the new use for already known drugs. Now if you just look at the costs of drugs to be developed, any kind of completely new drug would cost, I mean, these days something like $2.6 billion for each single, for each individual drug. These are huge costs. Now if you are able to use a drug that has been already developed and used for a certain disease and you find that this drug might be also useful for another disease you just, you know, take this drug and develop it, sort of, for this new disease, for this new indication that you’re interested in. That’s kind of what repurposing is or repositioning it’s also called.  to access the full video, click here

Disclaimer: IntelGenX Technologies Corp. is an advertorial member of InvestorIntel.