Punching above their weight, Predictmedix keeps nailing the heavyweight health tech partnerships

As the world shifts to a “new” normal, employee and customer screenings will be commonplace and Predictmedix Inc. (CSE: PMED | OTCQB: PMEDF) and its solutions are leading the way.

The recent announcement by Predictmedix, regarding the partnership with McGill University, is another example of the relationships that Dr. Rahul Kushwah, COO of Predictmedix, is developing with major corporations and leading healthcare providers as it rolls out Artificial Intelligence (“AI”) health tech solutions.

Predictmedix aims to improve the healthcare system through innovative and cutting-edge digital health technologies. Currently, Predictmedix AI solutions focus on infectious-disease screenings, impairment detection, and remote patient monitoring.

The Company’s products use facial, thermal, video, and audio recognition technologies to determine when individuals are impaired, suffering from an infectious disease, or mental illness. One solution focuses on mass and rapid AI-based screening for COVID-19 symptoms.

Partnerships, Pilots, Trials and Installs – Where Does Predictmedix Find the Time

Earlier this month, Predictmedix announced partnering with a research group led by Dr. Samira Rahimi from McGill University’s Department of Family Medicine.

Dr. Rahimi’s research group will be working with Predictmedix and its three industry verticals:  (1) screening for infectious disease associated symptoms; (2) screening for alcohol or cannabis impairment; and, (3) mental health screening.

Dr. Rahul Kushwah commented, “We are extremely excited with the partnership with Dr. Samira Rahimi’s team. Dr. Rahimi is one of the most recognized AI – healthcare scientists in Canada and we look forward to with her and her research team for our 3 major verticals.”

The announcement with McGill is just the latest in a series of pilot projects, partnerships, and product rollouts that Predictmedix has successfully executed this year. Predictmedix believes that it is well-positioned for growth and to capture the current sales momentum into Q1/2021.

Recently, the Company announced 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), a multi-billion dollar India-based oil company, and the deployment of its mass screening technology for COVID-19 with Max Healthcare, one of the largest healthcare groups in South Asia, encompassing 14 hospitals with over 3000 doctors.

Predictmedix also announced a collaboration with India-tech giant Tech Mahindra Ltd (NSE: TECHM), to incorporate Predictmedix’s impairment detection technology and COVID-19 solutions into Tech Mahindra’s suite of technologies offered for workplace health and safety across the globe.

Closer to home, the Company, in conjunction with its partner Juiceworks Exhibits, successfully deployed its infectious disease screening technology at Flow Water in Aurora, Ontario, and a 24-hour pharmacy in Montreal, Quebec.

Used by employees on a daily basis, Predictmedix’s gateway screens individuals, in a non-invasive way, as they walk through and it triggers an alarm if symptoms associated with an infectious disease are detected, such as COVID-19, or signs of impairment due to alcohol or cannabis use.

The screening product consists of hardware, software, multi-spectral cameras, and specialized sensors that are assembled into a gateway, much like a metal detector in an airport, and communicates with Predictmedix’s AI model in the cloud.

Remote Patient Monitoring & Telehealth Enterprise Platform with Mobile Wellbeing Acquisition

In June, Predictmedix acquired Mobile Wellbeing, a remote patient monitoring platform, which is strategic for the Company in creating an enterprise platform and allows Predictmedix to enter the telehealth and clinical trials markets.

According to a recent by study Adroit Market Research, the Remote Patient Monitoring Market is anticipated to reach US$1.9 billion by 2026, growing at a CAGR of almost 13% from 2020 to 2026.

With current stay-at-home orders due to the COVID-19 health crisis, clinical drug trials shifted to remote monitoring from on-site monitoring. The U.S. Food and Drug Administration (“FDA”) now supports remote monitoring for oversight of clinical sites.

In addition, the Mobile Wellbeing platform is equally suited for use in long-term care facilities to care for elderly patients. Big Data features include assisted monitoring that allows for data collection, transmission, evaluation, and notification. Utilizing the latest off-the-shelf wearables, the platform has shown benefits such as improved patient health and also lowered the cost of care through remote monitoring.

Predictmedix anticipates the commercial launch of its remote patient monitoring platform Q1/2021 with some key, large-scale deployments in North America and Asia.

Predictmedix is currently trading at $0.46 with a market cap of $46.5M but with billion-dollar partners and a pipeline of projects in Q1/2021, clearly ready for a re-rating.




Predictmedix is starting to commercialize as AI health screening & monitoring takes off

Health screening is big business these days. The latest way is using Artificial Intelligence (AI) to mass screen and/or monitor for impairment and various disease states, including COVID-19.

One company is now starting to commercialize their technology, winning contracts and forming distribution partners all around the globe. That company is Predictmedix Inc. (CSE: PMED | OTCQB: PMEDF).

The global market size for AI in healthcare in 2017 was US$1.4b and is forecast to rise to reach US$28b by 2025, for an approximate 20 fold increase in just 8 years. Healthcare screening and monitoring using AI can play a key role.

The global market for artificial intelligence (AI) in healthcare is forecast to take off

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Predictmedix has developed leading disruptive AI technology in impairment detection and healthcare screenings. Their AI powered products use facial, thermal, video and audio recognition technologies to determine when individuals are suffering from infectious disease, are drug or alcohol impaired, or have a mental illness. The Predictmedix screening devices are backed up by a remote patient monitoring platform.

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Predictmedix’s latest achievements to commercialize their screening AI technology

  • October 1, 2020 – Partnered with Versus Systems to develop tools for clinical trials, in particular on-site monitoring to ensure human subject protection, data integrity, and quality. The news release states: “This will allow Predictmedix to enter a new industry vertical of clinical trials which is a $40 billion market opportunity as estimated by Fortune Business Insights.”
  • September 3, 2020 – Predictmedix Inc. and Juiceworks Exhibits provide safe entry solutions to facility managers at IFMA World Workplace in Texas.
  • August 17, 2020 – Predictmedix Inc. and Juiceworks Exhibits announce COVID-19 technology deployments in North America.
  • August 12, 2020 – Deployment of Impairment Screening along with COVID-19 symptom screening technology at Indian Oil Corporation.
  • July 7, 2020 – Sales/distributor 1 year contract with Taurus Medical in the United Kingdom. Taurus Medical manufacture and market over 1,500 products for the diagnosis, treatment and monitoring of respiratory conditions. They are a supplier for the UK National Health Service. Taurus is offering Predictmedix COVID-19 mass screening entry modules to the healthcare, retail, and the entertainment sector in the UK.
  • June 26, 2020 – Teamed up with Tech Mahindra who will resell Predictmedix to their global client base. Tech Mahindra is a $4.9 billion dollar company owned by Mahindra Group. Tech Mahindra is operational across 90 countries, helping 973 global customers including Fortune 500 companies.

Regarding the Indian Oil Corporation contract Predictmedix state:

“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.”

Now that’s a very busy past 5 months. The model of using well known brands (Juiceworks Exhibits, Taurus Medical, Tech Mahindra) with large distribution networks should make for a faster and more successful commercialization. Product deployment at large corporations such as Indian Oil Corporation show solid early demand for the Predictmedix product.

Predictmedix operates under a SaaS model. Clients pay a monthly fee based on tiered volume of screenings or by number of device feeds. Both pricing options provide Predictmedix with recurring monthly revenue and multi-year contracts.

Right now as COVID-19 cases approach 40 million (and 1.2 million deaths) it certainly looks like there is a massive potential market for Predictmedix’s COVID-19 Safe Entry Solutions. This could be the product that rapidly launches Predictmedix into the AI health screening market. You can read more on that here.

Predictmedix current market cap is C$58m. The Company looks to have plenty of growth opportunities ahead as it strives to capture a share of the forecast US$28b AI healthcare market by 2025.

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