Paras TechCare, a Division of Paras Defence, to Manufacture and Resell Safe Entry Stations into Indian Private and Public Sectors on Behalf of Predictmedix
Paras Secured Two Initial High-Visibility Placements at Tier-1 Events in India; Serving as Launching Point for Near-Term Commercial Awareness in the Country
Toronto, ON – August 30, 2021 – Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) (“Predictmedix” or the “Company”), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI), today announced a strategic partnership with Paras TechCare, a division of Paras Defence & Space Technologies Ltd (“Paras”), under which Paras will manufacture, market, sell and distribute Predictmedix’s proprietary Safe Entry Stations in a turnkey manner for deployment in the public sector throughout.
Paras is one of the largest providers of defense related technologies to the Indian government and has clientele extending into other Asian and Middle Eastern countries. The Company is an approved registered vendor to almost all government and public sector departments throughout India. The Company’s Paras TechCare division leverages Paras’ experience in manufacturing, as well as emerging technologies such as Predictmedix’s Safe Entry Station, to combat the spread of COVID-19.
Under the terms of the new reseller agreement, Paras TechCare will manufacture and sell Safe Entry Stations within the Southern Asian market on behalf of Predictmedix, where Paras maintains significant public sector relationships through its defense contractor business lines.
“Predictmedix has been an ideal partner, offering incredible rapid health screening solutions that are becoming increasingly prominent within the Indian market,” said Anish Mehta, Director at Paras Defence. “With screening applications from COVID-19 to impairment by drugs or alcohol, we see significant potential for this technology within the Indian public sector. I look forward to working closely with the Predictmedix team as we roll their technology out throughout Southern Asia.”
“We have been incredibly impressed with the capabilities and reach of the team at Paras, and are ready to enter a new phase of our strategic partnership,” said Dr. Rahul Kushwah, Chief Operating Officer of Predictmedix. “Allowing Paras TechCare to fabricate our platform in India will utilize their engineering expertise to help decrease production time, control costs and increase efficiencies. We are eager to leverage their established relationships in the government, targeting key public sector opportunities where our safety solution can add the most value.
“In fact, through our relationship with Paras and the efforts of Mr. Guru Bakshish Singh Sehgal, Managing Director of Predictmedix (India), we already secured the placement of Safe Entry Stations for attendee screening at the widely followed 2021 Most Influential Personalities event – hosted by The Times of India and attended by celebrities, politicians and business leaders – as well as at the Forevermark Forum in late August, a leading diamond industry event in India hosted by the De Beers group of companies, where 80,000 diamonds are expected to be transacted over 3 days. We expect these to serve as a launching point for expanded near-term commercial awareness in the Indian market. I look forward to a long and successful partnership with Paras, with the ultimate goal of creating value for our shareholders,” concluded Kushwah.
About Paras Defence & Space Technologies Ltd.
Paras Defence and Space Technologies Limited manufactures defense electronics and space application products. The Company offers defense automation and control, rugged displays, computing, sensors, missile motors, rockets, telescopes, guns and ammunition as well as special purpose machineries. For more information, please visit our website at www.parasdefence.com.
About Predictmedix Inc.
Predictmedix (CSE: PMED) (OTCQB: PMEDF) is a leading provider of rapid health screening and remote patient care solutions globally. The Company’s Safe Entry Stations – powered by a proprietary artificial intelligence (AI) – use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, or various mental illnesses. Predictmedix’s proprietary remote patient care platform empowers medical professionals with a suite of AI-powered tools to improve patient health outcomes. To learn more, please visit our website at www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.
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