Toronto, ON, February 10, 2022 – 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 released a letter to shareholders from Interim Chief Executive Officer, Dr. Rahul Kushwah.
Dear Fellow Shareholders,
2021 was an exciting and transformational year for Predictmedix. From deploying our Safe Entry Stations at world-leading events such as Formula 1 Racing, to receiving the CE mark and ISO Certification for Safe Entry Stations, to partnering with Paras Techcare to deploy Safe Entry globally – Predictmedix has made significant progress on several fronts. We’d like to share our key milestone achievements with investors that we believe have built the foundation for significant growth in 2022 and beyond.
Continuous Product Improvements: Building the Foundations for Commercialization
Throughout the year, we made transformational upgrades to our principal product, the Safe Entry Station, including faster screening times, and upgrading from Cloud Computing to Edge Computing. Edge Computing allows the device to process data locally, meaning the Safe Entry Stations are no longer limited by the requirement for a steady internet connection. We can now offer faster setup and configuration for deployments as well. We were rewarded for the performance, quality, and safety requirements exhibited in the Safe Entry Station with the receipt of Conformitè Europëenne (“CE”) Mark status and ISO13485 certification, enabling us to commercialize in the European Union, Middle East, and other key global markets.
As we rapidly grow the number of data sets ran through our proprietary artificial intelligence platform, we have further improved our algorithms, contributing to faster, more efficient detection of symptoms of infectious diseases. To date, we have received new and additional data from our hospital partner for new variants of infectious diseases as well as for triage solutions, adding the potential for exciting new applications in the future. These new data sets will help improve our accuracy for identification of symptoms of infectious disease while also adapting it for new virus variants. These data sets will also help drive our technology to becoming a triage solution that can be used in healthcare settings for identification of key vitals.
Initial Commercialization Efforts are Underway
Our technology improvements have translated into revenue generating deployments around the world at businesses events and other public spaces. Our Safe Entry stations were front and center at multiple high profile live events during the year as well. Recent deployments included the Italian Contemporary Film Festival, Lavazza Drive-In Film Festival, the Palm Tree Music Festival in Westhampton Beach, and two high-visibility placements at Tier-1 events in India. 15 Safe Entry Stations were onsite at the Formula 1 Aramco United States Grand Prix to help protect race attendees in hospitality areas. We are rapidly becoming the preferred onsite solution for a wide variety of businesses and at large scale live events globally.
To support our global sales and deployments, we further strengthened and increased our reseller program throughout 2021. Our relationships with North American industry leaders Juiceworks Exhibits (an innovative full-service expert in the fabrication and management of outstanding exhibitions and events), SBL Testing Technologies, Paras TechCare (part of Paras Defence), Entertainment Bay India LLP, and other strategic firms have combined to expand our depth and exposure as a company into key domestic and international markets.
With the pandemic remaining front and center during the year, we were well-positioned to engage with the media to highlight our technology. Key media engagements with CTV news, Fox Tampa, City News, Tampa Bay Times, the Times, Digital Journal, Benzinga and Seeking Alpha helped spread our story around the world to potential customers and investors.
We are Well Positioned for Success in 2022 and Beyond
2021 was an important year for our capital markets strategy. We filed a Registration Statement on Form 20-F with the SEC, an important step in the process to become listed on a U.S. national stock exchange, with a goal to eventually uplist to Nasdaq. In anticipation of these capital markets milestones, we attended multiple investor conferences, improved our communications and outreach program by engaging with leading investor relations firm MZ Group, revamped our website, and implemented an ongoing social media campaign.
Looking ahead, we will focus on operational execution, positioning Predictmedix at the forefront of Impairment Detection and Infectious Diseases Screening, as well as doubling-down on R&D to further develop AI-driven medical devices for the healthcare industry. A clinical study set to begin this month with researchers and doctors at a North American hospital will use our Safe Entry Stations to screen for symptoms of infectious diseases and signs of impairment from cannabis and alcohol. The results of the study will be published in a peer-reviewed medical journal, a key step toward seeking classification of our technology as a Class II Medical Device in the United States with the Food and Drug Administration (the “FDA”) and toward advancing the commercialization of our Safe Entry Station technology.
Bringing clinical validation to our Impairment Detection and Infectious Disease Screening solutions, certification by the FDA of our Safe Entry Station as a Class II Medical Device will enable us to better pursue larger, multi-year enterprise contracts. Our application is in process with the FDA and we expect to make significant progress with certification this year. Our current Safe Entry Stations can be quickly upgraded to offer new solutions, such as Impairment Detection, without additional components, and we expect this validation will help build a growing pipeline of interested large organizations.
Ongoing R&D for AI-Driven Medical Devices in Healthcare
R&D remains an integral part of our long-term plan to be at the forefront of AI-driven medical devices in healthcare. Focusing heavily on R&D will enable us to develop products that provide quick, non-invasive, autonomous, and cost-effective solutions that will have a substantial impact on hospitals and clinics globally.
We are proud to announce a Triage Solution for Hospitals to gather key vitals from incoming patients, so nurses can save time and increase productivity. We are currently enhancing our technology to detect key vitals in a no touch fashion to position our technology as a triage solution in a healthcare setting. This can lead to both potential cost savings as well as increased efficiency and productivity in hospitals, as such a technology will work in real time to capture vitals from all the incoming patients while simultaneously transmitting the data to the healthcare provider so decisions can be made quicker and more efficiently.
An incredible effort has propelled our company forward on multiple fronts. We are very grateful to have the opportunity to work with such a dedicated and committed team, who have pulled together as our society has struggled against unprecedented conditions. It is a true joy for us all to know that we have earned the trust and loyalty of the many parties we are working with who share our vision for success. As we head into a new year, we remain focused on growth, innovation and sustainable shareholder value creation. We invite everyone to stay engaged with us, either through social media or by signing up on our website for regular news alerts, because we will have much more to talk about in the months ahead.
Thank you for your continued support,
Interim Chief Executive Officer and Director
About Predictmedix Inc.
Predictmedix (CSE: PMED) (OTCQB: PMEDF) is an emerging 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.
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.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.
Disclaimer: “The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time.”