Toronto, Ontario – March 30, 2023 – Predictmedix Inc. (“Predictmedix” or the “Company”) (CSE: PMED) (OTCQB: PMEDF) (FRA:3QP), a leading provider of rapid health screening solutions powered by proprietary artificial intelligence (AI), today announced a purchase order from one of the largest Government hospital groups in India, MGM Healthcare, for the company’s AI-powered Safe Entry Stations. The purchase order was followed by the recently completed third-party, 400-patient clinical study conducted by MGM Healthcare in which the scope was to determine the effectiveness of Predictmedix’s AI-powered screening technology.
Safe Entry is a comprehensive and global risk management solution that utilizes a fully patented system to rapidly and autonomously screen for individuals’ key vitals. The Safe Entry Station is a walk-thru system where an individual stands in front of the unit for 2-3 seconds while multi-spectral imaging cameras gather the necessary information to determine the physiological state of an individual. Parameters like temperature, heart rate, and respiration rate are collected non-invasively and the AI/ML algorithms compute a result. Vitals hold key insight into an individual’s state, whether they’re dealing with health complications, influenza, fatigue or even impairment. Safe Entry does not capture or store personal identity information, ever.
MGM Healthcare is a prominent group of medical universities in India, comprising multiple hospitals across the country. Known for their state-of-the-art facilities and commitment to delivering exceptional healthcare services, MGM Healthcare has chosen to deploy five Safe Entry Stations to screen patients for infectious diseases and triage purposes. This purchase order represents a substantial investment, with a value of approximately $500,000 CAD spread over a three-year period. By choosing to implement Predictmedix’s AI-powered screening technology, MGM Healthcare is demonstrating its commitment to providing innovative solutions that improve patient outcomes and enhance the efficiency of healthcare operations.
Aside from providing a quick and effective method of screening for impairment and infectious diseases, Safe Entry’s AI-powered technology also helps healthcare facilities overcome staffing challenges. With limited resources, hospitals need to ensure that their staff is being utilized in the most efficient way possible. By quickly analyzing an individual’s vital signs, Safe Entry can reduce wait times and processing times for patients, enabling healthcare providers to focus on providing timely care to patients who need it most. This non-invasive method of collecting vitals is more comfortable for patients, which can lead to a better overall patient experience. By improving patient care and streamlining operations, Safe Entry offers a comprehensive solution for healthcare facilities looking to enhance their capabilities.
“With over 69,000 hospitals in India alone, having our footing in the healthcare space is a major achievement for Predictmedix. This positions us to unlock immense opportunities for expanding our cutting-edge healthcare technology in South Asia and ASEAN countries. South Asia and ASEAN countries present a substantial opportunity for Predictmedix to enhance healthcare in regions with large populations. Furthermore, our technology has shown promising results with the recently completed 1600-person clinical study at an Indonesian University. We strongly believe our innovative tech can play a crucial role in improving healthcare outcomes and easing the burden on healthcare systems, and we look forward to expanding our presence in these regions,” stated Dr. Rahul Kushwah, COO at Predictmedix.”
“Securing a purchase order directly from MGM Healthcare is a major achievement for Predictmedix, as it validates the effectiveness and potential of our technology in the healthcare sector. Our team has been dedicated to commercializing this technology for some time, and the fact that MGM Healthcare has conducted third-party clinical studies with Safe Entry further underscores the confidence in our product. We are excited to continue partnering with MGM Healthcare to provide state-of-the-art healthcare solutions to patients across India,” commented Guru Bakshish Singh Sehgal, Head of Indian Operations at Predictmedix.
About Predictmedix Inc.
Predictmedix (CSE: PMED) (OTCQB: PMEDF) (FRA:3QP) 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, fatigue 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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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 Page 4 of 4 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.
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