June 10, 2020 (Source) – Predictmedix to offer a fully integrated enterprise solution for healthcare along with workplace health, safety, and compliance.
Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) (“Predictmedix” or the “Company”) is pleased to announce the acquisition of MobileWellbeing, an innovative, feature rich, Telemedicine Remote Patient Monitoring platform that will integrate with Predictmedix’s Artificial Intelligence (“AI”) driven rapid screening system for infectious diseases, including COVID-19. This will also integrate with the Company’s screening modules for impairment and mental illness. The MobileWellbeing platform addresses several of the gaps currently observed with comparable platforms which are offered by a few public companies trading at high valuations.
MobileWellbeing has demonstrated its value in multiple different programs over several years, and has shown benefits such as improved patient health, minimized the impact of chronic disease, and driven down the cost for care through remote monitoring. The technology has been successfully used at Arnprior District Memorial Hospital for Chronic Obstructive Pulmonary Disease (Ottawa/Ontario), Algonquin College (Nursing department) for diabetes management and StonyBrook Hospital (New York, US) with the Pediatrics team that manage patients in the community with high risk pregnancies, teenage pregnancies and mothers in low income housing for wellness of their infants. The technology has also been used by the Cardiology department for Hypertension.
Compared to its competitive environment, MobileWellbeing has a unique and robust set of features such as, Assisted Monitoring that allows for data collection, transmission, evaluation, notification and intervention at home or through kiosks that might be especially useful in Long Term Care and Retirement Community settings.
Says Rajiv Muradia, Founder & CEO of MobileWellbeing, “I am very excited to be part of the Predictmedix team as their vision of ‘Leading the future in impairment detection and healthcare screening’ aligns well with the MobileWellbeing Remote Monitoring platform we have developed over many years. The combined solution will now allow us to take healthcare delivery to the next level. The integration will enable workplaces as well as clinicians to remotely manage patients outside their physical environments using MobileWellbeing’s suite of patient engagement and monitoring solutions, now within Predictmedix Disruptive AI platform.”
About Rajiv Muradia
Mr Muradia has extensive experience in developing Tele-health, Tele-medicine, and mobile healthcare technology platforms for over 15 years. He has led teams to build technologies (at VaaSah Inc. and Healthanywhere Inc.) that were operationalized with TeleSat Canada, London Health Science Center and European Space Agency for Remote Tele-Psychiatry project (REACH). Moreover, Mr Muradia has been phenomenally successful in delivering market-ready mobile healthcare applications on wireless tablets, smart phones, KIOSKS as well as several applications for consumers, care providers, family care givers, specialists etc. Over the past several years he has delivered solutions to support larger number of patients at various healthcare institutions in Canada, US, Puerto Rico and UK.
MobileWellbeing is being acquired by Predictmedix (asset purchase) for an upfront cash payment of $25,000 along with 250,000 common shares and a royalty of 20 percent of gross sales from the first $2.5 million in sales generated exclusively from the MWB platform. Among 250,000 shares, 150,000 common shares are to be vested with sales related milestones. At the same time, the CEO of MobileWellbeing, Mr. Rajiv Muradia will join the board of Predictmedix as a technical advisor. The transaction is expected to close within the next 60 days.
About MobileWellbeing Inc.
MobileWellbeing Inc. as a company has been developing applications in the mobile healthcare space for about 15 years starting with Tele-Psychiatry in partnership with TeleSat Canada, European Space Agency and London Health Science Center. These applications were used by various institutions, care providers as well as patients in Canada, US, UK and Puerto Rico.
MobileWellbeing is a Remote Patient Monitoring technology platform to deliver preventive healthcare applications for self-care to the consumers (on Android phones & tablets) as well as assisted care applications for chronic disease management in conjunction with care providers. These applications combine automated care plans, video visits, vital signs monitoring, medical alerts/notification, reminders, patient surveys, regimen compliance (medication, nutrition, exercise, education), secure access to collected data and reports as well as adapters to connect to existing Electronic Health Record systems. The platform also provides social networking collaboration tools that allow patient, care providers, family members as well as other healthcare professionals to stay engaged in the patient care network.