logo-loader
viewPredictmedix Inc.

Predictmedix's cutting-edge AI technology for infection and impairment testing gaining traction

Snapshot

The firm is developing disruptive tools for impairment testing and health care aimed at use across various workplaces and by law enforcement agents

Predictmedix Inc. -

Quick facts: Predictmedix Inc.

Price: 0.325 CAD

CSE:PMED
Market: CSE
Market Cap: $32.86 m
Follow
  • Focused on technologies that eliminates or moderates need for biologics
  • Has developed Safe Entry Stations to test for coronavirus symptoms
  • Two US patents filed for symptom screening technology and two more for remote patient monitoring

What Predictmedix does:

Predictmedix Inc (CSE:PMED) (OTCQB:PMEDF), formerly known as Cultivar Holdings, is an artificial intelligence (AI) company, which is developing disruptive tools for impairment testing and health care aimed at use across various workplaces and by law enforcement agents.

The technology uses facial and voice recognition to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous data points.

Amid the current coronavirus (COVID-19) pandemic, the team realized the same multi-spectral imaging and AI methods could be deployed to identify virus symptoms and has developed its Safe Entry Stations. People walk through modules (like a tunnel) linked to cloud software and, within fractions of a second, a green or red light appears, identifying those who are exhibiting symptoms.

The firm's technology is focused broadly on four areas - impairment, infectious disease, mental health and remote patient monitoring/telehealth. Dr Rahul Kushwah, president and COO of Predictmedix says the market opportunity across this spectrum is enormous - up to an eye-watering US$300 billion.

The company was co-founded by Kushwah, a former Professor at the University of Ottawa's medical school and a scientist with the government of Canada (National Research Council) turned entrepreneur, and capital markets specialist Sheldon Kales who is a serial entrepreneur and has led the transition of several companies from private space to public trading.

How is it doing:

Predictmedix has had an eventful start to 2021, announcing on February 4 that it was partnering with Juiceworks Exhibits (JUICEWORKS) and Wellness for Humanity to deploy its Safe Entry Stations at the Super Bowl festivities in Tampa, Florida. Developed by infectious disease clinicians and data scientists, Safe Entry Stations are powered by Artificial Intelligence and operate in an autonomous and time-efficient fashion.

The company said E11EVEN Miami, the world's first and only 24/7 ultra-club known for presenting up close & personal live performances while playing host to some of the biggest celebrities in the world, including Drake, Kendall Jenner, Miley Cyrus, Leonardo DiCaprio, and Sting, among others, would be hosting two of five parties taking place at WTR, a 20,000-square-foot outdoor space located on The Godfrey property. 

Rigorous safety protocols were being used to protect partygoers, staff and all involved throughout the entirety of the weekend. Prior to entering the space, attendees passed through the Safe Entry Station, which screened them for multiple symptoms associated with COVID-19. If the Safe Entry Station did not clear the attendee, they would then have an additional level of testing provided by Wellness 4 Humanity through a rapid antigen test that provided results in 15 minutes.

On February 16, the company updated shareholders on the deployment of its technology at the parties in Tampa Bay. The company said three units were deployed in total and over 6,000 individuals were scanned. One of the individuals at the event tested red and was subject to a rapid antigen test immediately after, which later confirmed a diagnosis of coronavirus (COVID-19), it added.

At the start of December 2020, Predictmedix had revealed that Wellness 4 Humanity, one of the first organizations to offer coronavirus (COVID-19) testing to support communities, was deploying the Safe Entry Stations at Simon Mall’s Houston Galleria, an upscale shopping mall located in the uptown district of Houston, in Texas. The Galleria is Texas’ largest shopping mall with more than 400 stores.

And in a January 25 2021, corporate update, the company noted that its Safe Entry Station was to be showcased in a live event on January 26 in New York City at Wellness4Humanity's flagship location at 225 West 34th Street near Pennsylvania Station.

Elsewhere in January's corporate update, Predictmedix also said it had successfully deployed its technologies for beta testing with major partners in North America and Asia, including Fortune 500 firm India Oil, MGM Hospital COVID-19 ward (one of the largest COVID-19 hospitals in Mumbai, India) and water company Flow Water Inc, it noted.

It noted that prospective clients in the US are particularly interested in a solution that can detect metal as well as infectious disease symptoms. Predictmedix said it and Juiceworks were working with one of the largest metal detector manufacturers in North America to design such a solution.

The company also announced that it had signed a letter of intent (LOI) with one of the largest North American business consulting firms over business development initiatives and said that a definitive sales agreement and was also in discussions with major corporations to start cannabis and alcohol impairment testing pilots in North America, while marketing and sales efforts had ramped up to identify beta partners targeting strategic sectors in North America.

Meanwhile, in November 2020, Predictmedix announced a tie-up with India's premier defence technology company, Paras Defence & Space Technologies Ltd. in a bid to launch its technology in the government and public sector in South Asia. Paras is already a registered vendor to almost all the government and public sector departments in India. 

Predictmedix will work alongside the group to launch its infectious disease symptom and impairment screening technologies within these sectors. Paras manufactures defence electronics and space application products. It offers defence automation and control, rugged displays, computing, sensors, missile motors, rockets, telescopes, guns, and ammunition, special-purpose machinery.

Inflection points:

  • Further news on Safe Entry Station deployments
  • More details on a letter of intent with a North American business consulting firm
  • News on discussions with major corporations to start cannabis and alcohol impairment testing pilots in North America

What the boss says:

Announcing the company's India tie-up in November 2020, Dr Rahul Kushwah, chief operating officer of Predictmedix said; "We are extremely excited to partner with Paras as not only are they the premier defence technology company in India but they also have an established presence in the government and the public sector."

"We will be leveraging their expertise not only for fabrication but also to target this significant business opportunity," he added.

Contact the author at jon.hopkins@proactiveinvestors.com

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Predictmedix Inc. named herein, including the promotion by the Company of Predictmedix Inc. in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Predictmedix utilizes technology to keep patrons safe during the Super Bowl...

Predictmedix (CSE: PMED- OTCQB: PMEDF) CEO Rahul Kushwah joined Steve Darling from Proactive to share news about the company’s recent product deployments in partnership with Juiceworks Exhibits and Wellness 4 Humanity in Tampa Bay, Florida for the big game. Kushwah telling Proactive this...

2 weeks, 3 days ago

5 min read