New Approach to Measuring Impact of Counselling to Deliver Next Generation Care to Mental Health Sufferers in North America
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - Cognetivity Neurosciences Ltd. (CSE: CGN) (OTCQB: CGNSF) (FSE: 1UB) ("the Company" or "Cognetivity"), a leading artificial intelligence (AI) healthcare technology company is delighted to announce a partnership with No Fear Counselling, the leading and rapidly growing Vancouver-based counselling practice with over 150 therapists and a network of 60 locations. This groundbreaking partnership, utilising Cognetivity's AI powered CognICA technology, promises to usher in a new era of mental well-being by providing cutting-edge tools to assess and enhance cognitive health.
In today's ever-evolving landscape of mental health, the need for effective interventions and continuous monitoring of cognitive well-being has never been more crucial, but until now the ability to precisely and frequently measure cognitive function has not been available outside of expensive clinics. No Fear Counselling recognizes this imperative and is committed to offering its clients the most advanced solutions available. With the Canadian mental health market estimated at US$ 1.68 billion in 2023, and the overall US behavioural health market size of $87.3 billion in 2022, rising to $136.6 billion by 2032, the delivery of these represents a high growth opportunity for both No Fear and Cognetivity.
Cognetivity's revolutionary AI technology offers a quick and simple to use yet powerful means to measure and understand brain health, through its ability to measure small changes in brain function, allowing detection of brain health issues at the earliest stage and measuring the impact of interventions such as therapy and counselling. In the treatment of mental health issues, this capability enables a more profound connection and feedback on treatment effectiveness between patients and therapists, enabling personalized and effective care like never before. By partnering with Cognetivity, No Fear Counselling is demonstrating its unwavering dedication to providing clients with comprehensive and cutting-edge mental health care.
"No Fear Counselling is thrilled to join forces with Cognetivity to elevate our commitment to our clients' mental well-being," said Harry Parmar, Managing Partner at No Fear Counselling. "As effective interventions emerge for cognitive decline, there has never been a more important time to consistently check in with your brain health. With the right measurement tool, our brains can get the attention they deserve - and that tool is Cognetivity."
"No Fear Counselling's deserved reputation as a leader in the counseling industry aligns perfectly with our mission to empower individuals with the ability to monitor and improve their cognitive health," said Sina Habibi, CEO at Cognetivity stated. "By adding the unique capabilities of our CognICA technology to detect brain health issues, give feedback and measure the impact of interventions, whether clinical, through therapy or lifestyle improvement, No Fear stands at the forefront of the next generation of effective, personalized care. We're very excited to embark on this journey together, redefining the standards of mental health care."
The collaboration between No Fear Counselling and Cognetivity is a testament to their shared vision of a future where mental health is enhanced through accessible, innovative, and personalized solutions. It marks a significant milestone in the evolution of mental health care, setting a new standard for the industry and opening a vast market in North America and beyond. This approach aligns perfectly with Cognetivity Neurosciences' mission to utilize its AI platform technology to transform the landscape of brain health globally, enhance the quality of care provided to patients and to reduce the burden and cost to providers and payers, delivering the company's vision of A Brighter Mind for a Fuller Life.
The Company has also issued to certain employees 968,000 common shares of the Company at $0.15 per share as consideration for their services and loyalty for the last year during the challenging financial markets.
About Cognetivity Neurosciences
Cognetivity is a technology company that has developed a cognitive testing platform for use in medical, commercial, and consumer environments. Cognetivity's CognICATM uses artificial intelligence and machine learning technology to test the performance of large areas of the brain to help detect early signs of cognitive dysfunction. CognICA is currently available for clinical use in the United States, United Kingdom, Europe, Canada and the Middle East, with regulatory approval in other regions expected later in 2023.
About No Fear Counselling
No Fear Counselling is a leading counseling practice based in Vancouver, British Columbia, Canada. With over 150 dedicated therapists and a network of 60 locations, No Fear Counselling is committed to providing compassionate and effective mental health care. Their mission is to empower individuals to lead healthier, happier lives.
On behalf of the Board of Directors
"Sina Habibi"
Sina Habibi
Chief Executive Officer and Director
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