First deployment in Northeast India to serve as showcase for 8 Northeastern states
Revenue generating with potential for significant expansion
TORONTO, ON / ACCESSWIRE / February 7, 2024 / Predictmedix AI Inc. (CSE:PMED)(OTCQB:PMEDF)(FRA:3QP) (the "Company" or "Predictmedix"), a leading provider of rapid health screening solutions powered by proprietary artificial intelligence (AI), today announced that its state-of-the-art AI-driven Safe Entry Stations will be deployed at Trinity Hospital, Mizoram, India. This strategic initiative aims to revolutionize the screening process for vitals and mental health. Moreover, this sets the stage for broader deployment across privately held hospitals in Northeastern states. This is the company's first deployment in Northeast India which will also serve as a showcase for 8 North Eastern States in India.
Northeast India, encompassing eight states-Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, and Sikkim-houses a population exceeding 50 million. This region represents a significant demographic and strategic area, poised for transformative healthcare advancements and economic growth.
This deployment marks Predictmedix AI's commitment to advancing healthcare solutions by introducing cutting-edge technology to facilitate efficient and securely screening process in healthcare for vitals as well as mental health. The approach involves the implementation of AI-driven Safe Entry Stations at Trinity Hospital and a planned expansion to other privately held hospitals in Northeastern states of India, targeting improved health and safety measures.
The impact of this deployment is multifaceted, encompassing not only the generation of revenue through the implementation of Safe Entry Stations but also solidifying Predictmedix AI's position as a pivotal entity in driving transformative healthcare solutions within the region. In addition, the partnership model with Trinity Hospital, a private healthcare institution, includes a revenue-sharing agreement where 70 percent of the revenue generated from each patient screened by the AI-Powered Safe Entry Stations will be allocated to Predictmedix AI. This arrangement not only underscores the financial viability of the deployment but also highlights the potential for substantial revenue growth as the technology is adopted across additional healthcare facilities.
"We are excited to bring our AI-powered Safe Entry Stations to Trinity Hospital, enhancing their triage capabilities," commented Rahul Kushwah, COO of Predictmedix AI. " This strategic deployment not only serves the immediate needs of Trinity Hospital but also lays the groundwork for a comprehensive expansion across Northeastern India, showcasing our commitment to advancing health and safety measures.
Predictmedix AI's Safe Entry Stations utilize advanced artificial intelligence for quick and reliable health assessments, contributing to a safer and more streamlined triage process. The company looks forward to working closely with Trinity Hospital and other healthcare institutions in the region, providing innovative solutions to meet the evolving challenges in healthcare.
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About Predictmedix AI Inc.
Predictmedix AI Inc. (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 19 physiological vital parameters, impairment by drugs or alcohol, fatigue, or various mental illnesses. Predictmedix AI'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.
Public Relations Contact
For further media information or to set up an interview, please contact:
Nelson Hudes
Communications International (905) 660 9155
Nelson@hudescommunications.com
Dr. Rahul Kushwah (647) 889 6916
Caution Regarding Forward-Looking Information:
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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SOURCE: Predictmedix AI Inc.
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