- 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:
It’s been an active 2021 so far for Predictmedix.
In August, the company said it had entered into a strategic partnership with Paras TechCare, a division of Paras Defence & Space Technologies Ltd (Paras), under which Paras will manufacture, market, sell and distribute Predictmedix's proprietary Safe Entry Stations in a turnkey manner for deployment in the public sector throughout India.
Under the terms of the new reseller agreement, Paras TechCare will manufacture and sell Safe Entry Stations within the southern Asian market on behalf of Predictmedix, where Paras maintains significant public sector relationships through its defense contractor business lines.
Predictmedix noted that Paras is an approved registered vendor to almost all government and public sector departments throughout India and is one of the largest providers of defense-related technologies to the Indian government, with clientele extending into other Asian and Middle Eastern countries.
Earlier in the month, the company announced the revenue-generating deployment of four Safe Entry Stations at the Palm Tree Music Festival in New York.
The event was held on August 29 in Westhampton Beach as part of the Predictmedix's reseller partnership with the US-based JUICEWORKS.
In a statement at the time, the company said the festival will serve as a unique opportunity to demonstrate its proprietary AI-enabled screening solution to representatives from local, state, and federal government agencies, the military, and tier-1 event organizers in attendance.
Meanwhile in June, Predictmedix reported the expansion of its Safe Entry program with SBL Testing Technologies Inc (SBL) in partnership with Juiceworks Exhibits (JUICEWORKS).
With a strong presence in Canada and the US, established multinational clientele, and key partnerships with companies such as Sparta Group, the company noted that SBL is also aggressively positioned to permeate the industrial vertical with this new offering. Its territory will include North America and the Caribbean.
Also in June, Predictmedix deployed its Safe Entry Stations to rapidly screen patrons and staff at the Italian Contemporary Film Festival’s (ICFF) Lavazza Drive In held in Ontario.
At the time, the company noted the Safe Entry Stations deployment marked the third of its kind in the live event space, expanding Predictmedix’s offerings into a new industry vertical.
Previous deployments included a series of VIP parties at the Super Bowl in February as well as a partnership for HockeyFest, a travelling hockey tournament that kicked off in July and was hosted throughout North America.
And in May, Predictmedix announced the deployment of its Safe Entry Stations at the Aster Garden Optima Living Community in Edmonton, a newly-established senior living community offering independent living and memory care.
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:
Commenting on the company’s strategic partnership with India’s Paras TechCare, Predictmedix chief operating officer Rahul Kushwah said in a statement: “Allowing Paras TechCare to fabricate our platform in India will utilize their engineering expertise to help decrease production time, control costs and increase efficiencies.”
Kushwah added: “We are eager to leverage their established relationships in the government, targeting key public sector opportunities where our safety solution can add the most value.”
Contact Sean at sean@proactiveinvestors.com
