Predictmedix Inc. (CSE:PMED, OTCQB:PMEDF) said it has received a letter of intent (LOI) from KaTron Defence Space and Simulation Technologies for the deployment of 80 Safe Entry Stations.
The company said KaTron—a leading provider of simulation products and services for aviation and aerospace—would deploy the Safe Entry Stations at their corporate headquarters in Turkey along with providing them to international clients.
Predictmedix said the LOI reflects subscription fees of at least US$1.4 million per year (C$1.85 million) pending the receipt of results from an ongoing clinical study on Safe Entry Stations to screen for symptoms of infectious diseases and signs of impairment from cannabis and alcohol being carried out at a North American hospital in a peer-reviewed publication.
READ: Predictmedix secures deployment of Safe Entry Stations at De Beers Forevermark Forum 2022
It is expected the LOI will then transition into a formal purchase order, the announcement of which is expected in 3Q, 2022.
Predictmedix’s Safe Entry Stations are used for “fit to work” screening, providing a non-invasive, autonomous, non-biased, and cost-efficient workplace screening solution for countless industries around the globe.
This screening ensures workers are in an alert mental and physical state by screening for impairment from cannabis and alcohol, extreme fatigue, and symptoms of infectious diseases such as COVID-19.
Predictmedix interim CEO Rahul Kushwah said this order highlighted how its technology allowed companies to enhance productivity by ensuring a safe and productive work environment.
"KaTron has illustrated a strong commitment to ensuring workplace safety and reducing costly worker accidents," Kushwah said.
“As companies around the world seek to mitigate the probability of infectious diseases that can infect entire teams, as well as reduce the costly burden of substance impairment and fatigue, the demand for a complete technology solution like our Safe Entry Station will continue to grow.”
Predictmedix is an artificial intelligence company developing disruptive tools for impairment testing and health care aimed at use across various workplaces and by law enforcement agents.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
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