Predictmedix - PMEDF STOCK NEWS

Predictmedix Inc. has announced an update on its AI-powered impairment detection technology following a US patent grant for non-invasive detection of impairment from alcohol and/or cannabis. The technology boasts over 90% accuracy using multispectral imaging and speech analysis, with expectations for improved performance due to AI advancements. Targeting global law enforcement and high-risk industries, Predictmedix aims to capitalize on the $39 billion workplace safety market and $22.24 billion drug screening market projected to grow significantly by 2031. The company is focusing on commercializing a mobile app alongside a multispectral imaging camera for impairment detection.

Predictmedix Inc. has received a US patent for its AI-powered technology designed for non-invasive detection of impairment caused by alcohol and cannabis. This innovative system employs multispectral imaging and speech analysis to assess individuals' physiological states rapidly, offering a contactless alternative to traditional tests. The technology is integrated into the Company’s Fit for Duty screening solutions and Safe Entry system, which analyze data in mere seconds. The global workplace safety market is projected to grow significantly, indicating strong market potential for Predictmedix's patented solutions, aimed at improving workplace safety and health assessment.

Predictmedix has initiated the production of an AI-powered mobile application designed to detect impairment from alcohol and cannabis. This innovative tool uses a portable multi-spectral imaging camera and can identify impairment in under 30 seconds with an accuracy exceeding 90%. The product aims to serve law enforcement, transport, and other high-risk sectors. The drug screening market, valued at over $5.2 billion in 2021, is projected to surpass $22 billion by 2030, presenting substantial growth opportunities for Predictmedix. They are also focusing on intellectual property protection for their technology.

Predictmedix Inc. (CSE:PMED, OTCQB:PMEDF) has successfully completed a 1600-person clinical study at a leading Indonesian university, aimed at securing regulatory approval for its AI-powered Safe Entry screening device to be classified as a medical device. This classification is crucial for commercialization in Indonesia, which is home to over 280 million people. The study validated the effectiveness of Safe Entry, with the approval process expected to be swift due to its non-invasive nature. This advancement marks a significant milestone for Predictmedix, as it builds credibility and paves the way for future sales opportunities in the ASEAN region.

Predictmedix Inc. has secured a purchase agreement with DefSpace to lease four Safe Entry Stations over a four-year term, generating $2,500 per month per station, totaling approximately $500,000. This deal positions Predictmedix within the defence and aerospace sectors, addressing critical issues such as workforce impairment which impacts productivity and safety. The global workplace safety market is projected to reach $39 billion by 2031, highlighting significant growth potential. The technology facilitates vital sign screenings for alcohol or drug impairment using AI algorithms and multispectral cameras.

Predictmedix Inc. (CSE:PMED, OTCQB:PMEDF) announced significant clinical validation for its AI-driven Safe Entry Stations from a major hospital group in India. This confirmation follows a 400-patient study demonstrating the technology's ability to screen for various health conditions non-invasively. Safe Entry Stations utilize multi-spectral imaging to assess vital signs like temperature and heart rate in a matter of seconds, enhancing patient care while alleviating the burdens on healthcare professionals. The system has been deployed for over 18 months at MGM Healthcare, receiving positive evaluations for its accuracy, especially during the peak of the COVID-19 outbreak.

Predictmedix Inc. (CSE:PMED)(OTCQB:PMEDF) has successfully closed a non-brokered private placement, raising $612,500 by issuing 12,250,000 units at $0.05 per unit. Each unit comprises one common share and one warrant, exercisable at $0.10 for up to two years. The funds will support general operations and technology upgrades. The company also announced the acceptance of its shares for trading on the Frankfurt Stock Exchange under the symbol 3QP, enhancing its liquidity and visibility in Europe. The AI healthcare market is projected to grow significantly, indicating potential growth for Predictmedix.

Predictmedix Inc. (CSE:PMED)(OTCQB:PMEDF) has announced significant updates on its Safe Entry health screening technology, which identifies infectious diseases and impairments in the workplace. The Fit for Duty solution has improved its accuracy and functionality through technological advancements and clinical validations, achieving an impressive 91% accuracy in fatigue detection. The company is poised for commercial expansion in 2023, with a growing sales pipeline and plans for deployments in various industries, capitalizing on a projected $26.7 billion workplace safety market by 2027. Predictmedix aims to enhance shareholder value through partnerships and product validation.

Predictmedix (CSE:PMED, OTCQB:PMEDF) has announced the deployment of its Safe Entry solution at LongArm Engineering's Odessa, Texas facility. This implementation, secured through SBL Testing Technologies, aims to enhance workplace safety by screening staff for infectious diseases and substance use. The demand for Safe Entry is growing globally, reflecting its unique capability to detect various health issues through AI technology. The initiative underscores Predictmedix's commitment to improving health outcomes in dynamic work environments.