Predictmedix Announces a Purchase Order for Safe Entry's Fit for Duty Screening in the Defence Sector
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.
- Secured a $500,000 purchase order with DefSpace for four Safe Entry Stations.
- Recurring revenue of $2,500 per month from each station over four years.
- Potential expansion in the growing global workplace safety market valued at $39 billion by 2031.
- None.
DefSpace, a global platform for Defence, Space and Aerospace will lease four Safe Entry Stations over four-year term primarily utilizing Safe Entry's impairment detection screening
Each of the four Safe Entry Station's to generate
The Global workplace safety market is expected to generate
TORONTO, ON / ACCESSWIRE / March 6, 2023 / Predictmedix Inc. ("Predictmedix" or the "Company") (CSE:PMED)(OTCQB:PMEDF)(FRA:3QP), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI), today announced a purchase agreement with Defspace, an India based global platform for defence, space and aerospace for the company's Safe Entry's Fit for Duty screening. Defspace will lease four Safe Entry Stations which will be used by their clients in the defence and aerospace sector to screen their workforce for signs of impairment - an issue that hinders productivity and threatens health and safety across all operations. The total value of the purchase order is approximately
DefSpace operates an exclusive global platform for Defence, Space and Aerospace. The platform offers secured and authorised connections between buyers and sellers, Investment opportunities, job opportunities and many services that add significant value to companies who are already working in Defence, Space and Aerospace Sector or for those just entering the field. "The technology developed by Predictmedix addresses a key unmet need in several sectors which not only includes healthcare and workplace but also the defence and aerospace industry. We are excited and confident of the positive impact the technology will be making in the defence sector", commented Anushka Shah, Jiwanshi Shah, Founders at DefSpace.
"Impairment is a huge concern for many industries and sectors worldwide. Safe Entry's Fit for Duty screening ensures workforces are fit for duty by screening individuals key vital signs. When an individual is impaired by alcohol or cannabis, Safe Entry will let you know. The multi-spectral cameras and AI-algorithms scan for a multitude of physiological factors and behaviors - indicating intoxication, impairment, sickness, and extreme fatigue. Safe Entry is a strong line of defence against encumbered employees, and we are excited to announce our first contract in the defence sector," commented Dr. Rahul Kushwah, Chief Operating Officer at Predictmedix.
"We are excited to be moving ahead with commercialization in the defence space with DefSpace and are seeing tremendous interest across multiple verticals", commented Guru Bakshish Singh Sehgal, Head of Indian operations at Predictmedix.
About Predictmedix Inc.
Predictmedix (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 infectious diseases such as COVID-19, impairment by drugs or alcohol, fatique or various mental illnesses. Predictmedix'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
Hudes Communications International
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Nelson@hudescommunications.com
Dr. Rahul Kushwah
(647) 889 6916
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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 Inc.
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FAQ
What is the significance of the $500,000 agreement with DefSpace for PMEDF?
How does the Safe Entry technology work for workforce screening?
What is the projected growth of the workplace safety market?
What sectors will benefit from Predictmedix's Safe Entry Stations?
