Vuzix Smart Glasses Support New Partnership Designed to Solve Global Health Workforce Shortages

Rhea-AI Summary

Vuzix (NASDAQ: VUZI) announced a new partnership with Global Health Education Group and the University of Leeds to enhance remote medical learning using Vuzix smart glasses. This initiative aims to address the global shortage of healthcare professionals, estimated at 10 million. The innovative platform allows healthcare students to participate in clinical training from a distance, using Vuzix smart glasses to see and interact with patients in real-time. This solution could expand clinical training opportunities significantly, particularly in underserved areas. Both companies emphasize the importance of AR technology in improving healthcare education.

Positive

• Partnership with Global Health Education Group and the University of Leeds boosts Vuzix's market presence.
• Augmented reality technology enhances remote clinical training opportunities.
• Potential to address the global shortage of healthcare workers, expanding educational access.

Negative

• None.

-   A new partnership between Global Health Education Group and the University of Leeds will use Vuzix smart glasses to provide remote medical learning and interaction

ROCHESTER, N.Y., March 27, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that its smart glasses have been selected to support a new partnership between med-tech specialist Global Health Education Group ("GHEG") and the University of Leeds, one of the largest higher education institutions in the UK. GHEG has developed an online learning tool designed to significantly increase the accessibility, scale and quality of clinical training opportunities available to healthcare students.

Clinical training in hospitals and health practices is a necessary and key component of medical and healthcare education around the world. The current shortage of such placement opportunities can create bottlenecks, which in turn can hinder ongoing efforts to address the estimated shortfall of 10 million healthcare workers worldwide.

A new platform, developed by GHEG, in collaboration with the University of Leeds, will allow larger groups of healthcare and medical students to participate in clinical placements simultaneously, regardless of the distance between the patient and clinician in one location and multiple students in others. Students can see the patient through Vuzix smart glasses worn by the clinician, as well as hear the patient's heart and chest sounds through the e-stethoscope and ear through an e-otoscope, as if they were carrying out the examination themselves. They can also interact with the patient and ask questions. This solution, which will also expand clinical training and placement opportunities in hard-to-reach locations and settings, has been co-designed with general practitioners, clinical academics and researchers from Leeds' School of Medicine. It has already been tested with the assistance of medical students and phase two will be a feasibility study that is trialed with patients. The goal is to expand use of the solution within the UK and partner universities globally.

"We believe that the effective use of augmented reality and remote access, such as provided by Vuzix smart glasses, alongside in-person learning and clinical practice, will be crucial in enabling millions more healthcare workers to be trained affordably and to a high standard, in turn providing millions more people with better access to healthcare and able to live longer, healthier lives," stated Gideon Shimshon, Co-Founder and CEO of GHEG.

"We are thrilled to be part of such an important and sorely needed solution that can significantly help address the large shortage of qualified medical practitioners," said Paul Travers, President and CEO of Vuzix. "The use of AR smart glasses within healthcare continues to expand around the world. Vuzix smart glasses are ideal for a broad range of applications that span education, surgeries and OR management among other things."  

About Global Health Education Group

GHEG is a mission-led enterprise backed by university partners. Together we are developing the first hybrid medical school in the world. With innovation and impact at the core, we co-create and deliver the best healthcare learning solutions to partners worldwide. Our team includes medical experts and academics from leading institutions, pioneering founders of tech start-ups, and specialists in optimizing online and offline learning. We have a proven track record of delivering innovative, high-quality programs in globally recognized universities.

About Vuzix Corporation

Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds more than 275 patents and patents pending and numerous IP licenses in the Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2023 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.  For more information, visit the Vuzix website,  Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship and future opportunities with GHEG and their customers, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Vuzix Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com 
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com  www.vuzix.com

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SOURCE Vuzix Corporation

FAQ

What is the new partnership involving Vuzix (VUZI) about?

The partnership between Vuzix, Global Health Education Group, and the University of Leeds focuses on using Vuzix smart glasses to enhance remote medical learning and training.

How will Vuzix smart glasses be used in healthcare education?

Vuzix smart glasses will allow healthcare students to remotely observe and interact with patients during clinical training sessions.

What is the goal of the partnership announced by Vuzix (VUZI) on March 27, 2023?

The goal is to improve the accessibility and quality of clinical training for healthcare students, helping to address the estimated shortfall of 10 million healthcare workers globally.

Why is the partnership between Vuzix and GHEG significant for healthcare training?

It provides a solution to the shortage of clinical placement opportunities, enabling more students to gain practical experience simultaneously.