Michael O’Shea CEO, Releases Shareholder Update

Rhea-AI Summary

Xcelerate, Inc. (OTC Pink: XCRT) has acquired a 51% stake in AfiyaSasa Africa, LLC to improve healthcare access in Africa. CEO Michael O’Shea announced that Dr. Dilan Elegalla has moved to Tanzania to lead a pilot program, with Sriyanjit Perera as CEO of ASA. The initiative aims to utilize patented telemedicine technology to connect patients with physicians via mobile devices. With 650 million mobile users in Africa, ASA expects to launch a fully operational beta site by the end of Q2 2022 and become revenue-producing before year-end.

Positive

• Acquisition of 51% interest in AfiyaSasa Africa, LLC enhances market presence.
• Deployment of advanced telemedicine technology expected to meet healthcare needs in Africa.
• Qualified personnel hired to establish operations in Tanzania, enhancing operational readiness.
• Projected growth in mobile users in Africa creates a favorable environment for ASA's services.
• Expected launch of a fully operational beta site by Q2 2022, indicating progress.

Negative

• None.

Mauldin, SC, March 09, 2022 (GLOBE NEWSWIRE) -- Xcelerate, Inc. (OTC Pink: XCRT) Michael O’Shea, CEO, today released a shareholder update. 

“As recently announced, Xcelerate has acquired a 51% membership interest in AfiyaSasa Africa, LLC (“ASA”) (Swahili “Health Now Africa”). We are now excited to announce that Dr. Dilan Elegalla has relocated to Tanzania to establish a pilot program and ASA has hired four employees including C.E.O. Sriyanjit Perera. Sriyanjit served for 10 years in Dar Es Salaam, the capital of Tanzania, as a Health Information System Advisor assigned to the CDC’s Health Information System where he worked closely with senior Ministry of Health and Social Welfare officials to lead efforts to strengthen monitoring and evaluation and Health Information Systems across the Tanzanian Health Sector. In addition to Sriyanjit, ASA has hired three senior Information System Developers with experience in banking, national information systems, hospital, and health sector systems across Tanzania.”

“Currently in the U.S. there is one physician for every 390 citizens. In Africa that number is one physician for every 5,000 citizens. “ASA is uniquely positioned to help the people of Africa meet their medical needs by extending the reach of physicians to their patient’s mobile devices through a patented breakthrough technology.” said Michael O’Shea, Xcelerate CEO. The ASA system is accessed by patients using their cell phones, tablets, or computers, and allows licensed physicians and other medical personnel to conduct initial check-in, triage, and determine the most appropriate care path, virtually. The system is equipped with facial recognition and storage capability to ascertain if the patient is a return patient. Additionally, through a set of questions and answers that are dynamically integrated with the system's proprietary AI component, measurements are taken with medical devices that connect to a cell phone, tablet, or computer (e.g. stethoscope, thermometer, pulse oximeter etc.), bringing the telemedicine virtual appointment to the next level and beyond. The AI assists with Q&A and with the AR to arrive at diagnostic possibilities, testing and treatment options and the next steps for the patient.”

“Currently there are 650 million mobile users in Africa, far surpassing the number in the United States or Europe. It is estimated that by 2025 over 1 billion Africans will have access to a SIM connection, representing an overwhelming percentage of the population, and the ASA program is expected exponentially change the face of access to medical care for those individuals. While no assurances can be provided, ASA expects to have a fully operational beta site by the end of Q2 2022 and expects to be revenue-producing before the end of 2022.”

For more information, please contact: info@xcelerate.global

SAFE HARBOR

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.

FAQ

What is the latest update from Xcelerate (XCRT) regarding its business strategy?

Xcelerate has acquired a 51% stake in AfiyaSasa Africa, aiming to expand healthcare access in Africa using telemedicine.

When does Xcelerate expect its AfiyaSasa program to generate revenue?

Xcelerate expects the AfiyaSasa program to be revenue-producing before the end of 2022.

What telemedicine technology is Xcelerate implementing in Africa?

Xcelerate's telemedicine technology allows licensed physicians to conduct consultations and triage via mobile devices.

Who are the key personnel involved in the AfiyaSasa project?

Dr. Dilan Elegalla is leading the program, while Sriyanjit Perera serves as the CEO of AfiyaSasa Africa.

How many mobile users are there in Africa, according to Xcelerate's announcement?

There are currently 650 million mobile users in Africa, with projections of over 1 billion by 2025.