Welcome to our dedicated page for XCELERATE news (Ticker: XCRT), a resource for investors and traders seeking the latest updates and insights on XCELERATE stock.
XCELERATE INC (XCRT) is a healthcare services and products company that focuses on integrating innovative technologies into the medical field. Established with a mission to revolutionize clinical care through the application of advanced engineering and intellectual property, Xcelerate operates in three main business areas:
- Medical Technology and Virtual Health Services: Xcelerate is dedicated to extending the reach of physicians through AI and virtual health technology, especially targeting patients in developing countries.
- Consumer Health and Beauty Products: The company formulates, packages, and markets clinically tested health and beauty products, including the Ceramedx® line, which features plant-based ceramide therapy for dry and sensitive skin.
- Owning and Licensing Medical Equipment: Xcelerate holds and licenses various forms of medical equipment and a portfolio of patents and technology licenses.
Notable achievements include the recent publication of two utility patent applications by the United States Patent and Trademark Office, and the company's selection as an approved vendor for the Army & Air Force Exchange Service. Xcelerate is also actively involved in enhancing investor relations with the help of Darrow Associates and has partnered with Craft Capital Management to facilitate capital raising and advisory services.
With its headquarters in Mauldin, SC, Xcelerate is poised for significant growth and continues to develop its diverse range of healthcare solutions to improve global medical care.
Xcelerate (OTCQB:XCRT) has filed two utility patent applications (18/187,352 and 18/189,441) along with corresponding PCT applications (PCT/US2023/015755 and PCT/US2023/016194), building on its prior application from March 24, 2022. The patents focus on surgical tools with targeting guidance and reflect the company's mission to integrate engineering advancements into clinical care. CEO Michael O'Shea highlighted the importance of parallel development and intellectual property protection in their surgical device lines. The company is advancing its In-Tool-Optics prototypes that enhance surgical precision by offering a first-person view. Three product lines are being developed: ITO-Responder for emergency use, ITO-Clinic for hospital environments, and ITO-Infirmary for retrofitting existing tools. This initiative aims to improve efficiency in surgical procedures.
Xcelerate (OTCQB:XCRT) has concluded due diligence and entered into a binding agreement to acquire a controlling interest in ESN Group, Inc. The total transaction value is approximately $350,000 in cash, alongside the issuance of restricted stock, assumption of debt, and employment agreements for essential personnel. The acquisition is anticipated to close by June 30, 2023. This strategic purchase is positioned to provide Xcelerate with an immediate revenue stream and strengthen its portfolio in healthcare and skincare products. CEO Mike O'Shea indicated plans to expand product offerings into mass merchant outlets and government agencies, leveraging ESN's management expertise and industry connections.
Xcelerate, Inc. (OTCQB:XCRT) has signed an agreement with Afya Sasa Africa to implement AI-based healthcare services at Muhimbili National Hospital in Tanzania, the largest hospital in East Africa. This initiative aims to enhance healthcare delivery for Tanzania's 64 million people through advanced technology. The agreement includes multiple revenue streams such as member fees and consultation fees, with anticipated revenue starting in Q4 2023. The project phases include IT assessments and launching a cardiac module, with plans for nationwide expansion pending successful implementation.
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