Xcelerate Announces that Afya Sasa Signs Agreement with the National Hospital of Tanzania

Rhea-AI Summary

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.

Positive

• Agreement with Afya Sasa Africa to provide AI healthcare services at Tanzania's largest hospital.
• Anticipated revenue stream from multiple sources starting Q4 2023.
• Exclusive rights for AI healthcare solutions across 10 priority African markets, targeting 1 billion people.

Negative

• None.

Agreement is intended to be the initial step to provide AI based health care services in Africa.

MAULDIN, SC / ACCESSWIRE / March 14, 2023 / Xcelerate, Inc. (OTCQB:XCRT) today announced that Afya Sasa Africa LLC, a subsidiary of Xcelerate, signed an Agreement to implement its Artificial Intelligence (AI) based health services at The National Hospital of Tanzania, Muhimbili National Hospital, Mloganzila in Dar es Salaam, Tanzania, the largest hospital in East Africa. Muhimbili National Hospital System is the premier tertiary care hospital system (1,500 inpatient beds, 2,000 outpatient visits per day) for all of Tanzania, a country of 64 million people.

"We will start with MNH Mloganzila, then expand to MNH Upanga. Once successful there, the Ministry of Health will want the system for the whole country" said Professor Mohamed Janabi, Executive Director Muhimbili National Hospital. Dr. Dilan Ellegala, Senior Member of the Company's Advisory Board and Co-Founder of Afya Sasa Africa commented "This is our chance to demonstrate the effectiveness of our platform for large regional hospitals serving remote rural communities."

"The contract provides for revenues to come from multiple sources including member fees, technology (hospital) fees, prescription fees and virtual consultation fees (as a % of billings by the provider), as well as nationwide National Health System underwriting commitments once the system is fully integrated. This event is the culmination of one and a half years of work by the Afya Sasa team as funded by Xcelerate and we anticipate commencement of a revenue stream from this project by Q4 of 2023" commented Mike O'Shea, CEO of Xcelerate.

Afya Sasa leverages the power of advanced artificial intelligence to assist the clinician in the proper diagnosis, testing, and treatment to enhance the effectiveness and efficiency of clinicians while providing the patient enhanced access to state-of-the-art care in line with the goals of the Government of Tanzania.

"Afya Sasa Africa can be customized to disease prevalence's by country and even to specific regions within a country and can be accessible in English and Swahili. "We believe Artificial Intelligence and Afya Sasa's System can bridge the gap in unmet healthcare need in the developing world" notes Sri Perera, Afya Sasa Tanzania Managing Director.

The Afya Sasa system is powered by AdviNOW Medical. The two companies have executed exclusive rights agreements for 10 initial priority markets across Africa including Tanzania, Kenya, Ethiopia, Uganda, Malawi, Zambia, Ghana, Zimbabwe, Botswana, South Africa and Egypt, representing a total catchment of 1 billion people.

Over the ensuing months the Agreement provides for Afya Sasa Tanzania to begin execution in the following phases:

1. Assessment of IT and Electronic Medical Record (EMR) systems at MNH and Integration of Afya Sasa systems with MNH.
2. Launching of a pilot cardiac module.
3. Expansion to all primary and specialty medical areas.

ABOUT XCELERATE INC.
In May 2020, Xcelerate commenced implementation of a new business plan that encompasses two separate but related businesses within the medical industry, including (i) owning and licensing the rights to various forms of medical equipment and portfolio of patents, patents pending and technology licenses and (ii) development of virtual health technology to assist patients in developing countries initially in Africa to provide for their population to obtain medical care by extending the reach of physicians through the use of that technology. In 2023 the Company announced the formation of the Xcelerate Brands Division to investigate and act on the use of its patented health care and wound care IP in over-the-counter consumer products market. In furtherance of that program the Company recently entered into a Letter of Intent to purchase a controlling interest in ESN Group of Santa Barbara, CA, an established skincare products business. The Company has also entered into an agreement with a consumer products distributor to develop a program for marketing these products to mass market retailers throughout North America.

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.

For more information:
Michael O'Shea, CEO, at 854-900-2020
email: info@xcelerate.global
www.xcelerate.global

SOURCE: Xcelerate, Inc.

View source version on accesswire.com:
https://www.accesswire.com/743536/Xcelerate-Announces-that-Afya-Sasa-Signs-Agreement-with-the-National-Hospital-of-Tanzania

FAQ

What is the agreement signed by Xcelerate, Inc. regarding healthcare services?

Xcelerate, Inc. signed an agreement with Afya Sasa Africa to implement AI-based healthcare services at Muhimbili National Hospital in Tanzania.

When does Xcelerate expect to start generating revenue from the new healthcare project?

Xcelerate anticipates commencement of revenue from the project by Q4 2023.

Which hospital is involved in Xcelerate's AI healthcare project?

The project is being implemented at Muhimbili National Hospital, the largest hospital in Tanzania.

What markets does Afya Sasa aim to serve with its AI healthcare solutions?

Afya Sasa aims to serve 10 initial priority markets across Africa, including Tanzania, Kenya, and South Africa.