TORONTO, ON / ACCESSWIRE / March 21, 2023 / Predictmedix Inc. ("Predictmedix" or the "Company") (CSE:PMED)(OTCQB:PMEDF)(FRA:3QP), a leading provider of rapid health screening solutions powered by proprietary artificial intelligence (AI), announced today that the US Patent Office has granted a patent for its AI-powered technology (United States Patent Application Number: 16/892,369) for the non-invasive detection of impairment caused by alcohol and/or cannabis.
The patented technology uses multispectral imaging and speech analysis to identify and extract features from an individual, allowing the technology to determine whether the individual is exhibiting signs associated with impairment. The technology is part of the Company's Fit for Duty screening solutions, which provide contactless and bias-free screening for impairment, extreme fatigue, and infectious diseases.
The Safe Entry is a walk-thru system which uses a multispectral imaging camera and AI computing to gather key physiological information in just 2-3 seconds to determine an individual's physiological state. Unlike urine and breathalyzer tests, Safe Entry is contactless, which means no biological fluids are taken. Safe Entry is powered by AI and ML algorithms, which give individuals a fair and accurate assessment of their physiological state.
"The patent grant for our impairment screening technology is yet another milestone for Predictmedix," said Dr. Rahul Kushwah, Chief Operating Officer at Predictmedix. "Our proprietary technology has the potential to revolutionize the way that businesses and organizations screen for impairment. We have a lot of exciting opportunities in our pipeline and being to be at the forefront of this scientific AI breakthrough and providing proven, accurate solutions to combat impairment is a top priority for Predictmedix. Our team is dedicated to continuing to innovate and improve our technology to provide our clients with the most effective and efficient solutions. With the grant of this patent, we have strengthened our position as a leader in the health screening industry and we are excited to continue to expand our offerings and make a positive impact on workplaces and organizations around the world."
The global workplace safety market was valued at $12.8 billion in 2021, and is projected to reach $39 billion by 2031, growing at a CAGR of 12.2% from 2022 to 20311 while the Drug Screening market size is expected to grow at a CAGR of 15.97% from 2022 to 2029, reaching nearly USD $22.24 billion.2
1 https://www.alliedmarketresearch.com/workplace-safety-market-A31780
2 https://www.emergenresearch.com/industry-report/drug-screening-market
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, fatigue 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
(905) 660 9155
Nelson@hudescommunications.com
Dr. Rahul Kushwah
(647) 889 6916
Caution Regarding Forward-Looking Information:
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.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.
Disclaimer: "The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time."
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: PredictMedix Inc.
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