Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI) has received a non-binding Letter of Intent (LOI) from KaTron Defence Space and Simulation Technologies, a leading Turkish provider of simulation products and services for aviation and aerospace, for the deployment of 80 Safe Entry Stations for their corporate headquarters in Ankara, Turkey along with international clients.
The LOI, which reflects subscription fees of at least $1.4 million per year, is pending receipt of publication of results from a clinical study in a peer-reviewed publication before transitioning to a formal purchase order, the announcement of which is expected in the third quarter of 2022.
The LOI covers the deployment of 80 Predictmedix Safe Entry Stations, which are used to power “Fit for Work” screening – a non-invasive, autonomous, non-biased and cost-efficient workplace screening solution for countless industries around the globe.
Fit for Work screening ensures workers are in an alert mental and physical state by screening for impairment from cannabis and alcohol, extreme fatigue, as well as symptoms of infectious diseases, such as COVID-19.
“KaTron has illustrated a strong commitment to ensuring workplace safety and reducing costly worker accidents,” said Dr. Rahul Kushwah, interim CEO at Predictmedix. “This order highlights how our technology allows companies to enhance productivity by ensuring a safe and productive work environment. As companies around the world seek to mitigate the probability of infectious diseases that can infect entire teams, as well as reduce the costly burden of substance impairment and fatigue, the demand for a complete technology solution like our Safe Entry Station will continue to grow."
Kushwah explained that they are currently conducting a study with researchers who are using the company's Safe Entry Stations.
“We are now conducting a clinical study with researchers and doctors at a North American hospital that are using our Safe Entry Stations to screen for symptoms of infectious diseases and signs of impairment from cannabis and alcohol. We look forward to working with KaTron to fulfill this order once results from this independent clinical validation are published later this year – a key step as we strive to continue to build value for our shareholders,” Kushwah concluded.
Photo courtesy of Predictmedix
