I love it when a plan comes together. Predictmedix (PMED.C) continued to launch itself upward this week, jumping from $0.72 to $0.98 in just days, on the back of news it’s being used by a large events company, and financials that show a very short road to profitability.
For those that haven’t been paying attention – and I’m sorry if that group includes you because this thing has ripped from just $0.06 over the last few months of market weirdness – Predictmedix is an artificial intelligence company focused on cannabis and alcohol impairment testing, and other healthcare solutions.
Those ‘other’ healthcare solutions include a pretty major one dealing with COVID-19.
Predictmedix has developed a proprietary technology (patent pending) to screen for potential cases of COVID-19 and other related infectious diseases.
This solution involves multispectral imaging, which captures image information along specific wavelengths on the electromagnetic spectrum.
What does that mean for detecting COVID-19?
There is no need for any bodily fluids and there is no human exposure, as the screening is carried out using multispectral cameras, which can be installed at any facility.
To be sure, you’re not going to get your photo taken by Predictmedix and get a “Congratulations, you have CoronaVirus!” screen at the other side but you will, if you indeed have a virus, throw off indicators that the PM system can check off their list.
- Elevated temperature? Check.
- Heavy breathing? Check.
- Heavy sweating? Check.
Time to go in for a secondary screening, friend.
Here’s what it looks like:
Predictmedix Inc. has executed a sales contract for its COVID-19 screening technology with Juiceworks Exhibits, a full-service design and build company that creates brand experiences for leading brands across North America with operations both in Canada and the United States.
Utilizing Predictmedix COVID-19 mass screening technology, Juiceworks is offering safe indoor/outdoor entry solutions using custom-fabricated temporary structures. All of the entry solutions being sold by Juiceworks across North America will be retrofitted with Predictmedix technology for COVID-19 mass screening.
That’s the consumer-facing side. The medical side can be seen in their deal with Max Healthcare.
Max Healthcare has 14 hospitals in India,offering services in over 30 medical disciplines. Max Healthcare has a base of over 3,000 doctors, 10,000 employees and over 2.2 million patients from over 80 countries, across its network of 14 hospitals.
Those deals have only recently come to light, so revenues aren’t busting into the picture just yet, but for all of last year, Predictmedix only spent $2.3 million, with $1.5 million of that coming from the acquisition of the screening IP.
So you’ve got a low cost, non invasive screening IP that involves the most expensive pandemic in human history, one of many that seem to come with alarming regularity these days.
If that tech can also detect cannabis inebriation, that’s a $100 million product by itself,and who knows how much coin could be extracted helping buildings, airports, arenas and workplaces become less prone to infection?
There are a lot of companies out there right now claiming to be looking for a cure, a treatment, or a preventative process to help society beat COVID-19, but Predictmedix’s tech also seems to shift along into other diseases that can throw off indications that will be picked up through their screening process, which makes it a much more rounded option than many.
At the end of it all though, is this.
Whatever they’re doing, they’re doing right so far.
— Chris Parry
FULL DISCLOSURE: Predictmedix is an Equity.Guru marketing client