Predictmedix (PMED.C) announced today that the Company has signed a 24-month, multi-unit contract to deploy its Safe Entry Stations throughout Flow Water’s (Flow) North American operations.
“Implementing Safe Entry at our plants has dramatically decreased our absenteeism and increased employee peace of mind. Keeping our staff safe is top priority, and as such, we were determined to implement the best available solution, which we found in Safe Entry,” affirms Nicholas Reichenbach, Founder & Executive Chairman of Flow.
Flow is a premium alkaline spring water company with an expansive portfolio of wellness-oriented beverages intended to promote the wellbeing of its consumers. However, Flow values the health of its employees equally and has taken measures to ensure the safety of its staff. The company initially implemented Predictmedix’s Safe Entry Stations at its Aurora facilities in August 2020. Since its initial deployment, Safe Entry Stations have become an essential part of Flow’s health and safety protocol.
Predictmedix’s Safe Entry Station is able to use artificial intelligence (AI) to analyze multiple symptoms associated with COVID-19 and other infectious diseases within seconds. With this in mind, the Company’s AI driven, multi-symptom screening technology has been able to provide employees with an added sense of security. As a result, fewer Flow staff members have been absent due to a fear of contracting the virus.
“Flow has been one of the earliest adopters of our technology and with them seeing a long-term value in our technology to keep their staff safe is a further testament to the utility of our technology in creating safe workplace environments. We are honoured to support them by deploying our technology throughout their operations in North America,” commented Dr. Rahul Kushwah, COO of Predictmedix.
Flow hopes to continue relying on Predictmedix’s Safe Entry Stations to ensure the safety of its workforce. With this in mind, Flow has entered into a multi-until revenue contract with Predictmedix for two years. Additionally, the company will now begin expanding the program to its remaining facilities in Aurora, Ontario, and Verona, Virginia.
Predictmedix latest news comes on the heels of the Company latest strategic partnership with JUICEWORKS and Connectus Global, two North American industry leaders. Connectus Global is recognized for its worker safety and location monitoring applications within the industrial and business sectors. By partnering with Predictmedix, Connectus will have a diverse suite of products to offer clients to promote health and safety in a variety of settings.
Through various partnership and its latest contract, Predictmedix has made rapid advancements in the artificial intelligence market. According to Fortune Business Insights, the global AI market size was valued at USD $27.23 billion in 2019. This is projected to reach USD $266.92 billion by 2027, exhibiting an exceptional compound annual growth rate (CAGR) of 33.2%. With this in mind, Predictmedix continues to make strides in the market having already seen impressive growth in the last month. Predictmedix’s cooperation with Flow represents yet another advancement for the Company.
Predictmedix’s share price opened at $0.425, up from a previous close of $0.39. The Company’s share price currently sits at $0.42 and is up 7.69% following the news.
Disclaimer: Predictmedix is a client of Equity Guru.
