leadf
logo-loader
viewPredictmedix Inc.

Predictmedix announces tie-up with India's premier defence technology firm to target government and public sector market

Paras Defence & Space Technologies Ltd is already a registered vendor to almost all the government and public sector departments in India

Predictmedix Inc. -
Predictmedix's technology is focused broadly on four areas - impairment, infectious disease, mental health and remote patient monitoring/telehealth

Predictmedix Inc (CSE:PMED) (OTCQB:PMEDF) has announced a tie-up with India's premier defence technology company in a bid to launch the Artificial Intelligence-focused workplace health firm's technology in the government and public sector in South Asia. 

Paras Defence & Space Technologies Ltd (PARAS) is already a registered vendor to almost all the government and public sector departments in India. 

READ: Predictmedix partners for clinical research with group led by Dr Samira Rahimi, an assistant professor at McGill University

Predictmedix will work alongside the group to launch its infectious disease symptom and impairment screening technologies within these sectors.

"We are extremely excited to partner with Paras as not only are they the premier defence technology company in India but they also have an established presence in the government and the public sector," said Dr Rahul Kushwah, chief operating officer of Predictmedix, in a statement.

"We will be leveraging their expertise not only for fabrication but also to target this significant business opportunity."

Predictmedix's technology is focused broadly on four areas - impairment, infectious disease, mental health and remote patient monitoring/telehealth. The firm has said the market opportunity across this spectrum is enormous - up to an eye-watering US$300 billion.

It has developed an innovative platform using mass-screening and artificial intelligence (AI) to collect data, which can identify if someone is under the influence of cannabis or alcohol impairment.

Amid the current COVID-19 crisis, the firm is also expanding its proprietary AI technology to screen for infectious disease symptoms.

“We are looking forward to working with Predictmedix to capitalize on this market opportunity," added Anish Mehta, director at Paras on the partnership.

Paras manufactures defence electronics and space application products. It offers defence automation and control, rugged displays, computing, sensors, missile motors, rockets, telescopes, guns, and ammunition, special-purpose machinery.

Shares added 4.65% in Toronto to stand at C$0.45 each.

---Updates for share price---

Contact the author at [email protected]

Quick facts: Predictmedix Inc.

Price: 0.34 CAD

CSE:PMED
Market: CSE
Market Cap: $34.2 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Predictmedix Inc. named herein, including the promotion by the Company of Predictmedix Inc. in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Predictmedix starts to ship infectious disease screening units in Canada and...

Predictmedix (CSE: PMED- OTCQB: PMEDF) CEO Dr. Rahul Kushwah joined Steve Darling from Proactive Vancouver with news the company’s fabrication of their infectious disease screening units is going well and they have started to ship them in India and Canada. Kushwah also talked more about how...

4 days, 3 hours ago

2 min read