Predictmedix and Paras Defence & Space Technologies Are Joining Forces to Launch Predictmedix’s Proprietary Technologies in the Government and Public Sectors
TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) ("Predictmedix" or the "Company") is pleased to announce that the company is partnering with Paras Defence & Space Technologies Ltd. ("Paras"), which is India's most progressive Tier 2 Defence Engineering Company to target the government and the public sector market in South Asia.
Paras defence is one of the largest providers of defence related technologies to the Indian government and has clientele extending into other Asian countries along with the Middle East.
Together, Paras and Predictmedix have identified significant business opportunities in the government and the public sector in India. Predictmedix will be working with Paras to launch its infectious disease symptom screening technology along with impairment screening technology 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. We will be leveraging their expertise not only for fabrication but also to target this significant business opportunity", said Dr. Rahul Kushwah, COO of Predictmedix Inc.
“We are looking forward to working with Predictmedix to capitalize on this market opportunity. Paras is already a registered vendor to almost all the Government & Public Sector departments in India”, commented Anish Mehta, Director at Paras on the partnership.
For more details on this release please click on the following video interview:
About Paras Defence & Space Technologies Ltd.
Paras Defence and Space Technologies Limited manufactures defence electronics and space application products. The Company offers defence automation and control, rugged displays, computing, sensors, missile motors, rockets, telescopes, guns, and ammunition, special purpose machineries.
For more information visit: www.parasdefence.com
About Predictmedix Inc.
Predictmedix Inc. is an artificial intelligence ("AI") company developing disruptive tools for impairment testing and healthcare. It is intended that the Company's cannabis and alcohol impairment detection tools will be used across various workplaces and by law enforcement agents. Its technology uses facial and voice recognition to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous different data points. Testing does not require any body fluids or human intervention, thereby helping to remove human error and the potential for discrimination and prejudice.
The Company is also developing AI based screening for the healthcare industry. The recent advent of COVID-19 pandemic has placed unprecedented stress on the global economy and highlights the need for tools to help screen mass populations for infectious diseases, with the hope of preventing pandemics in the future. In turn, Predictmedix Inc. is expanding its proprietary AI technology to screen for infectious disease symptoms.
Additionally, psychiatric disorders such as depression, dementia and Alzheimer's disease can carry a significant burden and early identification is the key to better management. To help address this, the Company is also expanding its proprietary AI technology to screen for psychiatric and/or brain disorders such as depression, dementia and Alzheimer's disease. To find out more visit us at www.predictmedix.com
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.”
For further information, please contact:
Dr. Rahul Kushwah, Chief Operating Officer
Tel: 647 889-6916
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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 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 as required by law.
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/058992fe-6541-4d61-b760-568b44ef7c0e