Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Paras TechCare, a Division of Paras Defence, to Manufacture and Resell Safe Entry Stations into Indian Private and Public Sectors on Behalf of Predictmedix
Paras Secured Two Initial High-Visibility Placements at Tier-1 Events in India; Serving as Launching Point for Near-Term Commercial Awareness in the Country
TORONTO, ON / ACCESSWIRE / August 30, 2021 / Predictmedix Inc. (CSE:PMED)(OTCQB: PMEDF) (“Predictmedix” or the “Company”), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI), today announced a strategic partnership with Paras TechCare, a division of Paras Defence & Space Technologies Ltd (“Paras”), under which Paras will manufacture, market, sell and distribute Predictmedix’s proprietary Safe Entry Stations in a turnkey manner for deployment in the public sector throughout
Paras is one of the largest providers of defense related technologies to the Indian government and has clientele extending into other Asian and Middle Eastern countries. The Company is an approved registered vendor to almost all government and public sector departments throughout India. The Company’s Paras TechCare division leverages Paras’ experience in manufacturing, as well as emerging technologies such as Predictmedix’s Safe Entry Station, to combat the spread of COVID-19.
Under the terms of the new reseller agreement, Paras TechCare will manufacture and sell Safe Entry Stations within the Southern Asian market on behalf of Predictmedix, where Paras maintains significant public sector relationships through its defense contractor business lines.
“Predictmedix has been an ideal partner, offering incredible rapid health screening solutions that are becoming increasingly prominent within the Indian market,” said Anish Mehta, Director at Paras Defence. “With screening applications from COVID-19 to impairment by drugs or alcohol, we see significant potential for this technology within the Indian public sector. I look forward to working closely with the Predictmedix team as we roll their technology out throughout Southern Asia.”
“We have been incredibly impressed with the capabilities and reach of the team at Paras, and are ready to enter a new phase of our strategic partnership,” said Dr. Rahul Kushwah, Chief Operating Officer of Predictmedix. “Allowing Paras TechCare to fabricate our platform in India will utilize their engineering expertise to help decrease production time, control costs and increase efficiencies. We are eager to leverage their established relationships in the government, targeting key public sector opportunities where our safety solution can add the most value.
“In fact, through our relationship with Paras and the efforts of Mr. Guru Bakshish Singh Sehgal, Managing Director of Predictmedix (India), we already secured the placement of Safe Entry Stations for attendee screening at the widely followed 2021 Most Influential Personalities event – hosted by The Times of India and attended by celebrities, politicians and business leaders – as well as at the Forevermark Forum in late August, a leading diamond industry event in India hosted by the De Beers group of companies, where 80,000 diamonds are expected to be transacted over 3 days. We expect these to serve as a launching point for expanded near-term commercial awareness in the Indian market. I look forward to a long and successful partnership with Paras, with the ultimate goal of creating value for our shareholders,” concluded Kushwah.
About Paras Defence & Space Technologies Ltd.
Paras Defence and Space Technologies Limited manufactures defense electronics and space application products. The Company offers defense automation and control, rugged displays, computing, sensors, missile motors, rockets, telescopes, guns and ammunition as well as special purpose machineries. For more information, please visit our website at www.parasdefence.com.
About Predictmedix Inc.
Predictmedix (CSE:PMED)(OTCQB: PMEDF) is a leading provider of rapid health screening and remote patient care solutions globally. The Company’s Safe Entry Stations – powered by a proprietary artificial intelligence (AI) – use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, or various mental illnesses. Predictmedix’s proprietary remote patient care platform empowers medical professionals with a suite of AI-powered tools to improve patient health outcomes. To learn more, please visit our website at www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.
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 required by law.
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.”
View source version on accesswire.com:
Friends, this isn’t the time to be complacent. If you are ready to fight for the soul of this nation, you can start by donating to elect Joe Biden and Kamala Harris by clicking the button below.
Thank you so much for supporting Joe Biden’s Presidential campaign.