TORONTO, ON / ACCESSWIRE / September 7, 2021 / AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB), a company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce that its majority-owned subsidiary, Health Gauge ("HG"), has entered a strategic partnership with AI-on-Call to deliver a digital remote patient monitoring solution for the early prediction, diagnosis, and prevention of sepsis and acute illness in seniors (whether in Assisted Living, Nursing Homes, Hospital, or Home settings).
HG's smartwatch solution and AI-driven cloud platform combine with AI-on-Call's novel protocols and algorithms to improve the timely capture of requisite health data, support the rapid identification and prioritization of at-risk patients for sepsis and acute illness, and ultimately facilitate improved outcomes through the quicker engagement of care team professionals.
Three seniors' facilities located in British Columbia have been identified as the initial deployment target for the joint solution, while the near-term market opportunity is focused on British Columbia, Alberta and Ontario seniors' facilities. There are over 60 million seniors in North America who could benefit from this service, including 6 million in Canada alone
"The World Health Organization states that sepsis affects more than 30 million people globally, and kills 6 million people every year" said Tim Daniels, Chairman of AIML. "A powerful tool such as that offered by the combined offering by Health Gauge and AI-on-Call can improve the outcome of patients with sepsis while simultaneously helping to reduce overall healthcare costs."
HG's "Health Gauge App" will provide the front-facing end-user interaction, and data capture technology (heart rate, blood pressure, respiratory rate, temperature, and oxygen saturation) integral to the success of the AI-on-Call solution. Additionally, data from AI-on-Call services are to be stored in HG's data store systems, currently being managed by MedStack services, and within an Azure-based platform.
It is anticipated that HG's products and services, integral to the AI-on-Call solution, will be priced as follows:
- HG Phoenix Wearable (MSRP): $200
- HG BMI Weight Scale (MSRP): $100
- HG Thrive Monitoring Subscription: $5.00/month
- HG Value-add Reports: TBD
- AI-on-Call subscription revenue (provided via HG platform): 15% residual + 10% eComm/operations
The go-to-market user service price will be adjusted upon the completion of pilot and market testing.
AI-on-Call was developed by Dr Andrew Neitzel, an Anesthesiologist/Intensivist and Clinical Assistant Professor at UBC (Department of Medicine and Anesthesiology) and Dr Jonathan Burns, a hospitalist with Fraser Health Authority (Abbotsford Hospital). The novelty and robustness of the AI-on-Call approach is that the solution uses a software program that is not only able to identify early (sentinel) signs of acute illness, but also direct care based on the severity of illness. They have demonstrated that their software is able to identify acutely ill patients early and simply, and with an appropriate degree of sensitivity.
The AI-on-Call team has established that their "Early Detection and Treatment of Acute Illness with Novel Software" is able to identify illness earlier than the traditional clinical method, and once identified is able to more quickly initiate medical management (in the case of the study group of medical ward patients). Study provides further that: "there is clear evidence that early intervention in the acutely ill patient is important in mitigating physiologic derangement and injury"
About Health Gauge
Health Gauge's patent-pending solution is a personal health monitoring & management system, which combines the latest wearable health monitors with sophisticated artificial intelligence software tools and proprietary cloud computing software, to help caregivers, patients, and healthcare professionals access and utilize relevant data, resulting in better recovery outcomes and healthy living objectives through the ability to make immediate and better health choices. www.healthgauge.com
Health Gauge is not a medical device and is not intended to diagnose, treat, cure, or prevent any disease. The Service is not meant as a substitute for or alternative to information from health care practitioners. If you have, or suspect you have, a medical condition, consult your doctor before using the Service, starting an exercise program, or changing your diet.
About AI/ML Innovations Inc.
AI/ML Innovations Inc. has realigned its business operations to capitalize on the burgeoning fields of artificial intelligence (AI) and machine learning (ML), with an initial investment focus on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing and digital platforms to drive transformative healthcare management solutions and precision support delivery across the health continuum. Through strategic partnerships with Health Gauge (70% owned by AIML), Tech2Health and other planned accretive investments, the Company continues to capitalize on expanding growth areas, to the benefit of all the Company's stakeholders. AI/ML's shares are traded on the Canadian Securities Exchange under the symbol "AIML", the OTCQB Venture Market under "AIMLF", and the Frankfurt Stock Exchange under "42FB".
On behalf of the Board of Directors
Tim Daniels, Executive Chairman
For more information about AI/ML Innovations:
For further information: Blake Fallis at (778) 405-0882 or [email protected].
Investor slidedeck: https://aiml-innovations.com/wp-content/uploads/2021/01/AIML-mini-1-21.pdf
Corporate video: https://www.youtube.com/watch?v=k2QSjo7clXc&feature=youtu.be
Official YouTube Channel: https://www.youtube.com/channel/UCCfOj2P_Fu3TOK6Jl1G9vEQ
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Cautionary and Forward-Looking Statements
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including but not limited to, the uncertainty of competition by other industry players, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the ability to raise additional capital as may be needed in the future. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
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SOURCE: AI/ML Innovations Inc.