TORONTO, ON / ACCESSWIRE / June 13, 2022 / RYAH GROUP Inc. (CSE:RYAH) is pleased to announce important and substantial progress following the first two months tenure of Dr. Dave Richards, CEO. He summarizes the progress, as follows:
"As a cofounder of the MIT Innovation Lab, I have been exposed to many of the most innovative ideas and enterprises ever conceived of. When I was approached by the lead investors in RYAH, asking me to become the new CEO, I wanted to understand the business model, the WHY, the WOW factor, but also what had gone wrong. Most enterprises fail to deliver their potential, due to one or more of the seven sins of innovation - the title of my book. Looking at RYAH through this critical lens, I could see various issues that needed to be corrected. Although I hadn't been looking for employment, I also clearly saw how my experience and skills as a strategic innovation leader could help RYAH achieve its massive potential.
"I empowered and strengthened the leadership team. I encouraged creative conflict and debate, leading to greater clarity on direction. I engaged the team in developing a new sense of purpose, and in developing a strategic plan to drive success and value. I cut unnecessary costs, improved communications and focus on priorities, and operational effectiveness. I have a great team around me, contributing to this journey - François Desrosiers, CFO; Jordan Medley, VP of Global Products; Sophie Kleshchuk, AVP of Global Operations; Jules Gagnon, AVP of Investor Relations; a reinvigorated and enlarged sales and business development team; and a great technology development team, supported by excellent research and idea generation. The bottom line is that the business needed some course changes, and we're now on track to generate near-term revenues, profits, and returns on the investments that have been made based on faith in our mission - to empower decision-making, insights and innovations for a healthier future through our ecosystem of connected devices, applications, and Big Data."
About RYAH Group Inc.
RYAH is a big data and technology company enabling valuable AI-powered predictive analytics of the efficacy of plant-based medicines and other nutraceuticals administered through its range of innovative IoT-connected medical devices including inhalers, patches, and pens. RYAH's robust big data platform, the only one of its kind in this space, aggregates and analyzes HIPAA-compliant patient data, helping doctors and patients personalize treatments, control dosages, and better predict and monitor outcomes. Beyond specific medical uses, RYAH supports the use of a variety of nutraceuticals by users for wellness purposes, including personal enjoyment - i.e., recreational use. The collection and analyses of objective and subjective usage data, along with data derived through natural language processing of various scientific and other relevant literatures, will enable highly valuable insights for a wide variety of stakeholders, starting with the users themselves, and extending to clinicians, medical scientists, insurance providers, dispensaries, licensed growers, producers, pharmaceutical producers, and more. Through the above, a relentless focus on innovation, and track record of developing win-win collaborative partnerships within relevant industries, RYAH is continuously building a unique and highly valuable IP portfolio and big data assets ready to be monetized.
AI: Artificial Intelligence
IoT: Internet of Things
HIPAA: Health Insurance Portability and Accountability Act
IP: Intellectual Property
R&D: Research and Development
NFT: Non-Fungible Token
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
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SOURCE: RYAH Medtech Inc.