PALM BEACH, Fla., May 15, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Experts see substantial growth in the global AI Healthcare market over the next several years. A report from Statista said that: “The artificial intelligence (AI) in healthcare market was… forecast that (it) would be worth almost 188 billion U.S. dollars by 2030, increasing at a compound annual growth rate of 37 percent from 2022 to 2030.” And another report from MarketsAndMarkets also sees significant growth, saying:” The global AI in Healthcare market size was valued at USD 20.9 billion in 2024 and is estimated to reach USD 148.4 billion by 2029, registering a CAGR of 48.1% during the forecast period.” The Markets Report said: “The growth of AI in the healthcare market is driven by the generation of large and complex healthcare datasets, the pressing need to reduce healthcare costs, improving computing power and declining hardware costs, and the rising number of partnerships and collaborations among different domains in the healthcare sector, and growing need for improvised healthcare services due to imbalance between healthcare workforce and patients. The integration of non-procedural languages marks a transformative shift in the AI landscape of healthcare… Non-procedural languages enhance model explainability, streamline workflows, and focus on core clinical knowledge, promising significant segmental growth in areas like clinical decision support systems, medical imaging analysis, personalized medicine, and public health. Despite challenges, the potential benefits position non-procedural languages as a compelling avenue for advancing AI in healthcare, promising improved patient care and outcomes.” Active tech companies in the markets this week include Treatment AI, Inc. (OTCQB: TREIF) (CSE: TRUE), WELL Health Technologies Corp. (OTCQX: WHTCF) (TSX: WELL), HEALWELL AI INC. (OTCQX: HWAIF) (TSX: AIDX), NVIDIA Corporation (NASDAQ: NVDA), Veeva Systems (NYSE: VEEV).
MarketsAndMarkets continued: “Natural Language Processing (NLP) in healthcare enables computers to analyze, generate, and translate human language. It unlocks insights from unstructured data, streamlines tasks, empowers patients through chatbots, and enhances personalized medicine, revolutionizing healthcare delivery. Natural Language Processing (NLP) plays a pivotal role in revolutionizing patient data analysis and risk assessment within AI in healthcare. By converting unstructured text in medical records into structured data, NLP enables rapid and scalable analysis. It empowers clinicians to identify at-risk patients by detecting nuanced details often missed in structured data. Generating extensive and intricate healthcare datasets is a pivotal driver for AI in the healthcare Market. Advanced technologies enable the accumulation of diverse patient information, from medical records to genomic data. This abundance of data catalyzes AI applications, facilitating the identification of patterns and insights crucial for diagnostics, personalized medicine, and treatment planning. Integrating big data analytics and AI promises to revolutionize healthcare processes, enhancing accuracy and efficiency. In the coming years, the impact of this data-driven approach is expected to be high, ushering in a transformative era in healthcare delivery with improved patient outcomes and streamlined operations.”
Treatment AI (OTCQB: TREIF) (CSE: TRUE) and Novus Health Partnership Expands Access to its Global Library of Medicine (GLM) - Treatment.com AI Inc. (the “Company” or “Treatment”) is pleased to announce it has signed a Collaborative Agreement with Health Care Services International Inc (o/a Novus Health). (“Novus Health”) to explore utilization of Treatment’s proprietary Global Library of Medicine (“GLM”) to further enhance Novus Health’s Health Risk Assessment programs.
Treatment is partnering with Novus Health, an acknowledged leader in health navigation supporting over 1.5 million members and their families. Over the past 7 years and in collaboration with hundreds of global healthcare professionals, utilizing our proprietary algorithms, Treatment has built one of the world’s most intelligent, personalized healthcare AI engines, the Global Library of Medicine (GLM). Working with a number of leading North American Health Insurers, Novus Health has built a trusted navigation platform that simplifies health care experiences by bringing together everything an individual needs to successfully manage their care journey.
Treatment and Novus Health also intend to explore mutually beneficial opportunities through the partnership, this will include Health Risk Assessment and Medical Second Opinion.
The collaboration also allows Novus Health and Treatment to work closely on testing and development of further new mutual joint commercial applications and/or solutions. The intent of this collaboration is to promote the development, installation, testing, validation, and commercialization of one or more novel solutions that further the goals of both companies and proactively impact the health insurance market.
Dr. Essam Hamza, CEO of Treatment, comments: “We are very excited to partner with a recognized leading healthcare firm in Novus Health. There is a near term opportunity to implement our proprietary AI diagnostic tools into the solutions offered to their vast customer base. However, with this collaboration we also have an opportunity to extend into new mutually developed tools and solutions that have the ability to further improve health care efficiency and patient outcomes.”
Jamie Marcellus, CEO of Novus Health, comments: "We are excited about the potential for Treatment.com’s AI to augment our services. Their platform offers the possibility of unparalleled efficiency and accuracy in health risk assessments, drawing insights from vast data sets to detect patterns and predict potential risks. By leveraging these tools, our members can make better informed decisions swiftly, enhancing care and enabling proactive interventions to mitigate health threats effectively.” CONTINUED… Read this full press release and more news for Treatment.com AI at: https://treatment.com/press/
Other recent developments in the tech industry of note include:
WELL Health Technologies Corp. (OTCQX: WHTCF) (TSX: WELL), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, recently announced its interim consolidated financial results for the quarter ended March 31, 2024.
Hamed Shahbazi, Founder and CEO of WELL, commented, "The first quarter of 2024 exceeded all expectations, showcasing the robustness and efficacy of our technology-driven care delivery platforms. We're pleased to report that we have begun the year with an intense focus on enhanced profitability and capital efficiency and are proud to report a 10% year over year improvement in the all-important, 'free cashflow available to shareholders per share' metric to $0.05 and even more excited to report that we're guiding to a significant improvement in our free cashflow for the year to more than $55M, reflecting a 30% YoY increase while we reduce yearly share dilution by a significant percentage from 2023 to the lowest it has ever been. The combination of these objectives will significantly accelerate our free cashflow per share and deliver enhanced shareholder value. Additionally, it is important to note that these results are fueled by strong YoY organic growth of 13% which includes our unique clinic absorption model, which has been and is expected to continue to be a major driver of WELL's future growth. Our clinic transformation team are recognized as industry leaders. They leverage best-in-class technology to help us achieve impressive Net Promoter Scores (NPS) of over 80% in our clinics demonstrating the high satisfaction and loyalty among our patients and providers and reflecting WELL's operational excellence."
HEALWELL AI INC. (OTCQX: HWAIF) (TSX: AIDX) recently announced today that, due to strong demand, it has agreed with Clarus Securities Inc. (“Clarus”) and Eight Capital Corp. (“Eight”), as Co-Bookrunners and Co-Lead Underwriters (the “Co-Lead Underwriters”), on behalf of a syndicate of underwriters (collectively, the “Underwriters”), to increase the size of its previously announced C$16,000,065 “bought deal” offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a “bought deal” basis 12,592,600 units of the Company (the “Units”) at a price of C$1.35 per Unit (the “Offering Price”) for aggregate gross proceeds to the Company of C$17,000,010 (the “Offering”).
The Company has agreed to amend the terms of the agent’s option granted to the Underwriters in order to permit the Underwriters to purchase up to an additional 2,222,400 Units at the Offering Price. The option is exercisable in whole or in part, at any time on or prior to the date that is two (2) business days prior to the closing of the Offering. In the event the option is exercised in full, the aggregate gross proceeds of the Offering will be C$20,000,250. The Company intends to use the net proceeds of the Offering for growth initiatives and for general corporate and working capital purposes. The Offering is expected to close on or about May 24, 2024 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.
NVIDIA Corporation (NASDAQ: NVDA) recently announced that it will accelerate quantum computing efforts at national supercomputing centers around the world with the open-source NVIDIA CUDA-Q™ platform. Supercomputing sites in Germany, Japan and Poland will use the platform to power the quantum processing units (QPUs) inside their NVIDIA-accelerated high-performance computing systems.
QPUs are the brains of quantum computers that use the behavior of particles like electrons or photons to calculate differently than traditional processors, with the potential to make certain types of calculations faster. Germany’s Jülich Supercomputing Centre (JSC) at Forschungszentrum Jülich is installing a QPU built by IQM Quantum Computers as a complement to its JUPITER supercomputer, supercharged by the NVIDIA GH200 Grace Hopper™ Superchip.
Veeva Systems (NYSE: VEEV) recently announced that it will release financial results for its first quarter, which ended April 30, 2024, after market close on May 30, 2024. Veeva will host a conference call and webcast that day at 2:00 p.m. PT (5:00 p.m. ET) to discuss its financial results.
Veeva will post prepared remarks to its investor relations website at https://ir.veeva.com approximately at 1:05 p.m. PT (4:05 p.m. ET). A webcast replay will be available on the website following the live event.
Date: Thursday, May 30, 2024
Time: 2:00 p.m. PT (5:00 p.m. ET)
Conference Call Registration: https://registrations.events/direct/Q4I8741326
Webcast: ir.veeva.com
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