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Strategic Expansion into Cardio AI-Driven Healthcare Solutions
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Collaboration to Enhance Patient-Centered Digital Healthcare Technologies
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Welcomes Key Industry Experts to Drive Innovation
VICTORIA, BC / ACCESSWIRE / December 24, 2024 / AI/ML Innovations Inc. (the "Company" or "AI/ML") (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) is pleased to announce that it has closed the arms-length share purchase previously announced on December 10, 2024 ("Acquisition") and acquired all of the issued and outstanding shares of Quantum Sciences Ltd. ("Quantum").
Quantum specializes in developing innovative digital healthcare solutions powered by artificial intelligence ("AI"), machine learning, and quantum-inspired methodologies. The company focuses on technologies addressing critical healthcare challenges, including cardiovascular disease, neurodegenerative disorders, and metabolic conditions. The Acquisition provides synergies and opportunities to leverage Quantum's experienced medical team and AI/ML's unique signal processing capabilities to explore and evaluate various cardio-focused applications.
The principals of Quantum have spent the last 2 years designing a software product that will enable patients to have more control over their health trajectory by addressing and removing current impediments and inefficiencies in the existing medical domain that come from a absence of a centralized patient information system.
According to Mark Orsmond, Quantum's CEO "On almost a weekly basis we are hearing and seeing how AI is transforming and redefining the medical landscape. To date, our team has been highly impressed with AI/ML's proprietary technology and its potential applications. In my view, this Acquisition brings together all the key pieces necessary for a highly productive commercialization environment including valuable access to a unique technology, experienced and skilled human resources, real-time/real-world data and invaluable physician led input. We are delighted to be working with Paul Duffy and his team as we move forward together".
Quantum team members that will be working with AI/ML include:
Dr. Alan Rabinowitz, Quantum's Clinical Strategist and Advisor, was formerly Director of the Coronary Care Unit at St Paul's Hospital and is currently a cardiologist and Clinical Associate Professor in the Division of Cardiology at St Paul's Hospital. Alan has held numerous advisory roles to both public and private healthcare entities globally and has also been at the forefront of various entrepreneurial initiatives with a specific focus on disruptive innovation and data innovation in healthcare and the life sciences. Alan received his medical degree from the University of Cape Town, South Africa, completed his internal medicine and cardiology training at the University of Toronto and undertook subsequent training in interventional cardiology at St. Paul's Hospital, University of British Columbia ("UBC") in Vancouver, Canada.
Dr. Marc W. Deyell, Quantum's Product Development Advisor - Research & Innovation, is the Director of the Heart Rhythm Program at St. Paul's Hospital in Vancouver, Canada having joined the Heart Rhythm team at St. Paul's and Vancouver General Hospitals of the UBC Division of Cardiology in 2012. He is also an Associate Professor of Medicine at UBC and an active researcher. His clinical and research interests center around the epidemiology, health outcomes and ablation of arrhythmias, with a focus in ambulatory heart rhythm monitoring and ventricular arrhythmias. He received his medical degree from the University of Alberta. He completed a Masters of Epidemiology at the University of Calgary and his cardiology and electrophysiology training at the University of British Columbia, and undertook an advanced fellowship in Electrophysiology, focused on complex ablation, at the University of Pennsylvania.
Dr. Brett Heilbron, Quantum's Product Development Advisor, has been based at St. Paul's Hospital since 1997, where he has a clinical practice and works in the Cardiac Catheterization Laboratory. He is the Medical Director of the Electrodiagnostics program at St. Paul's, and Mount St. Joseph's Hospitals, and a Clinical Associate Professor at the University of British Columbia. He is also the Cardiology Consultant for Lifelabs British Columbia. Brett completed his undergraduate degree at the University of Cape Town (South Africa), and then practiced as a rural family physician in Newfoundland and Manitoba for 4 years. He completed Internal Medicine and Cardiology training at UBC in 1995. He has Level 3 Certification in Cardiac Computed Tomography and is a Diplomate of the Certification Board in Cardiac Computed Tomography and a Fellow of the Society of Cardiovascular Computed Tomography.
Paul Duffy, Chief Executive Officer of the AI/ML, comments: "The close of the Acquisition of Quantum provides an exciting next step for the Company as we advance our objective of becoming a leader in delivering personalized medicine solutions. I am furthermore very happy to be working with Mark Orsmond, Quantum's founder, who has a proven track record and achieved considerable success in developing three separate health care businesses that were sold to Well Health Technologies Corp. (TSX:WELL). We welcome his business experience and the deep innovation and knowledge of the Quantum medical advisory team as we move forward together to advance proactive, data-driven technologies and solutions that we expect will create improved health outcomes for patients and more efficient workflows."
The Company satisfied the Acquisition purchase price of $750,000 by the issue of 10,000,000 common shares of the Company ("Shares") at a deemed price of $0.075 per Share. The Shares issued are subject to a trading restriction of the longer of 4 months and a day, and that date which is 10 trading days after the filing of the Company's quarterly financials due on April 1, 2025, as well as voluntary escrow conditions that allows for 4,000,000 Shares to be released from escrow on the termination of the above noted hold period, with 750,000 Shares released each month thereafter for a 8 month period.
The Company notes that neither it nor Quantum Science are involved in the development or exploitation of quantum technology or quantum computers.
On behalf of the Board of Directors
Tim Daniels, Chairman
About AI/ML Innovations Inc. https://aiml-innovations.com/
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 Inc. (95.2% owned by AIML), Tech2Heal (up to 22% ownership rights, with 12.44% currently owned by AIML), AI Rx Inc. (70% owned by AIML), NeuralCloud Solutions Inc. (100% owned by AIML), 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".
For more information about AI/ML Innovations:
For detailed information please see AI/ML's website or the Company's filed documents at www.sedarplus.ca
For further information, contact: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com
The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" within the meaning of the securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will be issued as a result of a pending patent application or, if issued, whether it will be issued in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time at sedarplus.ca. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third-party websites.
SOURCE: AI/ML Innovations, Inc.
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