Health Gauge announces new investment and selling majority interest to AI/ML Innovations Inc.
Edmonton, AB. – January 26, 2021, Salu Design Group (o/a Health Gauge) has completed a transaction with and selling a majority interest to AI/ML Innovations Inc.
AI/ML Innovations Inc. (AIML) announced earlier in January that it completed the previously announced acquisition of 70% ownership of Health Gauge operating in the digital health care space, as announced on August 19, 2020.
Further, AIML has been advised by The Canadian Securities Exchange (CSE) that its shares started trading under its current symbol “AIML” on January 8, 2021. A current listing statement has been filed on SEDAR and on the CSE website for those wishing to seek more information.
AI/ML Innovations Inc. has acquired a 70% equity interest in Health Gauge, a private arms-length company. AIML has the exclusive option to acquire the remaining 30% of the common shares from Health Gauge shareholders for a period of 36 months from December 15, 2020 based on achieving defined performance objectives.
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.
Health Gauge is currently working to develop strategic partnerships with leading channel partners, health benefits providers, and end-users. Its products have completed beta testing in 2020 are expected to be commercially available and implemented during the first quarter of 2021.
In conjunction with closing of the Acquisition, the founders of Health Gauge, Randy Duguay and Bruce Matichuk have been appointed to the board of directors of AI/ML Innovations Inc. and have taken on the rolls of President and CEO and Chief Technical Officer, respectively.
Randy Duguay has a B.Sc. (Electrical / Computer Engineering), an M.Eng. (Management), and completed executive development programs at U of T (Rotman Business School). Randy served in senior management with TELUS Health Solutions, Canada’s most significant digital health services company. There, Randy played a lead role on several multi-million dollar commercialized service initiatives, ventures reviews and product development.
Bruce Matichuk has a M.Sc. (Computer Science) and over 25 years of experience in managing innovative teams and deploying cutting edge software technology. Bruce has extensive background in machine learning, artificial intelligence, and software engineering. Bruce served as CTO of a number of AI Tech companies that worked on significant products for fortune 500 companies and have achieved product success.
About AI/ML Innovations Inc.
AIML is a publicly listed company focused on the role of technology in better health and wellness. Its primary product is wearable technology and associated AI software that provides superior data recovery and analytics to assist users and their health care providers make healthy decisions based on the best possible information.
For further information regarding Health Gauge, contact Sarah Harper, at: (780) 293–5177 or firstname.lastname@example.org.
For further information regarding AI/ML Innovations Inc. contact Blake Fallis at: (250) 384-1999 or email@example.com
Cautionary and Forward-Looking Statements
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.