Treatment.com AI Inc. (TRUE:CSE; TREIF:OTCMKTS; 939:FRA) and Scotland's University of Edinburgh signed an agreement to jointly build applications, backed by Treatment's proprietary Global Library of Medicine (GLM), as part of a multimillion-dollar university program to optimize long-term patient care, a news release noted.
The program, called SET4, or Systems Engineering to Transform Transitions In Health and Social Care, entails developing innovative, data-driven solutions to problematic transitions in health and social care for people living with multiple long-term medical conditions. The Usher Institute, part of the university's College of Medicine and Veterinary Medicine, is heading the effort.
While the goal of SET4 initially was to make changes to improve specific communities in Scotland, it now is to "deliver meaningful change with sufficient evidence to enable wider adoption across the United Kingdom National Health Service, other social care settings and beyond," noted the release.
Julie Jacko, the College of Medicine and Veterinary Medicine's dean of innovation and engagement, said, "Our partnership with Treatment.com AI will amplify the impact of our work, ensuring that health and well-being is improved for generations to come."
In other announced news, Treatment amended its marketing and investor relations agreement with LEIT Media Ltd. Treatment will pay LEIT €250,000 for the current marketing campaign targeting the German-speaking investor community.
Improving Healthcare
The mission of Treatment.com AI, headquartered in Vancouver, British Columbia, is to transform and improve healthcare by developing and providing software, that combines artificial intelligence (AI) and best clinical practices, to assist providers and eradicates inefficiencies.
The foundation of all of the company's products is its very own digital platform, the GLM, developed using in-house algorithms and the input of hundreds of healthcare professionals around the world. According to Treatment, it is "one of the most comprehensive and accurate repositories of curated diagnostic medical information currently in the world."
With its platform, in the healthcare sector, Treatment has significant growth potential, the company noted on its website.
"The opportunities available to expand the use of our GLM platform to help solve many of the challenges facing the broader medical industry are diverse and long term," Treatment said.
Currently, the healthcare tech firm has a handful of existing products and some in development.
For physicians and nurses, the "comprehensive, personalized healthcare AI engine" that is the GLM provides case-specific clinical assessments, information and recommendations, the company said. The GLM provides diagnoses, with a 92% plus accuracy, suggests physical and lab tests and x-rays when appropriate and even provides billing codes.
"The most important aspect underpinning future clinical decision support is the quality and trustworthiness of medical information," Dr. Essam Hamza, Treatment's chief executive officer and director, said on the company website.
The "comprehensive, personalized healthcare AI engine," how Treatment describes the GLM, results in improved patient outcomes, affords providers more time to spend with patients, lowers administration time and costs for healthcare professionals and systems, and helps mitigate fraud within healthcare systems.
"The GLM provides the highest level of qualified clinical and support to all health care professionals, ensuring enhanced diagnostic accuracy and transparency in every step of support provided," Technical Analyst Clive Maund wrote in a July report.
Treatment's next offering, also supported by the GLM, is for pharmacists, noted Streetwise Reports. Called AI Pharmacy Assistant, the software is slated for release later this year.
Treatment also focuses on the next generation of healthcare professionals with its software packages for medical and nursing school educators and for students. Based on the GLM, the Medical Education Suite helps strengthen students' practical clinical skills.
Market Having Growth Spurt
AI in healthcare, according to Fortune Business Insights, is used to analyze the medical data that helps medical providers make accurate diagnoses and accurate treatment to their patients. AI in healthcare assists physicians, nurses and other healthcare workers enhance their productivity.
The value of the global AI in healthcare market is projected to reach US$490.96 billion (US$490.96B) by 2032 from US$19.54B in 2023. This reflects a compound annual growth rate of 43.2%.
The platform segment is expected to lead the market during this period.
Drivers of current and future overall growth of the AI in healthcare market are many. Fortune points to private and government investments in the sector and advancements in medicine, research, innovation and technology,
According to Data Bridge Market Research, the adoption of AI and machine learning technologies and innovative product development are spurring overall growth.
Market and Markets attributes growth to "the generation of large and complex healthcare data sets, the pressing need to reduce healthcare costs, improving computing power and declining hardware costs, the rising number of partnerships and collaborations among different domains in the healthcare sector and the growing need for improvised healthcare services due to imbalance between healthcare workforce and patients."
In terms of geography, North America dominated the global AI market in healthcare industry last year with a 44.93% share, noted Fortune. This is in part because of its strong base of healthcare facilities, high adoption rate of minimally invasive procedures and high healthcare spending, according to Data Bridge. Other contributors are an expanding elderly population, rising investment in advanced devices and increasing research activities.
The Catalyst: Further Opportunities
The recent agreement is a catalyst for Treatment and the University of Edinburgh to work together on additional innovative and commercial projects and programs aimed at improving healthcare efficiency and delivery through AI, the release noted.
"We are delighted and proud to work with Edinburgh Innovations to discover new ways of improving the lives of people initially in Scotland and subsequently across the world," Dr. Kevin Peterson, Treatment's founder, chief medical officer and chairman, said in the release.
Analyst: Stock Remains a Buy
Technical Analyst Maund reiterated his Buy rating on Treatment.com in a July report. He purported the stock has "great growth potential" and indicated he would stay long on it.
At that time, he also highlighted the waste and efficiencies in healthcare, and the power of AI to change it.
"The potential for AI to improve the efficiency and quality of life for all involved is immense," he wrote.
Earlier this year, Maund emphasized how well positioned in the sector Treatment is.
"The growth potential of this industry is enormous," he wrote. "With Treatment.com AI having already developed its own platform, it is centrally placed to be a part of this."
Ownership and Share Structure
As for ownership of Treatment.com AI, two insiders hold 7.98%, or 3.85 million (3.85M) shares, according to Reuters. They are Dr. Kevin Peterson with 7.96% or 3.84M shares and Dr. Essam Hamza with 0.02% or 0.01M shares.
Retail investors own the remaining 92.02% as the company does not have any institutional investors.
Regarding share structure, Treatment has 48.29M outstanding shares and 44.44M free float traded shares.
It has a market cap of CA$28.51M. Over the past 52 weeks, the company traded between CA$0.19 and CA$1.11 per share.
| Want to be the first to know about interesting Life Sciences Tools & Diagnostics and Technology investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
