05:46:26 EDT Sat 04 May 2024
Enter Symbol
or Name
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Datametrex AI Ltd
Symbol DM
Shares Issued 410,275,201
Close 2023-07-05 C$ 0.07
Market Cap C$ 28,719,264
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Datametrex AI mulls spinout of medical assets

2023-07-06 10:21 ET - News Release

Mr. Marshall Gunter reports

DATAMETREX ANNOUNCES INTENTION TO SPIN-OUT HEALTHCARE DIVISION

Datametrex AI Ltd. is considering a possible spinout of its health care division with a distribution of shares to existing Datametrex shareholders.

This strategic move represents the company's vision to focus on its artificial-intelligence businesses. By divesting its health care division, Datametrex will focus on its core operations in AI, GPT and electric-vehicle technologies, enabling the company to drive innovation and excel in these cutting-edge fields.

Simultaneously, a new health-care-focused entity can direct its undivided attention toward delivering exceptional health care services, ensuring the highest standards of patient care and wellness. Management believes this strategic separation will empower both entities to maximize their respective potentials and achieve success in their specialized areas.

A spinout of medical assets will allow the company to sharpen its focus and pursue new opportunities while empowering its health care division to establish itself further in the health care space. The health care division includes Medi-Call Inc., Imagine Health Medical Clinics Ltd., Imagine Health Pharmacies & Research Ltd. and Imagine Health Physio Ltd. The company will issue further news releases updating the market on the proposed spinout transaction.

"The proposed spinout marks an exciting chapter for Datametrex as we position the company for continued growth and expansion. By separating our health care division and establishing an independent entity, we can better serve the needs of our customers and deliver enhanced value to our shareholders. We believe this strategic move will enable both entities to thrive and excel in their respective fields," said Marshall Gunter, chief executive officer of the company.

About Datametrex AI Ltd.

Datametrex AI is a technology-focused company with exposure to artificial intelligence, machine learning and telehealth, and it has recently entered the electric-vehicle market. Datametrex's mission is to provide tools and solutions that support companies in fulfilling their operational goals, including health and safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through artificial intelligence and health diagnostics, the company provides progressive solutions to support the supply chain.

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