Strategic Alliance with Global Care Innovations and BitLab to Drive Advanced AI and Quantum Security Solutions for Healthcare Across North America
Rhea-AI Summary
Scope Technologies (SCPCF) has signed a Letter of Intent for a strategic partnership with Global Care Innovations (GCI) and BitLab to deliver quantum-secure data solutions and AI-powered tools to healthcare providers across North America. Under the LOI, GCI will license Scope's QSE suite of quantum-resistant encryption and decentralized storage solutions for HIPAA-compliant data management. BitLab will serve as the primary development partner, utilizing Scope's visual recognition and neural network technologies to create customized AI applications for healthcare providers, focusing on improving diagnostics, streamlining patient care, and enhancing health outcomes.
Positive
- Strategic partnership to expand market presence in healthcare sector
- Licensing agreement for QSE suite with GCI
- Development of AI applications for healthcare through BitLab partnership
- Integration of quantum-secure data solutions in healthcare sector
Negative
- Transaction subject to definitive agreement - deal not yet finalized
- No financial terms or revenue projections disclosed
News Market Reaction
On the day this news was published, SCPCF gained 2.87%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Collaboration to Drive Innovation in Healthcare with Secure AI Applications and Quantum-Resistant Data Solutions
Under the proposed terms of the LOI, GCI will license Scope's QSE suite of quantum-resistant encryption and decentralized storage solutions, providing HIPAA-compliant, secure data management for healthcare organizations. Additionally, BitLab, a
"This partnership with GCI and BitLab marks a significant step forward in our mission to secure sensitive health information against both current and future cyber threats," said James Young, CEO of Scope Technologies Corp. "Our collaboration combines robust quantum security with innovative AI solutions, empowering healthcare providers to protect patient data while improving diagnostics and treatment options through advanced AI."
The collaboration's AI focus will enable healthcare providers to leverage Scope's visual recognition and annotation technology in multiple applications, developed by BitLab to improve diagnostics, streamline patient care, and enhance health outcomes. From AI-powered diagnostic tools to personalized treatment recommendations, Scope's technology offers a scalable foundation for various healthcare innovations, all underpinned by quantum-secure data storage to ensure patient data remains protected.
On the quantum security side, GCI will integrate Scope's QSE platform to offer both quantum-resistant data backups and individual patient data vaults, designed to meet or exceed regulatory standards for data protection.
GCI CEO Dr. Ragui Ibrahim shared, "Scope's technology aligns perfectly with our vision of transforming healthcare through AI-driven solutions and secure data management. This partnership enables us to expand our offerings to healthcare providers, ensuring that data is safeguarded both today and as we move into a quantum-powered future."
BitLab CEO Shoukri Kattan added, "We're excited to be part of this transformative partnership. Our focus at BitLab is on delivering scalable, innovative solutions in AI and MedTech. By integrating Scope's advanced AI and quantum security capabilities, we're setting new benchmarks for healthcare technology and improving the quality of care across the sector."
The transaction is subject to the parties entering into a definitive agreement.
About Global Care Innovations Inc.
Global Care Innovations (GCI) is a healthcare technology leader focused on advancing patient care through AI-powered solutions. Headquartered in
https://www.globalcareinnovations.com/
About BitLab
BitLab is a
Additionally, Scope announces that, further to its news releases dated September 13, 2024 and September 20, 2024, it has made additional payments to Creative Direct Marketing Group Inc. ("CDMG") for investor relations and marketing services to raise public awareness of the Company and increase brand awareness of the QSE platform. As set out in Scope's previous news release, CDMG will provide investor relations, market awareness and brand growth services through the creation and distribution of marketing materials (including print, digital and video). Scope made initial payments of US
CDMG is based in
Scope has also engaged the market awareness and brand growth services through the creation and distribution of digital marketing materials of Plutus Invest & Consulting GmbH (28199
Plutus is based in
About Scope Technologies Corp.
Scope Technologies Corp., headquartered in
LinkedIn: scope-technologies-corp
Facebook: Scope Technologies Corp
Twitter: @ScopeTechCorp
Contact Information:
James Young
CEO, Scope Technologies Corp.
Email: james@scopetech.ai
Phone: +1 604-416-1720
Website: www.scopetechnologies.io
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets, and more specifically, the use of proceeds of the Offering. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks and are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, those risks and assumptions described in the Company's prospectus dated August 10, 2022, a copy of which is available under the Company's profile on SEDAR at www.sedar.com. While Scope considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions, continued satisfaction of Canadian Securities Exchange requirements, product safety and recalls, regulatory compliance and risks associated with the Company's business. For more information on the risks, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the risk factors set out in the Company's prospectus dated August 10, 2022, a copy of which is available under the Company's profile on SEDAR at www.sedar.com. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.
The Canadian Securities Exchange has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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SOURCE Scope Technologies Corp.
FAQ
What is the purpose of Scope Technologies' (SCPCF) partnership with GCI and BitLab?
What technologies will SCPCF provide through this healthcare partnership?
How will BitLab utilize SCPCF's technology in the healthcare sector?
What role will Global Care Innovations play in the SCPCF partnership?
