Southern California Clinic Signs Multi-Year Deal for MedMatrix AI Platform

VANCOUVER, British Columbia, April 16, 2024 (GLOBE NEWSWIRE) -- MedBright AI Investments Inc. (the “Company” or “MedBright”) (CSE:MBAI, OTCQB:MBAIF, FSE:Y30) today announced that Dermatology Institute & Skin Care Center (DISCC) has signed a 3 year contract to use the MedMatrix AI Platform, including all 5 product modules in their single clinic in Santa Monica, California.

There are over 50,000 outpatient clinics in the US alone, and the Company is now focused on launching its US sales and marketing plan to deploy the MedMatrix product suite to this market.

DISCC has been using the MedMatrix platform for several weeks to assess the potential demand in targeted geographic markets with data such as patient demographics, competition, facility costs, payor mix, and several other key factors. With this multi-year contract, DISCC will expand the use of the MedMatrix platform for use in clinical operations optimization and revenue enhancement opportunities.

Pursuant to the agreement with DISCC, the Company will offer use of the MedMatrix AI Platform to DISCC for minimum fees of an average of $200 a month for one clinic during the term of the agreement.

“Our experience during the beta trial with MedMatrix has been fantastic,” said Paul Yamauchi, MD, PhD. “This is a platform that has already demonstrated great value for DISCC, and we expect that it will continue to do so as we expand our operations.”

DISCC’s contract for 36 months includes the MedMatrix Reporter and Forecaster, MedMatrix Resource Matcher, as well as AI Revenue Enhancer, AI Claims Optimizer and AI Market Expander.

“Converting beta customers like DISCC into long term revenue generating contracts is a significant validation for the MedMatrix platform,” said Trevor Vieweg, CEO of MedBright. “We are focused now on converting the remaining beta customers and adding new potential customers to our newly commercialized product.”

Resignation of Director

MedBright also announces that Alnoor Nathoo has resigned as a director of the Company. The Company would like to thank Mr. Nathoo for his contributions and wishes him well in his future endeavors.

About MedBright AI Investments Inc.

MedBright AI is a capital allocator focused on investing in healthcare technology companies. The team at MedBright prides themselves on unparalleled access to opportunities, as well as structuring unique and advantageous investments. MedBright's mission is to construct a portfolio of synergistic investments to generate superior returns for shareholders while maintaining commitment to governance.