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By Jeremy Golden, Benzinga

Artificial intelligence (AI) is on the cusp of transforming nearly every single industry. When it comes to healthcare, several trends have emerged.

As doctors and scientists continue to innovate, the market for AI in healthcare is expanding. The AI healthcare market appears poised for growth, with a market size of $22 billion in 2023 a number thats expected to accelerate at a CAGR of 36.4% from 2024-2030. The market for AI in healthcare is expected to reach $187.95 billion by 2030, demonstrating the transformative shift its brought to the healthcare industry.

AI-focused healthcare companies are driving this progress.

Here is how three healthcare companies are harnessing AIs capabilities, using technology to drive innovation, target treatments and increase access to healthcare.

Driving Innovation

The rapidly growing field of AI in healthcare is already coming to life at places like the Mayo Clinic, where several AI-powered medical and surgical improvements have validated new approaches to clinical care in cardiovascular medicine, neurology, oncology, radiology and other fields of medicine.

AI is replacing repetitive, manual processes such as patient data analysis that slow down healthcare professionals. Moving forward, this new technology will drive innovation, executives at Moderna (NASDAQ: MRNA) said after inking a partnership with OpenAI, the company behind ChatGPT, in April.

The move gave about 3,000 Moderna employees access to ChatGPT Enterprise, built on OpenAIs most advanced language model, GPT-4, the Wall Street Journal reports. Moderna anticipates the integration of AI could lead to the introduction of 15 new products by 2029, the Cambridge, Mass., company said.

Moderna CEO Stphane Bancel envisions employees using ChatGPT at least 20 times a day to reinvent all of Moderna's business processes, leading to greater overall efficiency. Heres one example.

When developing medicines, researchers study the biological and genetic variations that cause diseases to develop. Utilizing AI to dissect medical data sets like lab results can help scientists fill in the missing pieces. AI can assist them in figuring out the root cause of the disease, helping get much-needed treatments to patients faster.

AI can lift success rates to up to 50% while reducing a drugs time-to-market, a recent Moderna study by Harvard Universitys Digital Data Design Institute found.

AI is already transforming Moderna and enhancing its value-creation process. The companys position in AI-powered innovation is leading to more efficiency and scalability across the value chain due in large part to an AI-centric culture.

As of October 2023, nearly 65% of Moderna employees were active AI users. They have used the tool in multiple specific functions, from customized support to meaningful improvements in workflow efficiency and efficacy.

Moderna has plans to integrate AI into all aspects of the drug development life cycle. To that end, the company has launched the Moderna AI Academy to accelerate training on AI throughout the organization.

Targeted Treatments

In addition to advancing drug discovery, artificial intelligence is also helping treatments reach patients faster.

The past decade has seen an explosion in the amount of health data available to doctors. Organizing and analyzing this much data in a timely manner, however, can be a complex and time-consuming task for the human mind, no matter how capable or intelligent the person. Thats where AI comes in.

AI is enabling researchers to develop more targeted medicines, driving progress in the field of precision medicine. This trend was part of a presentation delivered by executives at Johnson & Johnson (NYSE: JNJ), who hosted a panel discussion about AIs role in transforming healthcare at this years South by Southwest conference. They touched on many topics, from AI applications in drug discovery to its ability to assist doctors during clinical trials.

When it comes to running clinical trials, one of the biggest challenges is quickly and efficiently recruiting and enrolling patients who meet the selection criteria.

By applying AI technology to the early stages of a clinical trial, Johnson & Johnson researchers can use large anonymized datasets to identify and locate clinical research sites with patients who could potentially benefit from the Johnson & Johnson medicines that are being studied.

From there, the clinical trial operations team can work to determine the likelihood of enrolling the newly identified sites into their trials.

Historically, many clinical trials have largely taken place at major academic medical centers, but we know that not all patients have access to these centers, said Nicole Turner, Senior Director of Global Development, Data Science & Digital Health and R&D at Janssen Pharmaceuticals. Our goal is to leverage the power of AI to bring trials to more patients, rather than waiting for patients to come to us.

According to The Wall Street Journal, Johnson & Johnson continues to make investments to the tune of hundreds of millions of dollars in AI and data science.

The company has hired about 6,000 data science and digital experts and opened a new research facility near San Francisco, and company executives say AI will power the companys drug discovery work and strengthen its pharmaceuticals business in the future.

Increasing Access

Across the country, there is a need for more accessible and systemic healthcare solutions. One company is responding by using AI to combat cardiovascular diseases globally while committing to health equity and access.

AI algorithms can effectively handle and analyze extensive medical data, including DNA biomarkers such as epigenetic and genetic information. As such, the shift to digital health and AI-driven diagnostics could also have widespread impacts on the cardiovascular detection, care and management industry, helping increase access to healthcare in a timely manner across the board especially helping underserved communities in the process.

Cardio Diagnostics (NASDAQ: CDIO), an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention and detection more precise, was formed to improve patient outcomes by developing and commercializing clinical tests that leverage AI-driven technology to combat cardiovascular disease.

The company is behind PrecisionCHDTM, the first integrated genetic-epigenetic test for the detection of coronary heart disease (CHD), the most common type of heart disease and the cause of most heart attacks. With the introduction of PrecisionCHD, clinicians are armed with a powerful, scalable and non-invasive alternative that comes in the form of a blood-based test that uses AI, along with personalized genetic and epigenetic information, to sensitively detect the presence of CHD and use the information for more personalized patient management.

Cardio Diagnostics has also developed Epi+Gen CHDTM, a powerful test that predicts the three-year risk for a CHD event, mainly a heart attack. Powered by AI-driven integrated genetics-epigenetics, the tool enables more effective decision-making and earlier interventions.

Traditional diagnostic methods for CHD, often inaccessible due to the need for specialized infrastructure, can be invasive and sometimes require exposure to ionizing radiation. Additionally, some of the tests are not sensitive to all forms of CHD and can be very costly, resulting in millions of Americans left without adequate and potentially lifesaving cardiac care. Thanks to AI, PrecisionCHD has armed clinicians with a powerful, scalable and non-invasive alternative that comes in the form of a blood-based test.

For rural communities where access to specialized medical facilities is limited, the implications of this advancement are particularly relevant. With only a simple blood draw needed to complete a test, PrecisionCHD offers patients in underserved areas access to state-of-the-art cardiac assessments.

PrecisionCHD can be administered in primary care or telemedicine settings, significantly reducing the need for patients to travel to distant specialized clinics. This level of availability, marking a step forward toward mitigating healthcare disparities, would not be possible without AI.

Featured photo by CDC on Unsplash.

Cardio Diagnostics is an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The Company was formed to further develop and commercialize clinical tests by leveraging a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic Engine (Core Technology) for cardiovascular disease to become one of the leading medical technology companies for improving prevention, detection, and treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com.

Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases will, "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," goal, or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Companys ability to compete, regulatory matters, protection of technology, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Current Report on Form 10-K for the period ended December 31, 2022 and Form 10-Q for the period ended March 31, 2023, under the heading Risk Factors in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.

This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.

Contact Details

Gene Mannheimer – Investor Relations

+1 855-226-9991

[email protected]

Company Website

https://cardiodiagnosticsinc.com/

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Cardio Diagnostics Holdings, Inc

COMTEX_451714604/2655/2024-05-01T08:30:21

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Consensus Health, a leading New Jersey-based healthcare organization with a physician-led medical group and an Independent Physician Alliance (IPA), announced today it was named winner of two Stevie Awards in The 22nd Annual American Business Awards.

Consensus Health earned both a silver Stevie Award in the Company of the Year – Health Products & Services Large category as well as a bronze for Achievement in Growth. Consensus Health was recognized for its growth, distinctive model and commitment to the delivery of quality healthcare across New Jersey. The care it brings to the New Jersey community, based on the clinical autonomy afforded its physicians, has elevated the Companys presence throughout New Jersey, as evidenced by its network of 166 physicians across 56 practices that span 69 locations statewide.

The American Business Awards are the U.S.A.s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations public and private, for-profit and non-profit, large and small.

Nicknamed the Stevies for the Greek word meaning crowned, the awards will be presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Tuesday, June 11. Tickets are now on sale.

More than 3,700 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories.

On behalf of the entire Consensus Health team, we thank the judges of the American Business Awards for recognizing the role our Company plays amid an ever-changing healthcare landscape. The niche model weve carved out in New Jersey emphasizes the independent physician and applauds clinical autonomy, which has allowed Consensus Health to achieve successes in the areas of improved patient outcomes and proven value-based care actions and outcomes. A sincere thank you goes out to our team statewide; they are on the front lines day in and day out truly impacting the quality care and service we bring patients. It is this dedication that reaped the successes which were honored in this prestigious awards program, explained Michael Lovett, Consensus Health chief executive officer.

When I became the first Consensus Health Medical Group physician in 2018, I never imagined where wed be today. Now, with nearly 200 physicians throughout New Jersey, we are truly impacting patient health through our ever-growing network of independent physicians spanning primary care and as well as many areas of specialty. Our unrelenting commitment to quality care is attributed to this prominent placement within the ABAs. Thank you to all who made these accolades possible, said Marc Feingold, MD, Consensus Health medical director.

Details about The American Business Awards and the list of 2024 Stevie winners are available at www.StevieAwards.com/ABA.

About the Stevie Awards

Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, the Stevie Awards for Sales & Customer Service, and the new Stevie Awards for Technology Excellence. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

About Consensus Health

Marlton, New Jersey-based Consensus Health is a leading physician-owned and -governed medical group comprised of New Jersey-based independent primary care providers and specialty doctors. Consensus Health affords its 166 member physicians across 56 practices and 69 locations clinical autonomy, which enables them to focus on the delivery of high levels of patient care within the local markets they each serve. Currently, Consensus Health provides medical care statewide throughout 18 New Jersey counties.

For more information, visit www.consensushealth.com or connect with the Company on LinkedIn.

Contact Details

PAIRELATIONS, LLC

Susan J. Turkell

+1 303-766-4343

[email protected]

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Consensus Health

COMTEX_451713814/2655/2024-05-01T08:06:20

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The Middle East, a region long known for its oil and gas riches, is transitioning to a new, more sustainable future, potentially dominated by electric vehicles.

The UAE, for instance, has launched several initiatives over the past years to encourage the adoption of EVs among its residents. Strategies like the Dubai Green Mobility Strategy 2030 aim to have around 42,000 electric cars on Dubais streets by the end of this decade. Currently, the UAE is ranked 7th globally and is the top country in the MENA region on the Global Electric Mobility Readiness Index (Gemrix), demonstrating the nations dedication to sustainable transportation and its goal of achieving carbon neutrality by 2050.

Like the UAE, the Saudi government has also taken significant steps to drive EV adoption, including funding infrastructure. Since 2021, the Saudi Electric Vehicle Charging Infrastructure Development Initiative (SEVCIDI) has been working towards a goal of installing 50,000 domestic charging stations by 2025.

According to analysts, EV adoption will gain major momentum in the Middle East thanks to growing tech-savvy urban hubs in Saudi Arabia and the UAE, in addition to a significant drop in the cost of EVs over the past years.

With EV sales looking set to continue ramping up, here are four stocks that seem well positioned to capitalize on the regions growth.

VivoPower International PLC (NASDAQ:VVPR) , a sustainable energy solutions (SES) company, is on a mission to make the cost of owning an EV much more affordable without compromising on any of the features. The companys flagship subsidiary, Tembo e-LV, supplies conversion kits containing all the parts needed to convert a vehicle from an internal combustion engine to electric. These parts include the batteries, an e-motor, a reduction box, a charger, software, and many other components that make the converted vehicle work safely and seamlessly.

In essence, the Tembo electric utility vehicle (EUV) conversion kits will transform new and second-hand diesel-powered 4×4 LandCruiser and Hilux vehicles into ruggedized EUVs that can operate in the harshest of terrains, like in mining and other industrial applications.

Tembos conversion kits have seen significant interest from not only the Middle East but also the African market, as illustrated by its recent securing of a commitment of 5000+ kits and an order pipeline of 10,000+ kits. Those included an MOU in Jordan for 1,000 kits, opening a path to the Middle East, which is the largest Landcruiser market, and a definitive agreement in Kenya for 4,000 kits, providing entry into second-hand vehicle segments, which expands the companys addressable market.

To put the opportunity in context, the Middle East and Africa EV markets were worth about $3.33 billion in 2024 and are expected to reach $9.42 billion by 2029, representing a CAGR of 23.20%, according to research from Mordor Intelligence. VVPR is well positioned to capitalize on this growth and has what could possibly be one of the best backers to help advance in the region. That is because earlier this month, Vivo received a direct investment of $10 million into Tembo at a pre-money valuation of $120 million, from a private investment office of a member of the ruling Al Maktoum family of Dubai.

At the moment, VVPR has a market cap of about $12.5 million, which implies that its valuation has significant upside potential even without taking into account its other subsidiaries, which it is divesting from.

Just this week, VivoPower International PLC (NASDAQ:VVPR) announced that it entered into a definitive asset sale agreement for the sale of one of its non-core business units, Kenshaw Electrical, to ARA Group Limited, a leading diversified industrial services group based in Australia, for a total of A$5 million. This follows another announcement that it would spin off the majority of its Caret business units portfolio, representing up to ten solar projects totaling 586 MW-DC at varying stages of development.

This is in line with VivoPowers previously announced strategy to focus on reinvesting in its strong growth businesses, including Tembo.

It is also important to note that Tembo will be going public via a merger with Nasdaq-listed SPAC Cactus Acquisition Corp. (CCTS). CCTS will issue 83.8 million shares in exchange for Tembo shares at $10 per CCTS share, which corresponds to a pre-money indicative equity valuation of Tembo of $838 million.

VivoPower shareholders will get 5 Tembo shares worth $10 each for every share held, in addition to a special dividend at $1 per share, translating to another $5 per VivoPower share held.

This deal has the potential to unlock significant shareholder value since even if the Tembo share price upon IPO is only $1, this implies a per share valuation for VVPR of $28, including the value of dividend shares.

VinFast Auto Ltd. (NASDAQ:VFS) marked a significant milestone in its global expansion strategy by entering into a dealer sales agreement with Bahwan Automobiles Trading LLC (BAT) for the distribution of electric vehicles (EVs) in Oman. This collaboration not only introduces VinFast's presence in the Middle East but also underscores the company's commitment to promoting green mobility solutions worldwide.

The deal follows an Initial Memorandum of Understanding for Cooperation signed at the COP 28 conference in the United Arab Emirates (UAE) in 2023. It makes BAT the official dealer of VinFast in Oman. Under the agreement, BAT is to establish 13 VinFast stores and service locations over the next three years.

The first store is expected to launch in mid-2024, with vehicle sales commencing shortly after. VinFast will also collaborate with BAT to introduce four e-SUV models in the Omani market: VF 6, VF 7, VF 8, and VF 9.

Mr. Ta Xuan Hien, CEO of VinFast Middle East, said: "Oman presents a promising market for electric vehicles, as consumers in the nation demonstrate a growing interest in sustainable and environmentally friendly transportation solutions. We are confident that this dealer sales agreement with BAT, a leading and highly reputable dealer in Oman, will empower VinFast to swiftly establish a presence in the market and provide customers in the country with the most diverse and high-quality selection of electric vehicles available."

NWTN (NASDAQ:NWTN) is a Dubai-based pioneering green energy company dedicated to providing passenger-focused, premium electric vehicle products and green energy solutions to customers worldwide. The company has a full vehicle assembly facility in Abu Dhabi.

In January this year, NWTNs strategic partner, W Motors, a leading manufacturer of high-performance luxury cars in the Middle East, signed a partnership agreement with Manaseer Group.

Through this agreement, Manaseer Group will be the exclusive distributor for W Motors and NWTN vehicles in Jordan and the Middle East and Africa region. It will use its facilities as a factory for assembly and thereafter manufacturing operations for these new car brands, which is made possible by Manaseers strong presence and expertise of the Jordan market, and its commitment to providing environment-friendly solutions that combine innovation and luxury.

The agreement was reached following Manaseer Group's recent participation in the Higher and Executive Committees for Integrated Industrial Partnership meeting that took place in Bahrain. Manaseer Groups Vice Chairman Eng Abdel Rhman Obaid said: "We are proud to have represented Jordan in the Higher and Executive Committees for Integrated Industrial Partnership meeting and to contribute to the industry's development in Jordan and the region, as we believe in our role in the industrial sector empowerment.

Lucid Group, Inc. (NASDAQ:LCID) officially opened the first-ever car manufacturing facility in Saudi Arabia last year, making it its second Advanced Manufacturing Plant (AMP-2) and first international plant. The facility will produce Lucid's groundbreaking electric vehicles for Saudi Arabia and export them to other markets.

The AMP-2 facility received significant support from the Ministry of Investment of Saudi Arabia (MISA), the Saudi Industrial Development Fund (SIDF), and the Economic City at King Abdullah Economic City (KAEC) and is expected to play a pivotal role in accelerating Saudi Arabia's strategic goal to diversify its economy.

The AMP-2 facility has begun semi knocked-down (SKD) assembly and is expected to have an annual capacity of 5,000 cars. The initial operation re-assembles Lucid Air vehicle 'kits' that are pre-manufactured at the company's U.S. AMP-1 Manufacturing Facility in Casa Grande, Arizona. Lucid aims to transition AMP-2 to complete build unit (CBU) production after the middle of the decade, with an additional annual capacity of 150,000 cars.

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Contact Details

Mark McKelvie

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[email protected]

Company Website

http://razorpitch.com

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VVPR, VFS, NWTN, LCID

COMTEX_451713813/2655/2024-05-01T08:06:18