Loop Insights signs LOI for licensing deal with Maitri Health Technologies
Combination of Loop technologies with Maitri platform has potential to create new model in $120 Billion PPE market.
Research & Development
Technology / IIoT
VANCOUVER — Loop Insights Inc., a provider of contactless solutions and artificial intelligence to drive real-time insights, announces the signing of a letter of intent (LOI) for the grant of a non-exclusive license to Maitri Health Technologies Corp. for various aspects of Loop’s technology in return for CDN$2,000,000 in cash and common shares as well as a revenue-sharing arrangement.
Maitri Health Technologies is focused on modernizing healthcare systems for a post-pandemic world. Global events in 2020 identified the need for long-term security in both healthcare and the workplace. Maitri is a global platform for healthcare supply security providing a source of certified PPE (personal protective equipment) and testing solutions through an onshore manufacturing model. This model has led to the creation of products integrated with technology to help track, trace, and enable safer workplaces and communities. Maitri’s vision for the future is for safe workplaces and institutions to enable economies to operate uninterrupted.
The global market for PPE is expected to exceed USD$123 Billion by 2027 according to Grandview Research. The global workplace safety market is expected to grow to USD$19.9 Billion by 2025 according to Research and Markets.
Loop Insights CEO Rob Anson stated: “COVID-19 created an immediate need for PPE that also immediately became a highly disorganized and fragmented market of middlemen and brokers with often questionable sources. Maitri’s ability to establish secure access and trusted distribution to key PPE products through a platform positions them to quickly become a strong force in the industry. This licensing arrangement will provide the ability to add venue, business and building protection to their offering, leading to brand new opportunities and revenue models.”
LICENSING ARRANGEMENT TO COMBINE PPE, ARTIFICIAL INTELLIGENCE AND PROPTECH IN FIRST-EVER AND FULLY SCALABLE OFFERING
Maitri’s PPE line of products combined with Loop Insights technology represents the convergence of a PPE, AI, and Proptech offering that enables operators, businesses and building owners to reopen and protect constituents with a documented process from verified PPE and AI-driven marketing opportunities. This combined protocol enables physical buildings to fully reopen, generate revenue, and remain viable assets under end-to-end protection.