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TORONTO, ON / ACCESSWIRE / June 20, 2024 / Sparta Group (TSX.V:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") has announced that it has entered a strategic partnership with Parametric Design Canada Inc., a leader and innovator in augmented reality technologies. The alliance has been forged to allow the companies to elevate Sparta's Autonomous Medicine Project to a whole new level with Augmented Reality (AR) visors.
When complete, the "Doc-in-a-Box" project is anticipated to meet all the requirements for a Category 4 Software as a Medical Device (SaMD) and offer the additional benefits of Augmented Reality (AR) integration. Through this joint effort, the companies intend to offer healthcare professionals a groundbreaking decision support medical device that is Health Canada/FDA approved providing autonomous diagnosis of illness and selection of treatment coupled to the enhanced, interactive availability of a real-world environment with AR glasses. As designed, the system will enable the sharing of live streams with remote doctors for immediate support and decision-making. The integration of Parametric Design Canada Inc.'s sophisticated AR application can also offer vital assistance in both medical training and treatment diagnosis.
Doc-in-a-Box is intended to help doctors, nurses or other healthcare professionals provide their patients with better service more efficiently. The system supports a just-in-time access to the latest medical evidence base for over 2,500 indications and treatment options thus providing patients with the best medical care immediately available and ensuring the highest standard of medical practice. Management from both companies have said they are "thrilled" to be merging their expertise to develop a technology that will make high-quality medical care more accessible, especially in remote areas of the world and in challenging environments like space exploration, where traditional healthcare is limited.
"We are fortunate to have Parametric Design Canada Inc.'s expertise and look forward to a highly successful alliance. Formalizing our relationship is an important step in our journey to develop and commercialize this transformative medical device. It will empower medical professionals to fully leverage our technology to combat two of the biggest challenges in healthcare - wait times and health outcomes," said Sparta President, Tony Peticca.
Augmented reality (AR) opens a whole new way to interact with the world around us through digital visual elements, sounds, and other sensory stimuli. Parametric Design Canada has experience in applying AR to multiple industries.
"Merging Parametric Design Canada Inc.'s expertise in augmented reality with SPARTA Group's commitment to health and green technology means we are poised to redefine the boundaries of medical technology. We are excited about the potential for deeper integration of our technologies, and we look forward to exploring new horizons together. Our shared vision is one where AR and AI-driven solutions become integral parts of medical practice, transforming the way healthcare is delivered and experienced," said Parametric Design Inc.'s, Richard Bressan.
Statista, the global data and business intelligence platform states that over 23 million jobs worldwide will be enhanced by AR technology by 2030.
About Parametric Design Canada Inc.
PARAMETRIC DESIGN CANADA INC. is highly experienced in augmented reality technologies and plays an integral role in Sparta's initiatives. The company offers expert training, specialized consultancy services, and engineering services in all aspects of product development, including design, simulation, PLM, IIoT, and AR. As a partner and authorized retailer for PTC and Keyshot, PARAMETRIC DESIGN CANADA INC. provides a comprehensive product suite that includes CAD 3D, CAM, PLM, Rendering, Augmented Reality, Industrial Internet of Things (IIoT), and multi-physics simulation software.
About Sparta
Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company focused on integrating emerging technologies. It operates with a decentralized business model, with each active business functioning as a separate subsidiary. This structure provides brand recognition, insight, high-level strategic guidance, and financial monitoring. Sparta Capital Ltd. is strategically positioned across three dynamic business verticals, each engineered to integrate cutting-edge technologies and drive sustainable growth. Environment: ERS International, is a waste management operation with its state-of-the-art, proprietary e-waste processing technologies. Health: Sparta Health Corporation is a vertical harnessing the power of Artificial Intelligence (AI), Machine Learning (ML), and Augmented Reality (AR), to develop technologies that enhance personalized patient care and improve treatment outcomes. Transportation: TruckSuite™, guided by top industry experts, is a comprehensive suite of products and services designed to keep trucks operational and drivers competitive. TruckSuite management believes their offerings can play a pivotal role in enhancing the logistics and transportation industry.
Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSX.V: SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
For more information contact:
Tony Peticca, President
Email: [email protected]
Telephone: 416-648-6506
This above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this information and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE: Sparta Group