VANCOUVER, Jan. 21, 2020 /CNW/ – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN; FWB: 1UB; OTCQB: CGNSF) today announced that it has been selected as an official UK delegate for Innovate UK’s Global Business Innovation Programme (GBIP) visit to South Korea. Cognetivity is one of 15 companies invited to join the scheme, aimed at innovative and globally ambitious SMEs in the digital health technology space.
The visit takes place in March and is fully funded, including a five-day programme of meetings with key contacts at medical centres and digital health companies in South Korea. Delegates will also attend the Korea International Medical & Hospital Equipment Show (KIMES) and benefit from a tailored package of pre- and post-visit support to develop their capabilities for the South Korean healthcare market.
Sina Habibi, Cognetivity’s CEO, welcomed the news: “It’s a privilege to have been chosen by Innovate UK from a large pool of applicants for this exciting trip. While we remain fully committed to our commercial roll-out plan closer to home, we are very interested in the prospect of piloting and deploying our Integrated Cognitive Assessment (ICA) in South Korea. Its healthcare system – arguably the most committed in the world to the benefits of technological innovation – represents a significant target in our long-term vision of enhancing digital diagnostics across the globe.”
As the country grapples with an ageing population and increased rates of chronic disease, medical expenses in Korea have grown at 6.8% annually versus the 2.1% average in OECD countries. Heavy government and private investment in the sector has ensued with several high-profile Korean conglomerates emerging as key digital healthcare players, including Samsung Electronics and SK Telecom, Korea’s largest mobile network operator. Valued at USD 3.1 billion in 2015, the country’s digital healthcare market is expected to reach USD 5.7 billion this year.
About Cognetivity Neurosciences Ltd.
Cognetivity is a technology company developing a cognitive testing platform, the Integrated Cognitive Assessment (ICA) for use in medical, commercial and consumer environments. Cognetivity’s ICA uses Artificial Intelligence and machine learning techniques to help detect the earliest signs of impairment by testing the performance of large areas of the brain, potentially allowing early diagnosis of dementia. Cognetivity aims to develop the ICA through ongoing clinical studies to the market in North America, Europe and elsewhere in the world.
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