GlobalSpace Technologies enters into a Commercial Contract with Pharma Major - Cadila for its DocExa pro platform

GlobalSpace Technologies has made a significant progress in its HealthTech business vertical. The Company has entered into a Commercial Contract with the India Pharma giant - Cadila for its DocExa pro platform. Just within a month of its formal launch, the Company has managed a significant Commercial contracts with Cadila - vindicating the inherent strength of the DocExa platform and also ability of Company to take the product on a larger platform. GlobalSpace has developed the first Artificial Intelligence (AI) enabled virtual consultation app - DocExa.

The Commercial Contract between GlobalSpace and Cadila is major leap for the Company as Cadila would exclusively take the Healthcare product to its extensive network of around 50,000 Doctors across the country. The app would enable Doctors to set up their own personalized virtual consultation clinic with zero exposure of patient database getting shared with other doctors. Equipped with AS2 advanced levels encryption, all the data's remain highly secured in the app. The app would enable patients to have option of securely uploading individual EMR - Electronic Medical Records. Doctors would be able to prescribe medicines with three different easy modes and charge consultation fees as per their discretion.

DocExa is likely to revolutionize the Healthcare Ecosystem and the timing of its commercial launch is just apt considering the prevailing pandemic Covid-19. Today amidst the changed environment whereby social distancing and personal safety has become primary necessity for delivery of any service be it healthcare, banking or general services. Doctors and Healthcare specialists have turned out to be the real Covid warriors and helping the society in fighting against the deadly virus. In such situations, safety of patients and at the same time Doctors becomes very critical. DocExa would precisely ensure safety of both patients and Doctors and would be able to provide 24x7 consultation.

'A Virtual Clinic' - which DocExa creates, would leap forward Healthcare services on the Digital Platform. Covid-19 has accelerated Digital adoption across our life be it Education, Entertainment, Financial Services, shopping of even essentials and more importantly even Healthcare. Digital adoption has been much faster and smoother and is likely to transform our way of living all together. DocExa - Virtual Clinic would be ensuring a systematic dissemination of medical consulting on a Digital platform right from appointment to consulting to EMR to prescription to medicine supply to payments in a seamless manner.

GlobalSpace Technologies already has a business contract with Mediapp, India's leading digital distribution network for Pharmaceuticals. GlobalSpace would be integrating DocExa with Mediapp to create a 360 degree 'Digital Healthcare Ecosystem'. The integrated platform of DocExa and Mediapp would create a one of its kind digital platforms wherein a network of chemists would be digitally connected to Doctors and Patients. Such an integrated platform is likely to put GlobalSpace DocExa much ahead of other Medical Apps available within the sector.

Commenting on the , Mr. Krishna Singh, Founder & CMD, 'We at GlobalSpace have always endeavored sand focused in establishing ourselves as major Digital Transformation player within the Healthcare space. Our AI-based DocExa was conceptualized much ahead citing the next level of technology transformation in the Healthcare industry. We are proud to be associated with one of the major Indian Pharma Company - Cadila for taking our products across their Doctors network of around 50,000 doctors across the country. The alliance gives a substantial large platform for scaling our DocExa reach and garnering a substantial market share in the Digital Healthcare Space. GlobalSpace has emerged as a 360-degree Digital Healthcare service provider'.

He further added, 'GlobalSpace is now stepping into an exciting high growth phase with two major drivers - Healthcare and Education. The tie-up with Cadila is just a stepping stone for the Company and we are expecting similar major alliances with various domestic and international Pharma companies. DocExa has significant scalable business model - as its primary revenue would be from licensing fees, AMC fees, pay per use and secondly in the next leg DocExa would generate multiple cross selling opportunity on an integrated platform of Pharma Companies, Doctors, Chemists and Patients. The Company would be deploying its skill sets and AI, Big Data, Data mining, Data analytics to maximize revenues generating opportunity. In addition to commercial opportunity, GlobalSpace is also committed to meet its social cause by enabling DocExa to reach out its quality and affordable Healthcare services to the remotest corner of the country and also to the masses, who are largely deprived of basic primary Healthcare'.

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.374 as compared to the previous close of Rs. 369.6. The total number of shares traded during the day was 311490 in over 4836 trades.

The stock hit an intraday high of Rs. 376.5 and intraday low of 360.35. The net turnover during the day was Rs. 115288785.

Source : Equity Bulls

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