Diamond Lake Minerals, Inc. (OTC: DLMI) (the "Company" or "DLMI"), announced today that it has entered into a Joint Venture agreement with Medflow, Inc., a technology company that combines state-of-the-art computer vision in a telemedicine suite for security, vitals and biometrics capture, and HIPAA compliant video conference features; with the ultimate goal of a full reverse merger into DLMI. As part of the definitive agreement, DLMI has been granted exclusive licensing rights to worldwide marketing and distribution of Medflow’s Telemedicine. DLMI hopes to then raise development capital alongside Medflow for a strategic and accelerated go-to-market path.
“I have dealt with many health and technology companies, including a telehealth network provider recently. This opportunity to combine DLMI shareholders with one of the most cutting-edge telehealth, ‘know your patient’ technology solution, provides DLMI shareholders a renewed equity growth opportunity,” according to William Michael Reynolds, Chairman and CEO of Diamond Lake Minerals, Inc. “We are excited that this disruptive technology is more relevant than ever in the post COVID era where telemedicine is now a viable option. We believe Medflow will be an integral part of future telemedicine security and biometric authentication.”
Medflow is a company coming out of 2 years of R&D in AI computer vision development for facial recognition biometrics, liveness detection, and other security-related features resulting in industry-leading benchmarks like 100ms facematch that is highly accurate and focused on overcoming computer vision bias against darker ethnic faces. According to the National Institute of Standards and Technology, facial recognition technologies falsely identified Black and Asian faces 10 to 100 times more often than they did white faces. The technologies also falsely identified women more than they did men—making Black women particularly vulnerable to algorithmic bias (Rauenzahn, 2021). The innovators behind Medflow trained their models to achieve 99.8% accuracy in extremely complex and typically hard to identify faces of color. This is combined with computer vision features to detect heart rate, stress indicators, breathing, and many other health markers without the assistance of hardware monitoring devices, with a mean accuracy and precision of 95% CI of 200 systolic, diastolic, and pulse pressure prediction models using only the camera on a cellphone based on results from a clinical study published with the American Heart Association.
This technology platform is combined with a laser focus on security, creating a telemedicine solution that can integrate with Zoom and other tech platforms that boasts HIPAA-compliant facial recognition chain of custody, and data vault architecture that uses polymorphic encryption to secure patient identifying information.
“Medflow is a solution meant to specifically fix massive problems in the existing telemedicine sector, especially around security. Based on a Fierce Healthcare report, in 2021 US healthcare spent over $6 billion on patient misidentification with over 33% of all denied claims tied to this failure. Data breaches are also the highest they’ve ever been with over 43.1 million patient records breached in 2021. Trustwave reported that a healthcare record could be valued up to $250 per record on the black market compared to $5.40 for the next highest value record – a payment card. These are massive issues that can be curbed quickly, the opportunity to merge with DLMI lets us accelerate this strategy and go-to-market faster and with stronger public support. We’re excited for this next chapter,” said Kawal Arora, co-founder and CTO, Medflow.
About Diamond Lake Minerals, Inc.
Founded in Utah in 1954 the company DLMI is a holding company in the industries of construction, mining, housing, roadway, and infrastructure industries, as well as commercial and residential neighborhood re-development and construction.
About Medflow, Inc.
Medflow is an AI-powered telemedicine solution that combines best-in-class facial recognition biometrics to accurately verify patient identity using next generation zero-trust security architecture. It boasts a suite of computer vision-based features that allow providers to review and legally sign medical and legal documentation live with the patient, issue prescriptions, and capture patient vitals including heart rate, blood pressure, breathing, and stress indicators. All without special hardware or equipment, just the use of the patient's computer or mobile phone camera. At Medflow we believe in building uncomplicated AI-powered tools and insights, unshakable trust between provider and patient, and unbelievable ease of access to healthcare, for everyone. For more information, please visit www.medflow.ai.
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