Carebook Technologies Inc. Provides Update on COVID-19 Digital Screening Solution

Using New Technology, Carebook My Vitals App Set To Revolutionize Digital Health Market

MONTREAL, Oct. 13, 2020 /CNW/ - Carebook Technologies Inc. ("Carebook" or the "Company") (TSXV: CRBK), a leading Canadian digital health company, today provided a development update on its Carebook My Vitals COVID-19 screening solution.

NEW TECHNOLOGY POWERING "CAREBOOK MY VITALS" APP

Carebook has developed an easy-to-use, accessible smartphone app known as Carebook My Vitals that uses new, integrated technology (rPPG) combining a proven COVID-19 assessment with a powerful vital sign scan that measures heart rate, respiratory rate, and oxygen saturation. In under 2 minutes, this screening tool assesses the risk of COVID-19 and other flu-like illnesses. 

The app uses the reflection of light on a person's face with no external devices except a smartphone. The solution empowers individuals with the latest information based on recommendations from the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC).

In anticipation of the global need for Carebook's state of the art solutions, the Company has signed distribution agreements in key markets such as the U.S. and Europe to commence sales and marketing with governments, pharmacies, insurance providers, and industry.

"We are very excited about the progress of our highly accessible Carebook My Vitals solution because of its far-reaching potential to help manage COVID-19 and other health conditions, for people and businesses, on a longer-term basis," commented Pascale Audette, Chief Executive Officer of Carebook Technologies. "Carebook is working diligently with governments and businesses and is awaiting regulatory approval from Health Canada as well as other international regulatory agencies. Our goal is to make this powerful tool globally available within the shortest period of time. Clinical testing of the Carebook My Vitals solution, in collaboration with the Jewish General Hospital, is ongoing."

UNLIMITED COMMERCIAL POTENTIAL

In parallel with the development of Carebook My Vitals for individuals, the Company is building a solution that addresses the immediate needs of employers and employees to mitigate the impact of COVID-19 on businesses.

For a variety of industry sectors that rely on people to self-screen, Carebook My Vitals For Work rapidly performs the COVID-19 assessment plus a vital signs scan to provide instant information so people and businesses can make fast, more informed decisions about their readiness for work.

"More than ever, healthy employees equal a healthy business. Our solutions will be used to revolutionize the way people do their daily symptoms check-in. We aim to empower people and businesses by providing valuable information quickly to help them make informed decisions, and ultimately to reduce the spread of COVID-19," says Dr. Sheldon Elman, Carebook Executive Chair. "Implications for industry like the service sector, tourism, retail, and insurance are unlimited and easily scalable."

The Company is committed to the privacy and security of health information and strictly adheres to the HIPAA, PIPEDA, AND GDPR safeguards. No personal information from the app is shared.

About Carebook Technologies

Our core is science. Our solutions are accessible. Our mission is to empower people.

Built on a powerful health platform, Carebook creates highly engaging, customer-centric digital solutions for pharmacies, insurance providers, individuals, governments, and businesses. Based in Montreal, and led by a world-class team and Board with extensive global business and healthcare industry experience, Carebook's core is science and technology, its philosophy is people-first, and its goal is accessible, connected health for everyone. Carebook recently listed on the TSX Venture exchange under the symbol "CRBK". www.carebook.com 

Notice regarding forward-looking statements:

This release includes forward-looking information within the meaning of Canadian securities laws regarding Carebook Technologies and its business. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Carebook Technologies, and are based on assumptions and subject to risks and uncertainties. Although the management of Carebook Technologies believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the threat detection technology industry, failure to obtain regulatory approvals, economic factors, management's ability to manage and to operate the business of Carebook Technologies, the equity markets generally and risks associated with growth and competition. Although Carebook Technologies has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Carebook Technologies does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. In addition, the current situation and future developments with respect to the COVID-19 pandemic could cause certain of the assumptions and information set forth herein or the fact that on which such assumptions are based to differ materially from previous expectations including in respect of demand for our products, supply chain and availability of materials, mobility and shipping of materials and or products, access to debt and equity capital and other factors.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View original content:http://www.prnewswire.com/news-releases/carebook-technologies-inc-provides-update-on-covid-19-digital-screening-solution-301151457.html

SOURCE Carebook Technologies Inc.