Vection Technologies lands $1.6M contract to support Brexia Med

Vection Technologies (ASX:VR1) has been awarded a $1.6 million contract for AI software licences, a significant development in its proposed acquisition of The Digital Box, a generative AI company.

The agreement marks a pivotal step as TDB gears up to supply Brexia Med, a leading European healthcare provider, with its Algho AI software, enhancing patient screening processes.

The contract, crucial for empowering Brexia Med's "Hub & Spoke" healthcare model, is initially set for three years, with a provision for a two-year extension.

This could extend the total contract value to over $2.5 million, highlighting the potential of AI-driven solutions in the healthcare sector.

"This contract marks a significant milestone in showcasing the power of TDB’s AI capabilities," said Gianmarco Biagi, Managing Director of Vection Technologies.

Biagi further elaborated that the partnership "demonstrates how AI can transform critical sectors like healthcare," as Vection aims to expand AI integration within the medical industry.

Vection Technologies is an enterprise-focused company that helps businesses bridge the physical and digital worlds.

The company helps organisations leverage their three-dimensional data through powerful extended reality interfaces that foster collaboration and learning, grow sales and more.
 
At the time of reporting, Vection Technologies' share price was $0.021.