Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: NTAR; NEXCF

Augmented Reality Firm Moves into Medical Devices Arena
News Update

Source:

This technology company continues to diversify the end markets for its e-commerce platform.

NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) announced in a news release it entered into an agreement with Block Scientific to provide it with three-dimensional (3D) product models using NexTech's augmented reality (AR) e-commerce platform.

NexTech is in the process of converting three of the clinical laboratory equipment firm's products into 3D representations from two-dimensional ones. Once finished, consumers will be able to view the 3D versions on Block Scientific's website, rotate them 360 degrees and even place them in their own facilities to evaluate size and fit before making any purchases.

The initial products NexTech is transforming for Block Scientific are Medica Corp.'s EasyRA, a fully automated clinical chemistry analyzer; the ThermoFisher Scientific Indiko Plus Clinical and Specialty Chemistry analyzer; and the Siemens Dimension EXL 200, an integrated clinical chemistry and immunoassay analyzer.

"Medical lab equipment is expensive, big and bulky, so to be able to have an AR-3D digital twin for our medical sales reps to bring into doctor's offices or for trade shows is a big benefit for companies like ours," Block Scientific President Jeremy Lindner said in the release. "We're also excited to show our lab equipment in AR-3D on our website for new and existing customers to preview."

"Virtual and augmented reality are set to disrupt the medical products industry in a host of ways, including education, surgical visualizations, and 3D product visualizations," commented Evan Gappelberg, CEO of NexTech. "NexTech is very excited to be a part of the transformation happening in the healthcare industry by bringing our web-enabled AR 'Place It' technology into the medical products segment of healthcare with an industry leader like Block Scientific."

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: NexTech AR Solutions. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with NexTech AR. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexTech AR Solutions, a company mentioned in this article.




Want to read more about Technology and Medical Devices investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe