Data Insights for the Global Medical Plant Industry
RYAH Medtech Inc. has developed a digital ecosystem that leverages the internet of things (IoT) and patented artificial intelligence (AI) technology to create a data-driven service for the medical cannabis industry. RYAH’s dose-measuring vaporizer not only allows patients to control their dosing but also helps improve and optimize dispensary and licensed producer business models by sharing HIPPA-compliant data on strain consumption.
The vaporizer device is a one-time buy, but the cartridges are purchased by dispensaries, licensed producers and pharmacies, ensuring a recurring revenue stream. Each cartridge also contains a QR code that patients scan before each consumption session that captures lab results of the cannabis strain. The strain data and user consumption information from each session is then shared with the dispensary or licensed producer, which can assist in both patient care and strain cultivation techniques.
RYAH also intends to offer its vaporizer and data analytics platform to doctors, hospitals, pharmacies and clinics. By sharing the data, the company can help physicians and patients personalize treatments, ensuring effective relief from ailments and pain.
RYAH has produced 100,000 cartridges and 1,200 devices, launched sales in the US and expects to be selling its products in storefronts in Canada this year. The company’s recently acquired medical establishment license from Health Canada for its cartridges, which gives it more credibility as a medical cannabis data provider in North America. The licenses are expected to help facilitate RYAH’s entry into the European and Asia-Pacific medicinal cannabis markets in 2020.
RYAH Company Highlights
- RYAH utilizes a recurring, commercial-stage revenue model with a multi-prong strategy to generate revenue.
- First AI system to fingerprint cannabinoids and map for medical conditions
- Substantial IP portfolio with six global patents pending.
- Owns a highly-recognized brand that has drawn media attention and prestige in the medical CBD and cannabis market.
- RYAH’s database contains over 180,000 patients and participants.
- RYAH has produced 100,000 cartridges and 1,200 devices to date.
- Vaporizer sales launched in the US in July 2019.
- Received Health Canada medical establishment license in June 2019.
- Secured strategic relationships in the US, Canada, Australia and the UK after entering the commercialization stage of its smart vaporizer and cartridges.