MINNEAPOLIS - OneMedNet Corporation (NASDAQ:ONMD), a provider of Real-World Data (RWD) solutions with a current market capitalization of $31.32 million, has announced a collaboration with Bayer (OTC:BAYRY)'s AI Innovation Platform (AIIP) to enhance the development of AI-driven medical imaging software. This partnership leverages OneMedNet's extensive provider network, which includes over 1,400 healthcare facilities, and Bayer's AIIP, to offer developers a comprehensive environment for creating AI applications in healthcare. According to InvestingPro data, the company's stock has shown resilience with a 16.05% gain year-to-date, despite challenging market conditions.
The CEO & President of OneMedNet, Aaron Green, expressed enthusiasm for the collaboration, emphasizing the potential to improve patient outcomes through advanced AI solutions. The integration of OneMedNet's iRWD platform with Bayer's AIIP is designed to provide developers with the necessary tools and datasets to build effective and compliant healthcare applications.
OneMedNet's iRWD platform specializes in managing various clinical data types, such as EHRs, medical imaging, and laboratory results, securely de-identifying and curating data for research purposes. The company aims to support diverse clinical domains, including oncology and cardiology, by providing robust research services to enhance patient care and foster healthcare innovation.
The partnership announcement includes forward-looking statements about OneMedNet's performance and prospects. With the stock currently trading at $0.94, InvestingPro subscribers have access to detailed financial analysis and additional insights, including 8 more key investment tips for ONMD. However, these statements are predictions subject to risks, uncertainties, and assumptions, and actual events may differ materially.
The information for this article is based on a press release statement from OneMedNet Corporation.
In other recent news, OneMedNet Corporation is facing a series of significant developments. The company has been notified by Nasdaq about potential delisting due to non-compliance with several listing requirements, including late filings and a shortfall in its Market Value of Listed Securities and net income from continuing operations. In response, OneMedNet is working diligently to regain compliance and has been granted an extension to submit its overdue reports.
Simultaneously, OneMedNet has announced a restatement of its financial statements for the year ended December 31, 2023, due to inaccuracies in accounting, following the appointment of a new auditor, WithumSmith+Brown, PC. The company is also grappling with a minimum bid price deficiency and has been allotted a 180-day period to rectify this issue.
Despite these challenges, OneMedNet secured approximately $1.7 million in follow-on funding from a private placement with an affiliate of Off the Chain Capital. The funds are intended for working capital and general corporate purposes, part of which is allocated for the purchase of Bitcoin. Additionally, the company has seen a significant leadership transition with the appointment of Bob Golden as Chief Financial Officer, bringing over four decades of financial management experience to the role. These are the recent developments in OneMedNet's operations.
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