Generative AI Solutions Corp (OTCMKTS:AICOF) Stock Soars: What’s The Buzz?
Generative AI Solutions Corp (OTCMKTS:AICOF) on May 10, 2023, announced closing the acquisition of all outstanding securities ofGlobal AI Billing Corp.in exchange for the issuance of an aggregate of 7.5 million common shares of GenAI. There is also the assumption by GenAI of US$1.25 million in existing liabilities of Global AI Billing. Global AI Billing’s main assets include 10% ownership in Remitz, Inc.
Trading Data
On Wednesday, AICOF stock moved up 7.02% to $1.2200 with more than 0 shares, compared to its average volume of 41.55K shares. The stock moved within a range of $0.0000 – 0.0000 after opening trade at $0.0000.
Genai Closes Acquisition Of Medical Ai Billing Company
Formed in 2022, Remitz is engaged in servicing the healthcare space by giving AI-powered billing as well as receivable management service to significant healthcare providers. Software utilized by the company was created during the covid pandemic for streamlining the billing process between Americans getting testing and insurance providers.
The software was harnessed for billings of more than CDN$100 million and over a million claims successfully collected. In the current year, Remitz acquired as well as upgraded the software, and is now using it to facilitate collection of rejected medical insurance claims for large health care providers.
The company is also looking to expand the use of the software through sales channel partners for implementing software into more providers. Its software harnesses AI integrating existing healthcare systems, including 50,000 healthcare clinics, 600,000 healthcare providers, and over 4,200 hospitals.
Ryan Selby, CEO of GenAI expressed delight in announcing the closure of the transaction. Selby believes that Remitz has developed an amazing AI-powered solution and can generate significant revenue using innovative software.
