New pick: $TREIF Treatment.com AI: The Quietly Emerging $24M USD Healthcare AI Company Gaining Ground on $1B+ Industry Giants
Treatment.com AI: The Revenue-Ready AI Healthcare Play Investors Are Missing
By Penny Queen
Bottom Line Up Front
Treatment.com AI (OTC: TREIF |CSE: TRUE) will be reporting Q2 2025 earnings by the end of August-marking its transformation from a pre-revenue AI company to an organization generating $1.38M USD+ ARR based on historical revenue leading up to its most recent acquisition. While healthcare AI unicorns command billion-dollar valuations with minimal revenue, Treatment.com AI (“Treatment” currently trades at a $24M USD market cap despite having innovative AI technology, proven revenue, and an announced pipeline of Medicaid contracts covering millions of underserved patients.
The Revenue Inflection Is Here
For the first time in Treatment's history, their Q2 2025 financials are expected to show consolidated revenues following the April acquisition of Rocket Doctor - a technology-driven digital health platform and marketplace serving 600,000+ patients across 4 provinces and 3 U.S. states. This isn't theoretical anymore. Treatment has announced:
Future projected additional $1.2M USD ARR from California Managed Care Plan alone, with an anticipated GM of $18/visit across some 45,000 visits in Year 1
600,000+ patients and 300+ physicians on the platform
CVS Health Foundation funding a 5 year, $1M grant to support older adults
The market hasn't noticed yet because Treatment has been quietly building. That's about to change.
The Medicaid Gold Mine Others Are Ignoring
Here's what makes Treatment's strategy brilliant: one of its targets is the 71.3 million Americans on Medicaid- a massive, underserved population that other AI healthcare companies avoid because of "lower margins."
But Treatment's unit economics tell a different story:
Medicaid patients pay $0 to see doctors (fully covered)
Treatment can earn $18 per visit
Chronic disease patients require multiple visits annually (between 6 and 10)
Limited customer acquisition battles with well-funded competitors
New revenues will also ensue from Rocket Doctor being announced as an In Network provider for New York Medicaid approval covering 6.9M Medicaid beneficiaries (enabling affordable medical care accessibility for ~ 35% of New York’s population).
Tested Proprietary AI Technology but an Inferior Valuation
Treatment's Global Library of Medicine (GLM) represents 9 years of physician-curated medical knowledge - not the probabilistic guesswork of large language models. Key differentiators include:
Emphasis on Clinical Accuracy
A non-medical undergraduate used Treatment's AI to correctly diagnose 11 of 12 patients in a medical school-level clinical exam (OSCE)—a 92% success rate that demonstrates the platform's diagnostic precision.
Curated vs. Generative AI
While competitors like OpenEvidence ($3.5B valuation) rely on research papers (many of which are later proven false), Treatment's GLM uses:
Inputs from hundreds of doctors globally, since 2016
10,000+ expert medical reviews
1,000+ diseases and 15,000+ symptoms
2nd and 3rd pass technology to enhance the accuracy of diagnostic recommendations (The platform will suggest which labs and imaging the patient should go for and when the results come back, it dynamically adjusts the differential diagnosis in real time based on the new data)
Physician-validated diagnostic logic
Audit trails for every recommendation
Multiple Deployment Options
The GLM can be consumed in multiple ways, including powering chatbots, voice assistants, and avatars—all can be white-labeled and multilingual. Treatment has designed its platform to integrate with electronic medical records (EMRs), telehealth platforms, or health systems and can reside behind a client firewall for security.
The Valuation Disconnect seems Evident??
Treatment acquired Rocket Doctor for a max payout of $14.6M—nearly half their current market cap. It could be perceived that investors today are essentially getting the proprietary GLM AI technology for free.
Why the Market Missed This Story
Treatment's journey illustrates a classic venture capital irony: the company with proprietary AI technology and a clear revenue path is trading at a fraction of pre-revenue competitors' valuations.
The reasons are structural:
Public vs. Private: Treatment trades on the Canadian Securities Exchange, not in Silicon Valley boardrooms
Timing: The revenue story only emerged with the Rocket Doctor acquisition
Market Awareness: No institutional coverage despite superior fundamentals
As one insider noted: "We're trading on an overlooked exchange while inferior products get billion-dollar valuations from the right investors."
Multiple Catalysts Ahead
Immediate (Q3 2025)
Q2 earnings release showing first consolidated revenue
Medicaid contract pipeline progression across multiple states
Medium-term (Q4 2025 - Q1 2026)
Initial GLM licensing deals
Potential expansion to additional states
Longer-term (2026+)
Prospective NASDAQ uplisting (target: $100M+ market cap)
Enterprise GLM deployments across health systems
International expansion through announced partnerships
The Investment Case
Revenue Validation
Treatment isn't another AI story seeking product-market fit. They have:
Contracted revenue from government Medicaid programs
Proven demand from 600K+ patients and 300+ physicians
Award-winning platform recognized at medical conferences
Scalable Technology
The GLM represents a 9-year head start in medical AI that competitors can't replicate quickly. It's designed to be:
Clinically validated by physicians
Regulatory-ready with full audit trails
Platform-agnostic for multiple deployment scenarios
Defensible through physician network effects
Market Timing
Healthcare AI is the hottest sector in venture capital, with $3.95B invested in H1 2025 alone. Treatment offers:
Public market access to private-market-quality AI technology
Revenue traction that most AI unicorns lack
Undervalued entry point before institutional discovery
Risks to Consider
Execution Risk
Scaling patient acquisition across multiple states requires operational excellence and regulatory navigation.
Competition Risk
Well-funded competitors may eventually target the Medicaid market, though Treatment's head start and relationships provide protection.
Market Risk
Healthcare AI valuations could compress, though Treatment's revenue base provides downside protection that pre-revenue competitors lack.
The Bottom Line
Treatment.com AI represents a rare opportunity: a revenue-generating AI healthcare platform trading at a fraction of comparable valuations. The company has:
☑️Proprietary and Accurate technology (physician-curated vs. probabilistic AI)
☑️Existing Revenue model ($1.38M USD+ ARR)
☑️Massive addressable market (71.3M Medicaid patients)
☑️Multiple growth catalysts
While healthcare AI unicorns capture headlines with billion-dollar valuations and minimal revenue, Treatment has quietly built a proprietary platform, validated by clinicians, to serve millions of underserved patients with technology that actually works.
The Q2 earnings release will mark Treatment's coming-out party. For investors seeking AI exposure with revenue validation, this may be the last chance to get in before institutional discovery.
Investment Highlights:
Market Cap: ~$24M USD
Revenue: $1.38M USD + ARR (second quarter reporting in August)
Addressable Market: 73M U.S. Medicaid patients
Competitive Moat: 9-year physician-curated medical AI database
A Note on Friday's Announcement:
As announced in Friday's press release, Treatment.com AI has engaged 45 Degrees (me) for a 6-month investor relations agreement valued at $30,000/month plus 400,000 options.
Before any ads go live, I wanted to tell my community first.
About my standards: I review ~20 companies weekly and talk seriously with 4-5. No amount of money could make me promote a company I don't believe in or haven't invested in personally. My reputation with you matters more than any contract.
For longtime readers: You know I've been following Treatment's evolution. Now it has all the pieces—revenue, validated tech, institutional partnerships, and growth visibility.
Here's what this engagement means: Treatment is funding a $180,000 digital marketing campaign targeting retail investors before institutional discovery. You're getting this analysis first because sophisticated retail investors often spot value ahead of institutions. This isn't consulting fees, it's marketing capital to build awareness while Treatment still trades at a $24M market cap despite $1.38M+ ARR. You're seeing this before the broader campaign launches.
Disclosure: The author owns shares of Treatment.com AI and has entered a strategic marketing agreement valued at $30,000/month for 6 months plus 400,000 options. This analysis represents the author's views and should not be considered personalized investment advice.
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Great article PQ I’ve been following #TREIF since you first alerted it 🙏