24.04.2020
- CardiacSense is a leading manufacturer of a range of wearable devices for the continuous monitoring of heart arrhythmias and blood pressure
- HSC signs exclusive Distribution Agreement for Australia & New Zealand for watches & wristbands
- HomeStay to integrate CardiacSense solutions in HSC’s IoT Platform for assistive technology
HomeStay Care Limited (ASX: HSC) (“HSC”, or the “Company”) is pleased to announce the execution of an exclusive distribution agreement with CardiacSense Ltd (CardiacSense), based in Israel (Agreement). HSC intends to distribute the CardiacSense wearables and integrate the vital signs data in the HSC IoT Platform. This integration will provide remote vital signs monitoring capabilities to key stakeholders and a 24-hour monitoring response centre.
The CardiacSense wearable devices which are in the scope of this Agreement are comprised of a watch and wristband. The wearables provide continuous monitoring of the cardiac systems and blood pressure. Supported by traditional electrocardiogram (ECG) verification, what makes the CardiacSense wearable different is that it uses PPG technology (photoplethysmography) that is free of any movement artifacts (which are the Achilles Heel of traditional PPG) to carry out long-term, continuous monitoring of the cardiac system’s activity. If the CardiacSense watch detects a heart arrhythmia, cardiac arrest or threshold-crossing blood pressure values, it sends an alert for timely provision of the necessary medical intervention. Integration into the HSC IoT platform will ensure alerts can be appropriately shared with clinicians and other key stakeholders.
The CardiacSense solution has the ability to supply live vital sign data to clinicians to potentially identify any possible underlying issues facilitating early intervention or preventative care. Early intervention will aim to reduce the volume and impact of cardiac episodes. These improvements in medical outcomes will benefit the individual patients as well as the primary health system. Early intervention or preventative care should also reduce overall health expenditure.
The Agreement provides for HSC to distribute CardiacSense wearables in Australia and New Zealand, and complete an integration with HSC’s IoT Platform. HomeStay’s IoT platform receives data from devices integrated into the platform. This data is triaged with customised rule sets and AI predictive analytics, which is then distributed through multiple communication formats to:
- Clinicians and Care teams through dashboard portals
- Families through mobile applications
- Carers through mobile applications
- Executive Management Teams portals
- Nurse Call Systems
- 24 hour Monitoring Response Centres
The CardiacSense wearables are currently undergoing certification for CE Mark in Europe and Food and Drug Administration (FDA) approval in the USA. HSC intends to commence certification with the Therapeutic Goods Administration (TGA) in Australia. The Company notes that the Agreement will have a material financial impact on the Company once TGA certification is received.
The Agreement demonstrates the increasing capabilities of the HSC IoT Platform with the addition of remote vital signs monitoring through the integration of CardiacSense wearable devices.
HSC CEO, Mr Graham Russell, commented: “We are excited by the opportunity to partner with CardiacSense, as we believe the use of medical-grade wearables can be a game-changer for the local health industry. We are looking forward to working with the CardiacSense team and the key health stakeholders to deliver improved health outcomes for people who will benefit from continuous monitoring of heart conditions.”
CardiacSense Founder & CEO, Mr Eldad Shemesh, commented: “Our aim is to lead the field for 24/7/365 monitoring to coordinate medical intervention, reduce hospitalizations, and significantly improve quality of life. This Agreement with HSC provides us with an opportunity to showcase the CardiacSense wearable solutions in Australia and New Zealand, and we look forward to working with a leading provider of connected health solutions.”
This announcement has been authorised by the Board of Directors of HomeStay Care Limited.
About HomeStay
HomeStay provides a range of Connected Health and Smart Home solutions.
The HomeStay assistive technology platform allows elderly and people with disabilities to live independently via “Aging in Place” solutions, through the use of data analysis, as well as human monitoring, to determine residents’ routines and detect anomalies. These early insights allow for better decision-making by care providers and families, allowing more focused service, minimising unnecessary care and facilitating welfare checks in a more responsive manner.
HomeStay helps protect and connect our elderly and people with disabilities with a scalable healthcare technology platform integrated with leading third party providers to ensure end-to-end solutions for Connected Health.
About CardiacSense
CardiacSense Ltd is a developer of innovative optical-base non-invasive technology for monitoring blood parameters (such heart rate and blood pressure) and heart related parameters (such as Heart Rate Variability) monitoring.
CardiacSense sensors provide health-tracking solutions allowing people to live a healthier and calmer life, significantly reducing the occurrence of a stroke by providing a solution for Continuous Heart Arrhythmia Detection.
For more information on CardiacSense, please visit https://www.cardiacsense.com/
For additional information:
Eyal Copitt eyal@cardiacsense.com