CyberCare Technologies, Inc. to Provide State-of-the-Art Products and Technologies to Childrens Hospital Los Angeles for First-Ever Study Three Year Firm Fixed Contract for $900,000
Friday November 15, 2:34 pm ET
BOYNTON BEACH, Fla.--(BUSINESS WIRE)--Nov. 15, 2002--CyberCare, Inc. (OTCBB:CYBR - News) today announced a multi-year, multi-phase order from Childrens Hospital Los Angeles ("CHLA") to support a first-ever study in the treatment and management of diabetes, obesity and lifestyle management in a minimum of 100 children in the greater Los Angeles area.
The total investment by CHLA in the project will be $1,300,000 over a three-year period, including a firm-fixed order of $900,000 with CyberCare Technologies, Inc., and an additional $400,000 allocated to ensure clinical and operational efficacy. The delivery and installation process will begin immediately allowing the company to secure approximately 60% ($500,000) of the total revenue within the first several months of the study.
The order includes the latest technology within the Electronic HouseCall* Family of products offered by CyberCare Technologies, Inc., including a combination of POTS and broadband connectivity. Specifically included in the order are the CyberCare 24 Network, EHC 3000s, EHC 5050s, EHC 2000s, EHC 4000s, EHC 1650s and CyberCare EHC Server products. The mix of products and technologies will allow CHLA the flexibility to match the right technology with the proper disease and patient need based on the individualized care protocols.
The data gathered in the study will be available to all caregivers and included family members via secure access over the Internet, using CyberCare's technology. Patient privacy and confidentiality, along with information security are cornerstones of the fully integrated system, as with all CyberCare 24 Network installations. Since all CyberCare Technologies, Inc. products are based on industry standards for data gathering and interchange, the information collected is also available for integration into other hospital information systems.
The CHLA study is significant because for the first time, a premier healthcare facility's proper methodology and analysis will be used to evaluate the efficacy of all three classes of technology along with the associated clinical case protocols.
CyberCare Technologies, Inc. is uniquely positioned to offer the full range of capabilities in order to market specific patient applications. No other vendor in the industry has the breadth or depth of offering, industry knowledge and application support available from CyberCare Technologies, Inc.
The study will include state-of-the-art enabling technology from CyberCare Technologies, Inc., along with clinical and business management and care expertise provided by CHLA. The expectation is that the products and technologies in the study will demonstrate greater access to care for more patients, lower the cost of delivery of care for both the patient and the hospital, and provide a fully interactive program for the patients to engage with support groups and specialized caregivers.
The initial phase of the study will focus on delivering improved overall care to chronically ill children by providing a video based approach, ensuring better compliance, monitoring, education and support. The second phase of the study will focus on enhanced compliance through socialization and group activity via simultaneous real time interactive multi-conference "classroom" support while being able to monitor key physiological aspects for patients in peer groups. The third phase will include the management of chronic diabetes via inexpensive POTS based non-video communication devices, associated peripherals and assessment software.
Physicians and other health care providers participating in the study will be able to review patient data and receive automatic alerts based on assigned thresholds by patient measurement over the Internet via a secure access and portal provided by CyberCare Technologies, Inc.
Other expansion possibilities are under consideration and review.
"We are very pleased with our affiliation and close working relationship with Childrens Hospital Los Angeles and its prestigious staff," said Joe Forte, President and CEO of CyberCare, Inc. "Our developing relationship will truly provide a showcase of how leading edge technology, combined with state-of-the-art care planning and committed personnel, will offer the right combination required to bring affordable, quality care to individuals in their home, while truly impacting the lifestyle of this segment of our nation's children and youth." Mr. Forte added, "We view this long term relationship to be significant for CyberCare Technologies, Inc. in several ways. It not only represents the clear value proposition that CyberCare Technologies, Inc. offers related to home care for chronic diseases management, but also demonstrates the impact our unique offerings provide for lifestyle management."
The selection of the CyberCare Technologies Inc. solution clearly demonstrates the significance of the products, and the value of addressing technology, deployment and program management issues. This project is a testimonial to a complete and integrated tele-monitoring solution which is expected to provide cost avoidance and better access for institutions, and improved quality, accessibility and convenience of care for the patient including self-participation in the avoidance of a catastrophic event.
About CyberCare, Inc.
CyberCare, Inc. is a holding company, which is primarily composed of a services business comprising both a physical therapy and rehabilitation business and a pharmacy business, and a healthcare technology solutions business. Our overall goal is to improve the delivery and quality of healthcare for patients while adding incremental value to our customers' clinical and business processes. Our physical therapy and rehabilitation business operates clinics in southern Florida. Its caring staff of clinicians and therapists compliment traditional primary care, orthopedic and neurological physician services and serves a wide range of patients requiring physical and occupational therapy and other rehabilitation services. Our pharmacy business supports patients and residents in assisted living and other long-term care facilities located in Florida. It also is licensed for mail order distribution across all fifty states.
Our healthcare technology business utilizes its intellectual property, including patented technology, to deliver tele-health solutions addressing the entire continuum of care. Its Electronic HouseCall® (EHC(tm)) hardware and software technology focuses on the chronically ill, wellness management, compliance and wound care. The EHC(tm) family of products and services permit enhanced physician supervision and oversight and enable remote medical and wellness monitoring and real-time interactive communications between patients and caregivers. This is made possible through various monitoring devices, hardware and software applications and our ability to establish an interactive network across the health care continuum and among a community of users and providers. In combination with our customers' clinical and business processes, the Electronic HouseCall® system allows for effective and efficient data collection, integration and security, while successfully supporting case management and promoting personal participation and interaction.
CyberCare, Inc. is headquartered in Boynton Beach, Florida. Visit our website at cybercare.net.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including, but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, product acceptance and effectiveness, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
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Contact:
CyberCare Technologies, Inc., Boynton Beach
Alan Adelson, 561/742-5000
biz.yahoo.com
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Source: CyberCare, Inc. |
