Fnord - waving at your moron bus as it drops you off at the institution for the criminally insane...
CYBeR-CARE Receives FDA 510k Clearance to Market Its Electronic HouseCall 400 & 600 Systems
Business Wire - June 16, 2000 14:59
BOYNTON BEACH, Fla.--(BUSINESS WIRE)--June 16, 2000--CYBeR-CARE, Inc. (Nasdaq:CYBR) announced today that it has received 510k market clearance (Regulatory Class II) from the FDA to sell its Electronic HouseCall(TM) (EHC400 & 600) systems, a patented Internet-based technology that remotely monitors individuals in their homes for health care purposes in the United States.
Numerous independent industry studies have indicated that patient monitoring can significantly reduce patient health care costs, estimated at 35% - 40% annually, while improving care. The EHC systems allow full two-way audio and video communication between a patient and a caregiver 24 hours per day via CYBeR-CARE's patented technology.
The Electronic HouseCall(TM) system also collects patient's vital signs (such as temperature, blood pressure, blood oxygen content and pulse rate) and automatically records them in a central database within the network so that the caregivers have real clinical information about the patient's condition.
CYBeR-CARE intends to market the EHC units mainly to health care organizations which are at risk for the total costs of caring for chronically ill patients. These patients represent approximately one percent of the population, however, they are responsible for approximately one third of all health care dollars spent in the U.S. (expense per patient averages $70,000 annually), as well as in other countries. Insurance companies may save four to six times the amount they currently pay per patient per year as a result of the use of the EHC systems.
John Haines, President of CyberCare Technologies, said, "Independent industry studies show that thousands of dollars per patient per year can be saved, after paying for all of the costs of the technology and the caregiver's time. This is an incredible value proposition for the payers and the patients alike. It not only saves a lot of money, but it does so while providing better care for the patients."
"This is what the U.S. healthcare system has been waiting for," said Paul Pershes, President of CYBeR-CARE, Inc. "There is tremendous worldwide demand for this technology as demonstrated by the number of inquiries for the EHC systems that we have received. Now we will be able to provide the same benefits to U.S. customers as we will be providing to individuals in Asia, Europe and other markets."
Based in Boynton Beach, FL, CYBeR-CARE is a technology assisted health management company with four business lines. The Company's Electronic HouseCall(TM) System, a patented Internet-based technology system provides for the remote monitoring of individuals for health care purposes. In addition, CYBeR-CARE operates physical, occupational and speech therapy centers, an institutional pharmacy and one of the world's largest air ambulance transport services.
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, 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.
CONTACT: CYBeR-CARE, Inc., Boynton Beach
Jessica Wolpert, Investor Relations
800/938-1899
Website: www.cyber-care.net |
