Tech News Summary:
- Horizon Technology Finance provides a $30 million loan facility to SafelyYou, with $10 million initially financed.
- SafelyYou’s technology combines real-time AI video with a 24/7 remote clinical team to reduce resident fall rates and ER visits, resulting in better care for residents and reduced costs for emergency room operators.
- The partnership between Horizon Technology Finance and SafelyYou will help the latter expand its reach further and contribute to reshaping dementia care through innovative technology.
Horizon Technology Finance has announced providing a venture loan facility of $30 million to SafelyYou, an innovative company that uses AI technology to prevent falls among elderly patients with dementia.
SafelyYou’s AI-powered camera alerts caregivers when a fall occurs, helping reduce the risk of injuries and hospitalizations to seniors. With Horizon’s funding support, the company plans to strengthen its existing technology and expand its reach across the U.S. healthcare market.
“Horizon Technology Finance is proud to support SafelyYou’s mission of using AI technology to enhance the quality of life for seniors,” said Gerald A. Michaud, President of Horizon Technology Finance. “We believe in SafelyYou’s potential to make a positive impact on the healthcare industry, and we look forward to supporting their growth.”
SafelyYou has already received recognition for its technology, receiving the Best in Show award at the American Health Care Association’s 2019 Quality Awards. The company’s CEO, George Netscher, commented on the Horizon funding, stating, “With Horizon’s support, we can continue to drive innovation in the senior living industry and expand the reach of our technology to help as many seniors and caregivers as possible.”
This strategic partnership between Horizon Technology Finance and SafelyYou is a promising step towards improving the quality of life and care for elderly patients.