CareView Communications, Inc. Executes Hospital Agreement With PIH Health Hospitals
CareView Communications (OTCQB: CRVW) has signed a significant hospital agreement with PIH Health, covering its three California hospitals. This three-year contract incorporates CareView's latest Patient Safety System technology, including Gen 5 hardware and software. The deal capitalizes on CareView's new revenue model, where hospitals pay upfront for hardware and license software annually. This partnership is expected to validate CareView's economic model and lead to further large agreements in the near future, enhancing patient safety and operational efficiency within PIH Health's network.
- Execution of a three-year agreement with PIH Health enhances market reach.
- Incorporation of advanced technology expected to improve patient safety.
- New revenue model shifts financial burden upfront, potentially stabilizing cash flow.
- None.
CareView Communications, Inc. ("CareView" or the "Company") (OTCQB: CRVW), an information technology provider to the healthcare industry, today announced the execution of a hospital agreement with PIH Health and its three California hospitals, PIH Health Whittier Hospital, PIH Health Downey Hospital and PIH Health Good Samaritan Hospital . With more than 7,500 employees, more than 1,130 licensed beds, and 28 outpatient clinics, PIH Health’s nonprofit, regional healthcare network serves more than 3.7 million residents in Los Angeles and Orange Counties and throughout the San Gabriel Valley, CA. The agreement for installation of CareView’s Patient Safety System includes CareView’s latest Gen 5 hardware and software offering.
The three-year agreement with PIH Health was executed pursuant to the Company’s new revenue model following the expansion and modernization of its platform, which platform includes a variety of camera solutions specifically designed to address clinical needs in general safety, applications for use in ICUs, behavioral health settings, and negative pressure COVID-19 units. Our 2-way audio and video platforms are fully enabled for use in virtual nurse applications and telemedicine.
Steven Johnson, CareView's President and Chief Executive Officer, stated, “We are excited to announce this substantial agreement with PIH Health, which we believe is an important validation of our new economic model in which hospitals pay for hardware upfront and then license the software on an annual basis. We are working closely with other hospital groups and believe this agreement with PIH Health will be the first of numerous large agreements that will be executed in the near future. We look forward to working with PIH Health as they continue to deliver excellent care to their patients.”
About CareView Communications, Inc.
As a leader in turnkey patient video monitoring solutions, CareView is redefining the standard of patient safety in hospitals and healthcare facilities across the country. For over a decade, CareView has relentlessly pursued innovative ways to increase patient protection, providing next generation solutions that lower operational costs and foster a culture of safety among patient, staff and hospital leadership. With installations in more than 150 hospitals, CareView has proven that its innovative technology is creating a culture of patient safety where patient falls have decreased by
About PIH Health
PIH Health is a nonprofit, regional healthcare network that serves approximately 3.7 million residents in the Los Angeles County, Orange County and San Gabriel Valley region. The fully integrated network is comprised of PIH Health Downey Hospital, PIH Health Good Samaritan Hospital, PIH Health Whittier Hospital, 28 outpatient medical office buildings, a multispecialty medical (physician) group, home healthcare services and hospice care, as well as heart, cancer, digestive health, orthopedics, women’s health, urgent care and emergency services. The organization is recognized by Watson Health as one of the nation’s Top Hospitals, and College of Healthcare Information Management Executives (CHIME) as one of the nation’s top hospital systems for best practices, cutting-edge advancements, quality of care and healthcare technology. PIH Health is also certified as a Great Place to WorkTM. For more information, visit PIHHealth.org or follow us on Facebook, Twitter, or Instagram.
Forward Looking Statements
Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.
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