CareView Communications to File Form 10-K Later Than Extended Deadline

Rhea-AI Summary

CareView Communications, Inc. (OTCQB: CRVW) announced it could not file its Annual Report on Form 10-K for the year ending December 31, 2022, within the provided timeframe under Rule 12B-25. The Company requires additional time to finalize certain disclosures and analyses for the Report. CareView, a leader in patient video monitoring solutions, has been instrumental in enhancing patient safety across over 150 hospitals, reportedly reducing patient falls by 80% and sitter costs by 65%. The company focuses on innovative technology to foster a culture of safety, optimizing operational costs in healthcare facilities. CareView aims to file the delayed Report as soon as possible, emphasizing a commitment to transparency and compliance.

Positive

• CareView's patient video monitoring solutions have led to an 80% reduction in patient falls.
• Sitter costs have been decreased by over 65% in hospitals utilizing CareView's technology.
• The company has installations in more than 150 hospitals, highlighting its market penetration.

Negative

• CareView failed to file its Annual Report on Form 10-K by the deadline, indicating potential compliance issues.

LEWISVILLE, Texas--(BUSINESS WIRE)-- CareView Communications, Inc. (“CareView” or the “Company”) (OTCQB: CRVW), an information technology provider to the healthcare industry, was unable to file its Annual Report on Form 10-K for the year ended December 31, 2022 (the “Report”) within the extended time period provided in accordance with Rule 12B-25 promulgated under the Securities Exchange Act of 1934, as amended. Additional time is needed to complete certain disclosures and analyses to be included in the Report, and therefore, the Company intends to file the Report as soon as possible.

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 80% with sitter costs reduced by more than 65%. Anchored by the CareView Patient Safety System, this modular, scalable solution delivers flexible configurations to fit any facility while significantly increasing patient safety and operational savings. All configurations feature HD cameras, high-fidelity 2-way audio/video, LCD displays for the ultimate in capability, flexibility, and affordability. Corporate offices are located at 405 State Highway 121 Bypass, Suite B-240, Lewisville, TX 75067. More information about the Company and its products and services is available on the Company’s website at www.care-view.com.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230418005413/en/

Steven G. Johnson

President and Chief Executive Officer

CareView Communications, Inc.

(972) 943-6050

Source: CareView Communications, Inc.

FAQ

Why couldn't CareView Communications (CRVW) file its 10-K report on time?

CareView Communications was unable to file its Annual Report on Form 10-K for the year ending December 31, 2022, due to the need for additional time to complete certain disclosures and analyses.

What impact does CareView's delayed filing have on its stock?

The delayed filing could raise concerns about the company's compliance and operational transparency, potentially impacting investor confidence and stock performance.

What are the financial metrics reported by CareView Communications?

In its operations, CareView reported an 80% reduction in patient falls and a 65% decrease in sitter costs in facilities utilizing its services.

How does CareView Communications enhance patient safety?

CareView enhances patient safety through its innovative video monitoring solutions, with installations in over 150 hospitals that significantly reduce patient falls and related costs.