Generex Biotechnology Subsidiary NuGenHealth Contracts with Florida Health Care Associates to Provide Remote Patient Monitoring (RPM) Services
Generex Biotechnology Corporation (OTCQB:GNBT) announced that its subsidiary, NuGenHealth, has secured a contract with Florida Health Care Associates to implement a Software as a Service (SaaS) platform for Remote Patient Monitoring (RPM). This collaboration will enhance patient engagement by offering tools to monitor health data, ultimately aiming to improve outcomes and reduce hospitalizations. The agreement includes supplying connected medical devices and training for healthcare staff, positioning NuGenHealth for growth in RPM services following increasing demand from the pandemic.
- Contract secured with Florida Health Care Associates to provide RPM services.
- Promotes patient engagement and timely medical interventions, potentially reducing hospitalizations.
- Includes supply of connected medical devices for patient monitoring.
- None.
- NuGenHealth Software as a Service (SaaS) platform that enables their clients to monitor the health and wellbeing of their patient population.
- Florida Health Care Associates is a professional corporation that engages medical providers who are duly licensed in Florida to provide primary care and RPM services (http://www.floridahealthcareassociates.com/home.htm)
MIRAMAR, Fla., May 06, 2021 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (“Generex” or the “Company”), an innovative and integrated healthcare holding company with end-to-end solutions for patient centric care including the development of its innovative “Complete Vaccine” to fight SARS-CoV-2, announces today that its subsidiary NuGenHealth has signed a contract with Florida Health Care Associates (FHCA) to provide connected care solutions for patient engagement and Remote Patient Monitoring (RPM) services. NuGenHealth, a joint venture between Generex subsidiary NuGenerex Health and Worldwide Digitech, LLC (WWDT) will provide the software, data framework and back-end support for the NuGenHealth SaaS system to advance collaborative, connected care in order to improve patient health outcomes for patients under the care of FHCA.
The NuGenHealth system offers direct savings to physicians and healthcare organizations both in time and money, allowing the healthcare team to monitor patient progress outside the practice office, leading to timely interventions and early identification of disease progression that may prevent unnecessary hospitalizations. The SaaS system utilizes automated algorithms, real-time data, and quality metrics to involve patients in their own care, while keeping healthcare providers and family constantly informed.
RPM is the use of digital technologies to monitor and capture medical/health data from patients and electronically transmit the information to their providers for assessment, recommendations, and instructions. Providers use RPM to collect a wide range of patient data, including blood pressure, weight, heart rate, and blood sugar levels.
Under the terms of the agreement, NuGenHealth will provide the SaaS system and implementation, personnel training, and system oversight to optimize workflows for RPM and to collect, analyze, and report real-time patient data. NuGenHealth will also supply FHCA with Bluetooth connected blood pressure monitors, electronic scales, glucose monitors, and pulse oximeters for their eligible patient population. In collaboration with and assistance from the NuGenHealth implementation team, FHCA will implement the NuGenHealth SaaS suite on site, handle the initial onboarding of patients, train their patients on the use of the monitoring devices, and manage the day-to-day monitoring of their RPM patient population.
SunJay Kumar, President of NuGenHealth (A Subsidiary of Generex Biotechnology Corp.) said, “We are very excited to launch NuGenHealth with our physician partners at Florida Health Care Associates, managers of one of the largest primary care practices in the South Florida region. The NuGenHealth SaaS system is now being installed at two major primary care centers using their simple implementation process that will enable us to rapidly enroll patients at FHCA and at our other site in Arizona. Remote patient monitoring is a service that was positioned for significant growth as the pandemic has accelerated the practice of remote patient monitoring to improve outcomes. We are excited to launch our NuGenHealth SaaS program, and we look forward to continued expansion of our RPM business with the announcement of additional contracts in the next several weeks.”
About Generex Biotechnology Corp.
Generex Biotechnology is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in a GPO network, and ongoing relationships with patients to improve the patient experience and access to optimal care.
Cautionary Note Regarding Forward-Looking Statements
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plan," "believes," "will," "achieve," "anticipate," "would," "should," "subject to" or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.
Generex Contact:
Generex Biotechnology Corporation
Joseph Moscato
646-599-6222
Todd Falls
1-800-391-6755 Extension 222
investor@generex.com
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