Healthcare Integrated Technologies, Inc. Provides Update on Fall Detection System

Rhea-AI Summary

Healthcare Integrated Technologies, Inc. (HITC) has expanded its partnership with Merrill Gardens Senior Living to install its SafeSpace™ with AI Vision™ fall detection technology in a second community. This move responds to the alarming statistic that 36 million seniors in the U.S. fall annually, resulting in over 32,000 deaths. The technology not only detects falls but enables root cause analysis to prevent future incidents, potentially reducing medical costs associated with falls, which exceed $50 billion yearly for non-fatal incidents. This development signals HITC's growth potential in the senior living sector.

Positive

• Expansion of technology into a second Merrill Gardens community signals growth potential.
• SafeSpace™ technology addresses a critical need in senior living, potentially reducing falls and associated costs.

Negative

• None.

Knoxville, Tennessee, June 02, 2021 (GLOBE NEWSWIRE) -- Healthcare Integrated Technologies, Inc. (“HITC”) is excited to announce the expansion of its strategic partnership with Merrill Gardens Senior Living. HITC will install its innovative SafeSpace^™ with AI Vision^™ fall detection technology in a second of Merrill Gardens’ seventy-two communities. The expansion highlights the value and benefits that SafeSpace^™ brings to senior living communities and is a clear indicator of HITC’s growth potential.

In the United States, 36 million seniors fall each year - resulting in more than 32,000 deaths annually. "Falls for seniors represent a significant risk to health and mortality, and our AI Vision^™ fall detection, which is designed specifically for senior living facilities, addresses that need in a very significant way," said Scott Boruff, Chief Executive Officer. Mr. Boruff continued, "The SafeSpace^™ system transmits a digital vision stream from the resident’s living space via a proprietary secured network to an on-site AI monitoring server which has been trained to detect and record fall events, and immediately send a message alert."

“Our technology goes beyond fall detection,” stated Ken Greenwood, Chief Technology Officer, “and enables communities to prevent future falls. We can review footage of the fall after the fact to perform a root cause analysis. The staff can then address the actual cause of the fall.”

When asked about the residents' reception to their product, Mr. Boruff answered, "There's a palpable excitement when we talk to the residents about it; they say things like 'Oh I need that’ and ‘can you install it in so-and-so's room down the hall because she's falling a lot.' They look out for themselves and each other and they see this as a way of doing that."

According to the Center for Disease Control and Prevention's website, falls among adults aged 65 and older are very costly. Each year about $50 billion is spent on medical costs related to non-fatal fall injuries and $754 million is spent related to fatal falls. HITC estimates that with their SafeSpace^™ with AI Vision^™ technology, residents and families will be able to reduce their emergency medical costs, reduce injuries, and extend their length-of-stays in facilities.

About Healthcare Integrated Technologies, Inc.

Healthcare Integrated Technologies, Inc. (OTCMKTS: HITC) is focused on developing effective, non-intrusive, resident monitoring technologies for senior living communities. Healthcare Integrated Technologies, Inc. is headquartered in Knoxville, Tennessee. More information on HITC can be found at www.getHITC.com.

Statements Regarding Forward-Looking Information

Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not guarantees of future activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as "believe," "expect," "anticipate," "intend," "plan," "should," "may," "will," "continue," "strategy," "position," "opportunity," statements regarding the "flexibility" of the Company or the negative of any of those terms or other variations of them or by comparable terminology. A discussion of these risk factors is included in the Company’s periodic reports filed with the U.S. Securities and Exchange Commission.

Contact:

Mr. Scott M. Boruff, CEO
(865) 237-4448

FAQ

What recent partnership did HITC announce?

HITC announced the expansion of its partnership with Merrill Gardens Senior Living, installing its SafeSpace™ technology in a second community.

How does SafeSpace™ with AI Vision™ technology benefit senior living communities?

The technology provides fall detection and root cause analysis to help prevent future falls and potentially reduce medical costs.

What are the statistics related to falls among seniors in the U.S.?

Annually, 36 million seniors fall in the U.S., resulting in more than 32,000 deaths.

What financial impact can SafeSpace™ technology have on families?

HITC estimates that SafeSpace™ can help reduce emergency medical costs and extend residents' length of stay in facilities.