Healthcare Integrated Technologies Receives Notice from USPTO Allowing SafeSpace™ Trademark

Rhea-AI Summary

Healthcare Integrated Technologies Inc. (HITC) has received trademark approval from the USPTO for its brand “SafeSpace”, aimed at enhancing its marketing of remote sensing and monitoring solutions tailored for senior living. CEO Scott Boruff emphasized the significance of this trademark in promoting the safety and reliability of their offerings. The firm continues to develop innovative products, including a flagship AI-driven fall detection system without wearables, addressing the $34 billion annual medical costs associated with falls in senior facilities.

Positive

• Trademark approval for 'SafeSpace' enhances branding and marketing potential.
• Development of AI solutions like SafeSpace Fall Detection that improve care quality and safety.

Negative

• None.

Trademark approved for “Medical alarm monitoring services for senior living in Class 45”

Knoxville, Tennessee, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Healthcare Integrated Technologies Inc. (“HITC”), a digital health enterprise monitoring solutions provider for the senior care field today announced receipt of notice from the United States Patent and Trademark Office (USPTO) advising approval of U.S. Application Serial No. 90609625, for the trademark “SafeSpace.”

“This allows us to more actively invest in the branding and marketing of our unique remote sensing and monitoring products and services to our business customers in the senior lifestyle and senior living field,” commented Scott Boruff, CEO. “SafeSpace’ sums up the improved reliability, safety, and security our services provide to our senior living clients and their residents.”

For background on our intellectual property (IP) efforts, in mid-2021, HITC built upon its initial ten patent filings through an additional five patent applications in the fields of senior care, remote sensing and monitoring innovations.

For real-time email alerts regarding HITC stock updates, press releases and/or SEC filings, investors are encouraged to sign up at https://investors.gethitc.com/resources/email-alerts/.

About Healthcare Integrated Technology

Healthcare Integrated Technologies, Inc. (HITC) develops and commercializes artificial intelligence (AI) and Internet of Things (IoT) enterprise solutions designed to improve care quality, safety and costs for the senior care and healthcare providers fields.

In a period of acute staff shortages and pathogen transmission concerns, our flagship service SafeSpace^™ Fall Detection with AI Vision^™ provides 100% ambient detection (no wearables required) with HIPAA compliant, resident monitoring and data reporting that facilitates faster fall response at scale and care with superior reliability and safety.

Also in development is “activities of daily living” (ADL) sensing for continual health monitoring and data supporting interventions and other predictive health analytics capabilities.

Fatalities in senior assisted living facilities result more from falls than from any other cause, resulting in $34 billion of direct medical costs in the U.S. annually, with an average emergency room cost of $12,000 per fall.

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 a guarantee 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 does the trademark approval for 'SafeSpace' mean for HITC?

The trademark approval allows HITC to strengthen its branding and marketing strategy for its remote monitoring solutions in the senior living sector.

How does the SafeSpace Fall Detection system work?

The SafeSpace Fall Detection system uses AI Vision technology to provide 100% ambient monitoring without the need for wearables, ensuring faster response times in emergencies.

What are the expected impacts of falls in senior living facilities?

Falls in senior living facilities lead to significant medical costs, totaling about $34 billion annually in the U.S., highlighting the importance of HITC's solutions.

When was the trademark for 'SafeSpace' approved?

The trademark was approved as of January 5, 2022.

What is HITC's focus in the healthcare technology market?

HITC focuses on developing AI and IoT solutions to enhance care quality, safety, and efficiency for senior care providers.