Movement Interactive, Powered by Iveda, Awarded Subcontract for the Veterans Affairs Remote Patient Monitoring Contract

IvedaCare and IvedaAI solutions will equip veterans homes and VA facilities with telehealth and fall detection technology, incorporated into existing infrastructure

MESA, Ariz.--(BUSINESS WIRE)-- Iveda® (NASDAQ:IVDA), the global solution for cloud-based AI, today announced that Movement Interactive, powered by Iveda, has been named as a subcontractor in an eight-year Veterans Affairs contract worth $1.032 billion. Through this subcontract, Iveda and Movement Interactive will effectively support 72,000 veterans aging in place across the United States with AI and IoT-enabled telehealth and fall detection technology––through HIPAA-compliant IvedaCare and IvedaAI––to support the ongoing care, health, and safety of patients.

With over 9.7 million Veterans in the United States, more than 44 percent of this population is 65 or older. Further, according to the Military Times, the number of veterans ages 75+ using veteran healthcare is expected to reach three million within the next decade. As the aging veteran population continues to increase, so will the level of care needed to accommodate those who have served the nation. Access to Iveda’s suite of AI capabilities will provide VA healthcare personnel with crucial situational awareness and accurate, by-the-second information, while simultaneously collecting data from patients to improve ongoing care.

“Our partnership with Movement Interactive continues to reach new heights through this VA subcontract,” said Iveda CEO and founder, David Ly. “Iveda believes that our veterans deserve access to quality, tech-enabled care. Our proven track record of providing AI technology to patients and caregivers alike ensures the utmost confidence that ongoing care will be administered and improved upon in real time. It’s fantastic to see the U.S. government investing in updated technology infrastructure, all in the interest of bettering our veterans and senior care.”

Under Valor Healthcare––the prime contractor to the VA in charge of managing the contract––Movement Interactive and Iveda’s powerful AI solutions will continue to be drivers in the healthcare industry. IvedaCare and IvedaAI––along with telemedicine solutions at VA facilities and utilized by vets aging at home––will help address major concerns for both patients and staff. IvedaCare’s robust AI technology provides caretakers with bot-enabled ambient fall detection, medication adherence monitoring, real-time location monitoring capabilities, and more––all easily accessible via mobile app. The technologies will also act as a force multiplier for short-handed care providers, providing real-time awareness of patient abnormalities and allowing for more effective care and patient monitoring, especially critical under resource constraints.

“As more veterans choose to age at home, the need for patient monitoring technology is becoming more critical than ever,” added Dr. Eric Luster, CEO at Movement Interactive. “Iveda’s robust roster of AI and IoT technologies is providing veterans and caregivers alike with unmatched peace of mind, knowing real-time alerts can be transmitted to the appropriate parties and immediate and informed action can be taken. Our goal is to simultaneously monitor the well-being of our veterans while also enabling their independence. Movement Interactive, powered by Iveda, is grateful to be trusted with the subcontract and will use these funds to continue supporting our nation’s finest.”

Outside of the VA contract, Movement Interactive, powered by Iveda, received the initial PO from Seniors Rising to deploy HIPAA-compliant IvedaCare and IvedaAI solutions to service aging adults that are in need. Movement Interactive will equip 150 households with IvedaCare and IvedaAI, in addition to public areas, by leveraging existing video cameras on the properties. Movement Interactive’s network of senior living communities includes approximately 4,000 sites across the country, all aiming to achieve high levels of care for residents. This initial deployment with Seniors Rising will serve as a working model for other healthcare institutions to follow as they implement AI for aging individuals.

About Iveda Solutions®

Iveda (NASDAQ:IVDA) is the provider of global solutions for cloud-based, video AI search and surveillance technologies that protect the people, places, and things that matter the most. Iveda’s technology has the power to provide instant intelligence to existing infrastructure, enabling cities and organizations around the world to seamlessly enter the fifth industrial revolution. Iveda operates at the forefront of digital transformation of cities across the world, using IoT platforms with smart sensors and devices developed to aid with use cases surrounding public safety, security, elderly care, energy efficiency, and environment preservation. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA.”

About Movement Interactive

Movement Interactive Inc.’s mission is to enable longevity by addressing current health concerns and preventing future problems. Movement Interactive has developed the patented Hiji^®Sense; a sock-worn wearable sensor. The Hiji^®Sense is a fall-detection and fall-prediction device and enables at-home and in-residence safety of end users. The Movement Interactive portfolio also consists of wearable sensors for the detection of head impacts in athletes and the military, a mobile application which provides users with critical impact-related information and a delivery system through compression gear, called ‘RecoFit’. Movement Interactive is a Service-Disabled Veteran Owned Small Business (SDVOSB) committed to person-centered design and is headquartered in Phoenix, Arizona.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230622442572/en/

Olivia Civiletto Erwin

olivia@dottedlinecomm.com

617.477.9857

Nipun Chopra

nipun@movement-interactive.com

1-888-585-9311

Source: Iveda Solutions