Novo Integrated Sciences’ Subsidiary, Clinical Consultants International, Signs Sales & Consulting Agreement with Tranquility Lifestyle Solutions

Rhea-AI Summary

Novo Integrated Sciences (NASDAQ: NVOS) has announced a partnership with Tranquility Lifestyle Solutions (TLS) through a Sales and Consulting Agreement that includes revenue-sharing potential. This agreement aims to enhance home care for seniors using TLS's advanced technology platform, which integrates 4D radar sensors for fall detection and vital sign monitoring. The partnership has initiated two pilot projects with U.S. senior housing networks and a tertiary care hospital. This collaboration aligns with Novo's holistic approach to patient-first health and wellness.

Positive

• Partnership with Tranquility Lifestyle Solutions can enhance senior care technology.
• Potential for revenue-sharing through the Sales and Consulting Agreement.
• Launch of two pilot projects indicates practical application and collaboration.

Negative

• None.

Tranquility’s technology platform enhances the overall level of care and data integration of Home Care for seniors

Tranquility’s technology is complementary to Novo’s holistic approach to patient-first health and wellness

BELLEVUE, Wash.--(BUSINESS WIRE)-- Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or “Novo”), and Clinical Consultants International (‘CCI’), a Novo wholly-owned subsidiary, today announced the signing of a Sales and Consulting Agreement (the “Agreement”), which includes revenue-sharing potential, with Tranquility Lifestyle Solutions, Inc. (‘TLS’), a company that has developed a technology platform to add a new dimension to both senior wellness and senior wellbeing, alongside keeping family members or care associates fully informed of detected abnormalities within an extremely responsive time frame, which is complimentary to Novo’s holistic approach to patient-first health and wellness.

The TLS platform links Vayyar 4D radar fall detection sensors and a host of other 4D radar and IOT devices, within a senior’s home-based or senior community living environment, to the cloud-based TLS platform. The TLS platform uses machine learning and AI-based algorithms to generate alerts that are sent to the mobile applications of family members or care associates. When an abnormality is detected, a push notification is dispatched to the relevant mobile devices within 90 seconds, which allows for medical assistance to be deployed in a timely fashion. In addition, the TLS platform also covers vital sign monitoring, presence detection, and cognitive enhancement without the use of cameras, listening devices, wearables, or personal activation.

Dr. Joseph M. Chalil, MD, MBA, FACHE, Chief Medical Officer of Novo, stated, “We are very pleased to partner with Tranquility Lifestyle Solutions and its leadership team to introduce the TLS platform to CCI’s vast network of health care providers and medical centers. To date, CCI’s successful collaboration with Tranquility has already resulted in the launch of two separate pilot projects with a U.S.-based Senior Housing Network and a U.S. Tertiary Care hospital’s “Smart ICU Pilot.”

About Tranquility Lifestyle Solutions

Established in 2018, TLS provides customized solutions for the provision of high-quality Home Care for seniors, either living independently or in residential care facilities, through innovative “Intelligent Serviced Technology” that allows remote primary caregivers a supportive insight into the routines, well-being, and security of their loved with TLS’ separate platforms.

TLS’s Fall Detection Technology is based on non-intrusive and non-invasive 4D Radar Sensors which, through our communication platforms, provides rapid notifications and allows for early intervention when falls occur. Smart, discreet, and touchless, the TLS platform ensures instant protection, enhanced safety, and monitored wellbeing for Seniors. At the core of our 4D imaging radar solutions is an advanced and highly integrated 4D imaging Radar-on-Chip (RoC), with all digital and analog RF components on board. These components include an integrated Digital Signal Processor (DSP) and an MCU for complex signal and image processing. In addition, working in conjunction with the Neteera Respiratory Module, the TLS platform can deploy a unique sensing capability that can interpret prominent vital signs such as heart rates and respiratory rates. This sensing competence then interacts with the TLS platform to extract a collection of data that in turn, can inform individuals of personal well-being trends. For more information on TKS, please visit www.tls.global

About Clinical Consultants International LLC

Established in 2006 in Michigan as a hospital consulting firm, today Clinical Consultations International is a global consulting firm specializing in providing value-added services for the pharmaceutical, biotech, healthcare management, hospital management, medical marketing and strategic planning, health policy, and medical device sectors. Headquartered in Boca Raton, Florida, we leverage 30+ years of industry experience and our expert consultants worldwide to support our clients. For more information on CCI, please visit www.ccimia.com

About Novo Integrated Sciences, Inc.

Novo Integrated Sciences, Inc. is pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of multiple patient and consumer touchpoints for services and product innovation. Novo offers an essential and differentiated solution to deliver, or intend to deliver, these services and products through the integration of medical technology, diagnostic and therapeutic solutions, and rehabilitative science.

We believe that “decentralizing” healthcare, through the integration of medical technology and interconnectivity, is an essential solution to the rapidly evolving fundamental transformation of how non-catastrophic healthcare is delivered both now and in the future. Specific to non-critical care, ongoing advancements in both medical technology and inter-connectivity are allowing for a shift of the patient/practitioner relationship to the patient’s home and away from on-site visits to primary medical centers with mass-services. This acceleration of “ease-of-access” in the patient/practitioner interaction for non-critical care diagnosis and subsequent treatment minimizes the degradation of non-critical health conditions to critical conditions as well as allowing for more cost-effective healthcare distribution.

The Company’s decentralized healthcare business model is centered on three primary pillars to best support the transformation of non-catastrophic healthcare delivery to patients and consumers:

• First Pillar: Service Networks. Deliver multidisciplinary primary care services through (i) an affiliate network of clinic facilities, (ii) small and micro footprint sized clinic facilities primarily located within the footprint of box-store commercial enterprises, (iii) clinic facilities operated through a franchise relationship with the Company, and (iv) corporate operated clinic facilities.
• Second Pillar: Technology. Develop, deploy, and integrate sophisticated interconnected technology, interfacing the patient to the healthcare practitioner thus expanding the reach and availability of the Company’s services, beyond the traditional clinic location, to geographic areas not readily providing advanced, peripheral based healthcare services, including the patient’s home.
• Third Pillar: Products. Develop and distribute effective, personalized health and wellness product solutions allowing for the customization of patient preventative care remedies and ultimately a healthier population. The Company’s science-first approach to product innovation further emphasizes our mandate to create and provide over-the-counter preventative and maintenance care solutions.

Innovation through science combined with the integration of sophisticated, secure technology assures Novo Integrated Sciences of continued cutting-edge advancement in patient first platforms.

For more information concerning Novo Integrated Sciences, please visit www.novointegrated.com. For more information on Novo Healthnet Limited, Novo’s wholly owned subsidiary, please visit www.novohealthnet.com

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," “intend,” "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks, and uncertainties are discussed in Novo’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond Novo’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Novo’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Novo assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced in this press release are not incorporated by reference herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025005346/en/

Chris David, COO & President 

Novo Integrated Sciences, Inc. 

chris.david@novointegrated.com 

(888) 512-1195 

Source: Novo Integrated Sciences, Inc.

FAQ

What is the partnership between Novo Integrated Sciences and Tranquility Lifestyle Solutions?

Novo Integrated Sciences has signed a Sales and Consulting Agreement with Tranquility Lifestyle Solutions to enhance home care for seniors.

How does Tranquility's technology improve senior care?

Tranquility's platform uses 4D radar sensors for fall detection and vital sign monitoring, facilitating timely alerts to caregivers.

What are the pilot projects initiated by Novo and Tranquility?

The partnership has launched two pilot projects within a U.S. senior housing network and a tertiary care hospital's Smart ICU.

What is the significance of the revenue-sharing potential in the agreement?

The revenue-sharing potential indicates a strategic financial benefit for Novo as they expand their service offerings through the partnership.