LAUNCHES MY+CARE™, FIRST END-TO-END, CLOUD-BASED ELDER CARE SYSTEM
Health Invest Finland Oy Raises $1.5 Million From Kuus Invest Oü, Viavan Oy, and European Business Angels; Announces First Living Lab Installations.
HELSINKI – Health Invest Finland Oy, a digital healthcare, firm, today announced the close of its latest round of funding, a $1.5 million round led by Finnish funds Kuus Invest Oü, Viavan Oy, and European business angel investors.
Health Invest has recently begun the initial global installations of its My+Care™ (MyPlusCare) cloud-based health and wellbeing service solution, which will initially be positioned for the elder care market. Health Invest is already operating in Europe and Asia, and is expanding in the US market this year. The company plans has 2018 expansion plans for China. Health Invest is targeting a global market for Internet of Things (IoT) healthcare tech and devices that is predicted to increase to $162.9 billion by 2020.
The initial My+Care™ living labs have installed a system that connects all patient data, including movements and vital signs, through a network that involves caregivers, family members, and related partners. My+Care™ employs patented artificial intelligence (AI), machine learning, and IoT solutions to enable exponentially greater intelligence in decision-making and action. Health Invest will deploy Big Data solutions to deliver real-time care; with My+Care™ Smart Data, for example, many critical injuries and incidents can be prevented, and healthcare resources are more efficiently allocated.
Based on patented innovations from Mostafa Hanifi, the chief technology officer of Health Invest, My+Care™ is a networked system that receives patient data from proprietary wristbands and smart wireless beacons that are networked to caregivers through a mobile app that details personalized reports to a network that can include hospitals, relatives, companies, doctors and clinics, and others. Using the My+Care™ Cloud, facilities can manage networked communication in real-time. The My+Care™ service-solution is designed with machine learning algorithms that can deliver predictive care, based on personalized data. Unlike competitors’ solutions, My+Care’s AI algorithms learn over time, creating smarter decisions and detecting patient abnormalities.
“The sign of a civilized society is how well it treats its weak and elderly citizens. We live in a world that cannot accommodate an aging population without adapting healthcare to readily available technology. The value of elder care, globally, needs to rise to meet a rapidly growing set of demands for more effective real-time care,” said Kalle Soderholm, CEO of Health Invest. “The development of our My+Care™ service-solution is specifically aimed at treating the needs of all stakeholders in the elder care market with an intelligent set of tools that can learn and adapt dynamically to the needs of patients and health organizations.
According to the United Nations Department of Economic and Social Affairs, the number of elder persons (aged 65 years or over) is expected to more than double from 841 million people in 2013 to more than 2 billion in 2050. More than $30 billion is spent annually in the US on healthcare related to falls, which is the leading cause of death due to injury among the elderly.
The My+Care™ service-solution is comprised of several key patented technologies and innovations from Health Invest, including: smart wristband that is dust and water resistant which integrates pedometer, accelerometer, and body temperature sensor; indoor and outdoor connectivity and location sensing, using GSM/GPRS/Bluetooth Low Energy (BLE) beacons; integrates long-life battery, lasting one week outdoor and one month indoor dashboard which provides a planning and workflow tool so that patient’s locations and safety parameters are established, including alert notifications when patients exit a safe zone BLE beacon, which covers 50-75 square meters of indoor area, and 500-700 meters of outdoor area. The BLE beacon significantly extends the battery life of the wristband, due to more efficient energy data transport.
HOW IT WORKS
My+Care™ enables health care providers to transfer information from third-party devices securely through an ecosystem that can be controlled by the healthcare facility. With higher complexities in healthcare systems globally, My+Care™ offers an end-to-end ecosystem that has a reasonable cost associated with personalized care.
My+Care™ enables diverse, flexible IoT interaction of all Bluetooth devices within third-party IT environments. With machine learning, My+Care can learn from each specific user; the longer the wristbands are used, the more accurately they detect irregularities in human behavior or subtle changes that could indicate an underlying medical issue.
My+Care™ works this way:
a tailored agreement is initiated customers receive the hardware (wearable device/beacon) and password to My+Care™ ecosystem customers receive log-in to the cloud-based My+Care™ administration panel and insert all personal information of users (care professionals, their customers, and relatives) customers receive all critical alerts from patients. Information is secured and is completely personalized.
ABOUT HEALTH INVEST:
Founded in 2014, Health Invest develops and deploys intelligent technologies and solutions for intelligent healthcare delivery. The company’s patented innovations are based on the founders’ decades of experience in the development of advanced wireless systems. Health Invest has created a service-solution, My+Care™ that leverages AI and IoT technologies. Based in Helsinki, Finland, Health Invest operates in Europe, Asia, and has expansion plans for North America. For more information, visit www.healthinvest.fi and www.myplus.care. My+Care™ – The Heart of Personalized Care.