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Sep 21, 2016 7:48 EST

Crowdability: CareSentinel – Technology Solutions for Caregivers

iCrowdNewswire - Sep 21, 2016

CareSentinel

logo

Technology Solutions for Caregivers

COMPANY INFORMATION

Website:

http://www.loonmedical.com/

Sector:

Medical Devices & Equipment

Location:

Tolland, CT

CareSentinel offers integrated solutions of home sensors and corresponding Smart Phone and Tablet Applications.

The company presents its system as “The Caregiver’s Helper,” providing an early warning to caregivers when a resident gets up from a bed, chair, or toilet, or exits a room or house.

The design, engineering, and manufacturing of its core system is complete. FDA and FCC approvals have been received, and units are in stock. Pilot Sales commenced through an Amazon and eBay campaign in December 2015.

CareSentinel products address three areas of importance: Security, Caregiving Efficiency and Cost.

CareSentinel technology is affordable, easy to install, and allows the patient to reside in their own home under the care of friends and family.

CareSentinel products offer the caregiver the ability to deliver the highest level of care while affording the caregiver the most freedom to conduct their daily activities. It’s “like standing by the bedside.”

The integrated and extensive sensor package includes; occupancy, incontinence, toilet, wandering, and physiological data collection.

The system offers an optional cloud database, CareCloud, that provides important information as to the patients’ health for the medical provider and caregivers. Sensors placed in a patient’s home relay real-time information to a caregiver’s smartphone or tablet leveraging existing mobile devices.

Messages can also be sent to other family members via SMS which expands the range of the caregiver.

The CareSentinel CareCom Medical Alert Monitoring device is a low cost alternative to more costly “user fee” based products such as Life Alert1, Lifeline2 and Alert13.

CareSentinel is the only product of its kind that offers a ‘total-home’ monitoring solution that’s also suitable for institutional settings.

CareSentinel increases efficiencies and reduces costs for patients, caregivers, insurance companies and hospitals, and provides a multi-channel opportunity for revenues and growth.

* Hospitals need systems and data to address the root cause of costly hospital readmission rates: poor follow-up care. Relevant real-time information provided by CareSentinel helps lower readmission rates to prevent Medicare payment reductions.

* Companion Care Agencies and Elder Care Facilities are demanding products that can aid and assist their staff, provide better security and care, in turn increase efficiencies while lowering costs.

* Patients benefit from better care from lower co-payments and a better quality of life.

* Families choosing to provide care on their own represent a growing consumer market for such products.

Business Model: The business model includes revenues from direct sales of CareSentinel® and CareCom™ to Caregiver Agencies, Care Institutions and Hospitals.

It also includes direct sales to patients and families through DMEs and online platforms like Amazon and eBay.

Ancillary revenue streams include on-going medical information and analytic support and monitoring services through the CareCloud™ platform.

TEAM BACKGROUND

Joel Douglas – Co-Founder & CEO

Prior to Loon, Mr. Douglas was Chief Technology Officer (CTO) of Engineered Carbon Solutions (ECS) – a company that commercialized a hybrid pellet for the stove market.

Prior to ECS, he co-founded Simplified Energy Solutions (SES) and was CTO of Mystic Technology Partners which merged with SES. SES has launched Solar Thermal Applications, SafeShip Li-ion batteries and has grown sales in the public sector market.

Before that, Mr. Douglas founded two medical device companies: Amira Medical, developer of the first alternative site glucose meter; and Sterling Medications, developer of a series of insulin delivery devices.

He has also assisted the development of HDH Technologies for SaniChek products sold by Simoniz.

Mr. Douglas earned his B.S. in Civil Engineering from UConn and an M.S. in Computer and Information Science from the University of New Haven.

He was honored by the UConn School of Engineering in 2005 when he was inducted into the Academy of Distinguished Engineers.

He has 95 granted US patents and has written 29 FDA 510(k) clearances.

Michael Curtis – Co-Founder & CMO

Michael has co-founded a number of startups companies.

With Joel Douglas, he founded Engineered Carbon Solutions, creators of an innovative fuel product for use in home and facility space heating; and Simplified Energy Solutions (SES), a product development and alternate energy implementation firm.

Before SES, Dr. Curtis was Executive VP at Fuss & O’Neill, a 280 person engineering company. His role evolved from Project Manager in the Industrial Services Group to Director of Strategic Development, leading the firm in new ventures and startups.

He earned his B.S. in Biology from University of Connecticut, where he also earned his Masters and PhD in Environmental Engineering.

Steven Hanks, MD – Chief Scientific Offiver

Steven is the former executive vice president and chief medical officer of the Hospital of Central Connecticut (HCC).

Keith Ignotz – Chairman

Kieth is the Founder & COO of Freedom Meditech, Inc, and former President & CEO of DiaKine Therapeutics.

CO-INVESTORS

CT BioScience Innovations Fund

State fund to drive innovation in the biosciences throughout Connecticut by providing focused financial assistance to startups, early stage businesses, non-profits and accredited colleges and universities. Connecticut Innovations will make investments from the $200 million fund over the next 10 years in the form of grants, equity investments and loans to speed commercializable bioscience breakthroughs toward the market.

 

 

Contact Information:

Joel Douglas - Co-Founder & CEO

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