FARMINGTON, Conn., Could 25, 2023 /PRNewswire/ — Horizon Expertise Finance Company (NASDAQ: HRZN) (“Horizon”), a number one specialty finance firm that gives capital within the type of secured loans to enterprise capital backed firms within the know-how, life science, healthcare info and companies, and sustainability industries, introduced in the present day it has offered a $30 million enterprise mortgage facility to SafelyYou, Inc. (“SafelyYou”), of which $10 million has been initially funded.
SafelyYou has developed an progressive distant care platform that mixes real-time AI video know-how with a 24/7 distant scientific crew. Senior dwelling communities that make the most of SafelyYou’s know-how have significantly diminished resident fall charges and considerably lowered emergency room visits, leading to improved look after residents and diminished prices for senior dwelling operators. SafelyYou is backed by top-tier buyers together with Eclipse Ventures, Basis Capital, DCVC, Founders Fund, and Omega Healthcare Traders, Inc. SafelyYou will use the mortgage proceeds to additional its mission of elevating the standard of dementia care and making its progressive care accessible to extra folks.
“SafelyYou’s superior know-how supplies senior dwelling communities, residents and their households with a useful service that contributes considerably to enhancing look after these dwelling with Alzheimer’s and dementia,” stated Gerald A. Michaud, President of Horizon. “Along with rapidly detecting falls, SafelyYou allows caregivers to proactively forestall future falls by reviewing clear video of a fall occasion through a safe internet portal. We consider the advantages of this transformative know-how will result in its adoption in assisted dwelling and expert nursing services throughout the US. Horizon is happy to assist SafelyYou’s plan to develop by making its know-how extra broadly accessible.”
“We’re thrilled to obtain Horizon’s assist as we additional our mission to reshape dementia care, supporting these dwelling with Alzheimer’s, their households, and the communities that assist look after them,” stated George Netscher, founder and CEO of SafelyYou. “SafelyYou’s mixture of world-leading AI know-how and professional scientific assist imply on-site workers not solely see and perceive how falls occur, additionally they get insights into the way to preserve them from occurring once more. Because of this, communities are capable of present a degree of person-centered care by no means earlier than potential. The assist from Horizon signifies that higher-quality care will attain the next variety of residents.”
About Horizon Expertise Finance
Horizon Expertise Finance Company (NASDAQ: HRZN) is a number one specialty finance firm that gives capital within the type of secured loans to enterprise capital backed firms within the know-how, life science, healthcare info and companies, and sustainability industries. The funding goal of Horizon is to maximise its funding portfolio’s return by producing present revenue from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional workplace in Pleasanton, California, and funding professionals positioned in Austin, Texas, Chicago, Illinois, Reston, Virginia and Portland, Maine. To be taught extra, please go to www.horizontechfinance.com.
Originating in 2015 because the doctoral analysis of CEO George Netscher—and impressed by his family’s expertise with Alzheimer’s illness—SafelyYou was spun out of UC Berkeley’s Synthetic Intelligence Analysis Lab, one of many prime 5 AI analysis teams on the planet. The corporate’s passionate mission is to empower safer, extra person-centered dementia care by world-leading, real-time AI video know-how and 24/7 distant scientific specialists. SafelyYou is utilized by expert nursing services and assisted dwelling communities all throughout North America—from the biggest nationwide organizations to regional and native ones, too. SafelyYou is certainly one of 5 most progressive fall applied sciences referenced within the Senate Falls Report (2019).
SafelyYou provides a voice to these dwelling with Alzheimer’s and different types of dementia. Its AI-enabled cameras see crucial care moments in real-time through subtle synthetic intelligence. SafelyYou’s distant scientific specialists allow a degree of predictive, person-centered dementia care that solves a crucial downside throughout senior care by lowering falls and fall-related ER. For extra on SafelyYou, go to www.safely-you.com.
Statements included herein might represent “forward-looking statements” inside the which means of the Personal Securities Litigation Reform Act of 1995. Statements apart from statements of historic info included on this press launch might represent forward-looking statements and will not be ensures of future efficiency, situation or outcomes and contain numerous dangers and uncertainties. Precise outcomes might differ materially from these within the forward-looking statements because of numerous elements, together with these described on occasion within the Firm’s filings with the Securities and Change Fee. Horizon undertakes no responsibility to replace any forward-looking assertion made herein. All forward-looking statements communicate solely as of the date of this press launch.
SOURCE Horizon Expertise Finance Company