FST.L Regulatory News (FST)

6 May 2008 07:03

Nanoscience Inc06 May 2008 Embargoed Release: 07:00hrs Tuesday 6 May 2008 Nanoscience Inc. ('Nanoscience' or the 'Group') Award winning product launch of MyAmegoTM Nanoscience, the specialist niche investor in emerging technologies with strongcommercial propositions for the healthcare and electronic sectors, is pleased toannounce that Sentinel Healthcare Solutions Limited ('Sentinel'), where theGroup is the largest shareholder with a fifty per cent interest, secured the2008 Best New Technology prize for its newly launched MyAmegoTM product on thelast day of the Naidex Exhibition at the Birmingham NEC. MyAmegoTM is a ground-breaking, patent-pending, cost effective assistivetelecare technology system. It enables care home operators specialising in thecare of people with dementia and other disabilities to deliver a better qualityof care through rigorous risk management procedures and also to constructpersonalised detailed assessments which directly relate to the individual. The privacy of the personal care and monitoring profile is decided by andmanaged with the individual and the independence of the person is protected atall times due to the personalistion of the individuals care plan which furtherallows carers and family to have quality, detailed and direct feedback on allaspects to the persons care. Using Sentinel's Sentinel:Monitor platform,dementia residents are monitored using their own electronic device, such as abracelet or necklace, and the data is captured via wireless monitors placedaround the care home in a mesh network. The service intelligently analyses theuser's environment in relation to the user's needs and automatically alertscarers for assistance when needed in addition to facilitating the adjustment ofcare plans through analysis reports of the user's activities. MyAmegoTM has successfully completed trials covering a number of conditions andboth private care homes and local authorities across the UK have activelyengaged in commercial discussions. The market size for registered dementiasufferers in the UK alone exceeds 750,000, with similar ratios to population inall developed countries. Sentinel is pleased to report that commercial interest regarding MyAmegoTM atNaidex, which is UK's largest event for homecare, disability and rehabilitation,was substantial and the company is vigorously pursuing domestic customercontacts. Overseas interest from Spain, France, the Netherlands, South Africa,India and the APAC (Asia and Pacific) region was also on record by the end ofthe event. Sentinel has signed an initial distributor to focus on the local UK healthauthorities and is in final negotiations with a further healthcare distributorwho, after purchasing a licence to market and sell MyAmegoTM, will target theprivate sector registered care homes. The Company will continue to explore further agency arrangements across the UKand overseas as it builds up its presence during 2008. In total there are more than 28,000 care homes in the UK Neil Bryant, general manager of Sentinel, commented 'Naidex was the start of transforming how people in care homes are treated andas the pressure to comply with the Mental Capacity Act and the 'telecare'requirements laid down by the UK Government, we are positioned to support allcare homes through this cheap and easily delivered solution.' Guy Spelman, chief executive officer of Nanoscience, commented: 'We are greatly encouraged by the level of interest Sentinel has received forMyAmegoTM and we believe the product and services it provides uniquely addressesthe requirements of care providers, people suffering from dementia and notforgetting their relatives, both from a legal, legislative and quality of carestandpoint. The Board is confident that the proven abilities of MyAmego's application cansuccessfully enter the UK care home market, which is worth over £10 billionannually, in addition to the ever-growing international care home market. Weanticipate the ease of use and cost effective abilities of MyAmegoTM will alsooffer numerous opportunities in other geographies and sectors in the future andwe look forward to benefiting from the immense value that we expect ourinvestment in Sentinel to achieve.' -Ends- Further Information: Guy Spelman Nanoscience Inc. 07767 338 967Vikki Krause Hansard Group 020 7245 1100 This information is provided by RNS The company news service from the London Stock Exchange