14 Jul 2008 07:00
Embargoed Release: 07:00hrs Monday 14 July 2008
Nanoscience Inc.
('Nanoscience' or the 'Group')
MyAmego™ Signs Second Distributorship Agreement
Nanoscience, the specialist niche investor in emerging technologies with strong commercial propositions for the healthcare and electronic sectors, is pleased to announce that Sentinel Healthcare Solutions Limited ('Sentinel'), where the Group is the largest shareholder with a 50 per cent interest, has signed a second distributorship agreement for its recently launched MyAmego™ product with Healthantec Ltd. ('Healthantec'), a marketing and distribution business. As part of this agreement, Healthantec is paying an upfront fee and going forward Sentinel will also receive a portion of the subscription revenues.
Under this exclusive contract, Healthantec, which specialises in innovative medical products, will sell the MyAmego™ system to the UK private care home and private hospital sector. MyAmego™ is a ground-breaking, patent-pending, cost effective assistive telecare technology system. It enables care home operators specialising in the care of people with dementia and other disabilities to deliver a better quality of care through rigorous risk management procedures and also to construct personalised detailed assessments, which directly relate to the individual.
According to Healthantec the top five largest care home providers own some 1,700 homes with around 90,000 beds across the UK, whereas the mid-tier market has around 2,900 homes with 130,000 beds. The company is currently in negotiations with a number of large operators in the private care home sector to install the MyAmego™ system in their residences.
Graham Wilson, chairman and chief executive officer of Healthantec, commented:
'I'm delighted we have signed an exclusive agreement with Sentinel to market and distribute the MyAmego™ system to the private care home and private hospital sector. This market is very extensive, however, to date, no system has successfully addressed the issue of using location and mobility as a means of supporting people with dementia and their carers in an unobtrusive manner; creating a care environment that can significantly improve wellbeing. MyAmego™ also addresses the issue of using monitoring technology arising from the Mental Capacity Act and it contributes to information/data requirements in care plans for CSCI (Commission for Social Care Inspection), which is responsible for inspecting care services. We expect numerous private care home and hospital operators, both large and small, to install MyAmego™.'
Guy Spelman, chief executive officer of Nanoscience, commented:
'We are very pleased that Sentinel has signed its second distributorship agreement; we believe Healthantec's meaningful relationships in this sector could produce valuable contracts and produce substantial revenues for Sentinel going forward. We are also greatly encouraged by the progress MyAmego™ has made since its launch in end-April, having recently signed a commercial contract with a local authority in Scotland, which is due to go live later this month. The two distributorship deals will help firmly establish Sentinel and its MyAmego™ product in the UK care home sector and we anticipate further overseas distributorship deals will soon follow.'
-Ends-
Further Information:
Guy Spelman
Nanoscience Inc.
Tel: 07767 338 967
Vikki Krause
Hansard Group
Tel: 020 7245 1100
About Sentinel Healthcare Solutions Limited:
Sentinel is an innovative intelligent healthcare solutions provider. The Company recently launched its MyAmego™ system, an intelligent assistive application for people with dementia that intelligently manages the care environment automatically notifying key workers/carers when service users are at risk.
The technology is centrally managed and hosted to remove any need for local technical expertise and provides :-
Reports on mobility of service users
Risk alerts via SMS, Mobiles or closed pager networks i.e. exit points alarms
The information is presented on a web interface providing data to reports and the capability to alert staff through mobile devices
The application utilises our Sentinel:Monitor platform which has been developed to interface to new and existing TeleCare hardware providing innovative products like My Amego.
The market size for registered dementia sufferers in the UK alone exceeds 750,000, producing annual revenues of over £10 billion, with all developed countries evidencing similar ratios to population.