Aged care specialist HomeStay Care (ASX: HSC) and mobile e-health company G Medical Innovations (ASX: GMV) have unveiled a partnership in which the duo plans to offer the next-generation of care for patients by boosting communication and remote monitoring capability.
In a statement to the market this morning, the two companies announced the execution of a non-exclusive distribution agreement that will see HomeStay integrating and distributing G Medical’s Prizma vital signs portal into its tech platform for at least 12 months.
The integration is designed to provide remote vital signs monitoring capabilities to HomeStay’s core uVue telehealth platform and 24-hour monitoring response centre, for aged care patients.
Prizma is a fully approved remote vital signs monitoring system, capable of working with a smart device to perform personal vital sign tests. So far, the device has been granted approval in several jurisdictions including the US, Australia, New Zealand, Europe and Taiwan.
The system is comprised of a mobile medical device, a smart device app, and a web portal that can relay test results to clinicians located at separate locations as well as being remotely shared with existing doctors and care teams.
Bridging the technology gap in aged care
According to HomeStay, aged care is a highly specialised niche within the broader healthcare market which has “significant challenges” with ensuring adequate communication capacity between elderly patients and doctors.
This is largely down to the existing lack of technological awareness by most seniors who prefer simple solutions such as television, as opposed to relatively sophisticated tools like email, smartphones and computers.
G Medical and HomeStay plan to revolutionise aged care support by rectifying existing shortfalls and integrating modern tech advancements into existing technology such as televisions.
The uVue system is a cloud-based telehealth platform that when connected to a TV, offers a simplified operating system with a single remote control.
HomeStay said the services provides four key features including entertainment, messaging, calendar, and telehealth features as standard.
According to HomeStay, its platform empowers users to access a range of entertainment options including TV, video, audiobooks, send messages to other users, access an automated calendar that displays vital appointments and events, as well as, remotely provide health services including medication management, social inclusion and doctor consults.
The entire service is pushed through to patients via their TVs with G Medical’s Prizma offering providing the ability to seamlessly connect vital sign information remotely with a simple to use device and interface.
“We have reviewed several solutions over the past few months with a focus on seamless integration to the uVue telehealth platform,” said HomeStay’s managing director Graham Russell.
“Usability being forefront in the aged care space, we feel that the Prizma platform exceeded our requirements, and we are looking forward to working with the G Medical team on the offering,” he said.
According to G Medical, the Prizma platform will be integrated with the uVue TV application to prompt residents daily to take their vital signs via on-screen messaging. These results are then stored in the cloud and if any adverse readings are detected by the system’s analytics, then the resident is “triaged by a 24-hour response service to provide proactive care”, the company said.
Moreover, the Prizma solution also supports doctors when delivering remote telehealth consultations by providing the ability to supply live vital sign data and critical information to clinicians. The ultimate goal is to improve the early detection of potential underlying issues, thereby facilitating early intervention or preventative care for aged care patients.
“This agreement with HomeStay is another example of the Prizma’s adaptability and potential to improve quality of life in everyday consumers,” said Dr Yacov Geva, chief executive officer of G Medical.
He added that HomeStay’s uVue platform is a “unique offering” that serves as a significant opportunity for G Medical as the company plans to expand into Australia and New Zealand in the foreseeable future.
HomeStay admitted that the agreement has yet to make a material financial impact and declared that once integration is completed, the company would update the market with regards to device uptake “when possible”.
The news helped to nudge G Medical shares up 4.6% to $0.115 while HomeStay’s shares remain unchanged at $0.006.