FARMINGTON, Conn., Might 25, 2023 /PRNewswire/ — Horizon Technologies Finance Corporation (NASDAQ: HRZN) (“Horizon”), a top specialty finance enterprise that delivers capital in the type of secured loans to venture capital backed providers in the technologies, life science, healthcare information and facts and solutions, and sustainability industries, announced currently it has offered a $30 million venture loan facility to SafelyYou, Inc. (“SafelyYou”), of which $ten million has been initially funded.
SafelyYou has created an revolutionary remote care platform that combines genuine-time AI video technologies with a 24/7 remote clinical group. Senior living communities that make use of SafelyYou’s technologies have significantly lowered resident fall prices and considerably lowered emergency area visits, resulting in enhanced care for residents and lowered expenses for senior living operators. SafelyYou is backed by top rated-tier investors like Eclipse Ventures, Foundation Capital, DCVC, Founders Fund, and Omega Healthcare Investors, Inc. SafelyYou will use the loan proceeds to additional its mission of elevating the excellent of dementia care and generating its revolutionary care accessible to far more individuals.
“SafelyYou’s sophisticated technologies delivers senior living communities, residents and their households with an invaluable service that contributes considerably to enhancing care for these living with Alzheimer’s and dementia,” mentioned Gerald A. Michaud, President of Horizon. “In addition to rapidly detecting falls, SafelyYou enables caregivers to proactively avoid future falls by reviewing clear video of a fall occasion by way of a safe net portal. We think the positive aspects of this transformative technologies will lead to its adoption in assisted living and skilled nursing facilities across the United States. Horizon is pleased to assistance SafelyYou’s program to develop by generating its technologies far more extensively accessible.”
“We’re thrilled to get Horizon’s assistance as we additional our mission to reshape dementia care, supporting these living with Alzheimer’s, their households, and the communities that support care for them,” mentioned George Netscher, founder and CEO of SafelyYou. “SafelyYou’s mixture of globe-top AI technologies and specialist clinical assistance imply on-web-site employees not only see and fully grasp how falls take place, they also get insights into how to maintain them from taking place once again. As a outcome, communities are capable to supply a level of individual-centered care under no circumstances just before probable. The assistance from Horizon implies that greater-excellent care will attain a greater quantity of residents.”
About Horizon Technologies Finance
Horizon Technologies Finance Corporation (NASDAQ: HRZN) is a top specialty finance enterprise that delivers capital in the type of secured loans to venture capital backed providers in the technologies, life science, healthcare information and facts and solutions, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio’s return by creating present revenue from the debt investments it tends to make and capital appreciation from the warrants it receives when generating such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional workplace in Pleasanton, California, and investment specialists situated in Austin, Texas, Chicago, Illinois, Reston, Virginia and Portland, Maine. To study far more, please go to www.horizontechfinance.com.
Originating in 2015 as the doctoral investigation of CEO George Netscher—and inspired by his personal family’s knowledge with Alzheimer’s disease—SafelyYou was spun out of UC Berkeley’s Artificial Intelligence Study Lab, one particular of the top rated 5 AI investigation groups in the globe. The company’s passionate mission is to empower safer, far more individual-centered dementia care by way of globe-top, genuine-time AI video technologies and 24/7 remote clinical professionals. SafelyYou is made use of by skilled nursing facilities and assisted living communities all across North America—from the biggest national organizations to regional and nearby ones, also. SafelyYou is one particular of 5 most revolutionary fall technologies referenced in the Senate Falls Report (2019).
SafelyYou provides a voice to these living with Alzheimer’s and other types of dementia. Its AI-enabled cameras see critical care moments in genuine-time by way of sophisticated artificial intelligence. SafelyYou’s remote clinical professionals allow a level of predictive, individual-centered dementia care that solves a important difficulty across senior care by minimizing falls and fall-connected ER. For far more on SafelyYou, go to www.safely-you.com.
Statements incorporated herein may well constitute “forward-hunting statements” inside the which means of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical details incorporated in this press release may well constitute forward-hunting statements and are not guarantees of future functionality, situation or final results and involve a quantity of dangers and uncertainties. Actual final results may well differ materially from these in the forward-hunting statements as a outcome of a quantity of components, like these described from time to time in the Company’s filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-hunting statement produced herein. All forward-hunting statements speak only as of the date of this press release.
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