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CARESPAN HEALTH DIVESTS INTEREST IN CARESPAN ASIA FOR US$1,000,000; NET PROCEEDS TO BE USED TO STRENGTHEN BALANCE SHEET AND FUND WORKING CAPITAL TO SUPPORT PATH TO PROFITABILITY; DR. SAM TONEY ELECTED CHAIRMAN OF THE BOARD OF DIRECTORS, DARRELL MESSERSMITH ELECTED TO CARESPAN BOARD

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VANCOUVER, BC, March 4, 2024 /CNW/ – CareSpan Health, Inc. (TSXV: CSPN) (“CareSpan” or the “Company”) is pleased to announce that on February 29, 2024 it closed a transaction for aggregate gross proceeds of approximately USD$1,000,000 involving the: (i) sale of the Company’s fifteen percent (15%) minority equity interest in CareSpan Asia Inc. (“CareSpan Asia”), a Philippines based corporation and (ii) exchange of certain software rights (as detailed below) between the Company and CareSpan Asia (the “Transaction”). The net proceeds from the Transaction will be used to focus and further build out the Company’s offerings in the U.S. market and for general business and working capital purposes. 

CareSpan Asia Transaction

Details of the Transaction are as follows: CareSpan Asia purchased the remaining equity interest of their company from CareSpan and obtained the rights to exclusively use CareSpan’s platform technology in the Asia-Pacific region and for non-exclusive use in South America. In consideration, CareSpan Health received gross proceeds of approximately USD$1,000,000 and rights to exclusively use the microservices-architected version of the CareSpan platform that is currently being developed by CareSpan Asia (anticipated to be completed by December 31, 2024) in North America and Europe. 

Both CareSpan Health and CareSpan Asia intend to continue collaborating on focused technology and market opportunities going forward, building upon the strong relationship developed since the inception of a joint venture between the companies in 2020.

According to Darrell Messersmith, Chief Executive Officer of CareSpan Health, “Following the successful completion of the Transaction, CareSpan Health is poised to further pursue its strategic initiatives for healthcare delivery. The proceeds from the Transaction strengthens the Company’s balance sheet and provides the necessary working capital for the Company to focus and further build its network to a scale that achieves profitability via the U.S. market – the Company’s primary market. Our contract pipeline, mainly in services to U.S. military personnel, is growing. In addition to the heightened focus on the U.S. market, CareSpan is also in the process of expanding the Software-as-a-Service (SaaS) component of the business and completing the pilot for Chopra Whole Person Care, which was announced in the second half of 2023. The Company will continue to support its European Joint Venture, SmartCare, where we have a 15% ownership stake.”

Dr. Sam Toney Elected as Chairman and Darrell Messersmith Appointed as Board Member

Dr. Sam Toney has been elected as Chairman of the board of directors of the Company (the “CareSpan Board”).

Dr. Toney was initially elected to the CareSpan Board in May 2023 and will serve as the Chairman of the Board going forward. As a resident of Tampa, Florida, Dr. Toney has had a well-respected career in healthcare. He has over thirty years of clinical management experience in health plan populations including Medicare, Medicaid, Tricare and commercial lines of business. He is currently Chief Executive Officer of Toney Healthcare Consulting. Prior to joining CareSpan, Mr. Toney served as Chief Medical Officer for Health Integrated (which he founded) where he developed a unique behavior modification program known as Dynamic Somato-Social Theory to manage individuals with complex co-morbid profiles. In prior roles with CareSpan, Dr. Sam Toney was Senior Medical Director for Behavioral Health, Acting Chief Medical Officer, as well as Senior Medical Advisor.

According to Dr. Toney, “I am excited to continue my affiliation with CareSpan, this time as Chairman of the Board. I am excited to help guide the team to capture the exciting opportunity that is ahead of them, and do that in a very responsible, patient-centric manner. I am also very excited to share my experience and expertise as CareSpan seeks to develop innovative technology and data solutions to improve health outcomes.”

Dr. Toney is certified by the American Board of Psychiatry and Neurology and has appeared in such publications as the Journal of Managed Care Pharmacy, Managed Healthcare Executive and Population Health News. He is also a frequent speaker at major healthcare industry conferences and provides thought leadership in the design of an integrated approach to diagnosing and treating patients with chronic physical conditions complicated by co-morbid psychiatric and substance use disorders.

The Company is also pleased to confirm that Darrell Messersmith, Chief Executive Officer, has been appointed to the CareSpan Board. Rembert de Villa, former Chairman and Chief Executive Office of the Company, will continue to serve as member of the CareSpan Board.

According to outgoing Chairman, Rembert de Villa, “I am delighted that both Dr. Toney and Darrell Messersmith, have accepted their new roles on the CareSpan Board. They truly bring deep and extensive healthcare industry knowledge and experience that will be needed for CareSpan to execute its strategic focus on the Company’s higher-margin segments and business goals going forward.”

About CareSpan Health, Inc.

CareSpan is a healthcare technology and services company. CareSpan, with its head office in British Columbia, is the parent company of the CareSpan group, which holds a 100% interest in its operating subsidiary, CareSpan Holdings, Inc., a Delaware incorporated company.

CareSpan’s proprietary ‘Clinic-in-the Cloud’ is a clinical workflow driven platform designed by doctors that integrates remote patient monitoring, diagnostic tools, the patient’s electronic health record, care collaboration capabilities, patient engagement and e-prescribing and lab ordering. CareSpan’s platform seamlessly supports both in-person and virtual/telehealth care. CareSpan is using this platform combined with essential business services to build provider networks across the U.S. that deliver primary and chronic care, and urgent care as well as behavioral health care.

Forward-Looking Statements

This news contains “forward-looking statements” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”) which reflect the current expectations of management of the company’s future growth, results of operations, performance, and business prospects and opportunities, including the statements made above with respect to: (i) the delivery of the microservices software by CareSpan Asia by December 31, 2024; (ii) the Company’s ability to further build out its US-software operations; (iii) the anticipated ongoing collaboration between CareSpan and CareSpan Asia; (iv) the growing contract pipeline of the Company; and (v) the Company’s ability to capture business opportunities and grow in the future. Forward-looking statements are frequently, but not always, identified by words such as “may”, “would”, “could”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential for”, “intend” and similar expressions or the negative of these terms or other comparable terminology, although these words may not be present in all forward-looking statements. 

Forward-looking statements are based on management’s assumptions as at the date of the forward-looking statements are provided, including but not limited to the following: the ability of the Company to execute its growth plans and business strategies; CareSpan Asia’s ability to sufficiently develop and complete the microservices software development, the ability of Company’s management to execute its business strategy and deploy capital in an efficient and profitable manner; no adverse changes in the applicable regulatory environment of the Company; the U.S. market continuing to be a higher-margin market; and sufficiently capturing opportunities to grow the Company. Though management believes that its assumptions are reasonable in the circumstances, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from all or any of the future results, performance or achievements expressed or implied by forward-looking statements.

Risk factors that could cause the Company’s actual results, performance, or achievements to differ from the forward-looking statements in this news release include, but may not be limited to: general market and economic risk; the ability of the Company’s management to execute its strategy; the Company’s ability to allocate capital in an efficient manner; the Company may never reach profitability and has a history of losses; risk of dilution and further share issuances to raise capital; CareSpan Asia’s ability to execute its strategy and software development, consumer demand for remote patient monitoring in the United States, reliance on key personnel and management, unexpected or adverse regulatory changes in the healthcare space. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

https://www.carespanhealth.com

SOURCE CareSpan Health, Inc.

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Technology

Augmented Reality Navigation Market worth $6.33 billion by 2029 – Exclusive Report by MarketsandMarkets™

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September 20, 2024

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DELRAY BEACH, Fla., Sept. 20, 2024 /PRNewswire/ — The augmented reality (AR) navigation market is expected to reach USD 6.33 billion by 2029 from USD 1.17 billion in 2024, at a CAGR of 40.3% during the 2024-2029 period according to a new report by MarketsandMarkets™. Multiple companies like Volkswagen (Germany), Mercedes-Benz Group AG and many others are investing is augmented reality (AR) navigation which is increasing the opportunity for growth in the AR navigation market. The AR navigation market is continuously developing, with the presence of multiple players. Currently, the North America region is contributing significantly to the growth of the AR navigation market. Similarly, Asia Pacific, Europe and RoW regions are expected to be the growing market for the forecasted period.

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Browse in-depth TOC on “Augmented Reality Navigation Market” 
184 – Tables
61 – Figures
195 – Pages

Augmented Reality Navigation Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 1.17 billion

Estimated Value by 2029

$ 6.33 billion

Growth Rate

Poised to grow at a CAGR of 40.3%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By offering, type, application, end-user industry, and region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Limited user acceptance and familiarity with AR navigation

Key Market Opportunities

Integration of 5G technology with AR navigation

Key Market Drivers

Integration of AR in automotive systems drives AR navigation market

AR navigation software to have the highest market share in offering segment of augmented reality (AR) navigation market in the forecast period from 2024 to 2029.

AR navigation software dominates the AR navigation market as it plays a vital role in providing a complete and interactive navigation experience. This category includes different types of software, such as AR mapping and localization software, which are essential for accurate positioning and spatial awareness. AR navigation apps use AR technology to give real-time directions and visual guidance, making navigation more user-friendly and engaging. Moreover, AR SDKs (software development kits) allow developers to create custom AR solutions, promoting innovation and growth in the market. AR Cloud solutions provide persistent and shared spatial data, which enhances the accuracy and usefulness of navigation services. Other software solutions, like AR HUD software and AR data visualization software, also support the industry by enhancing navigation capabilities.

Indoor navigation sub-segment of type segment in augmented reality (AR) navigation market is expected to grow at the highest growth rate during the forecast period.

Indoor navigation involves the use of technology and systems to help people find their way inside buildings like shopping centers, airports, corporate offices, educational institutes, museums, hospitals, and others. Augmented reality navigation technology use sensors, maps, and location-finding tools to give accurate directions and information inside buildings where regular GPS are unavailable.

As indoor spaces become more complex it is rising the demand for easy-to-use AR navigation. Businesses are investing in AR navigation systems to improve customer satisfaction, make operations smoother, and make it easier for people to get around in big, complex buildings. Also, the growing use of smartphones and augmented reality is helping to create more advanced indoor AR navigation systems that provide real-time, interactive guidance and useful information.

As companies realize the importance of offering smooth and easy-to-use navigation experiences for their customers and staff, the demand for indoor navigation technology rises rapidly.

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Augmented reality navigation market in North America has the largest market share in 2023.

Augmented reality navigation industry in North America is sub-segmented into the US, Canada and Mexico. The North America market is undergoing significant growth due to advancement in augmented reality technology, widespread use of HUD and HMD and rising demand of advanced navigation system that provide real-time directions, visual indicators, and interactive features with enhanced wayfinding experience for both outdoor and indoor environment. North America has strong presence of key players and startup companies within the region that promotes new innovation and technological development. US based companies such as Google LLC, Microsoft, Apple Inc. are continuously involved in developing and upgrading the existing technology.

Key Players

The key players in AR navigation companies are Google LLC (US), Apple Inc. (US), Microsoft (US), Neusoft Corporation (China), WayRay AG (Switzerland), FURUNO ELECTRIC CO., LTD.  (Japan), ARway Corp. (Canada), Wiser Marine Technologies Ltd. (Canada), Mapbox (US), Treedis (Israel), ViewAR GmbH (Austria), Artisense GmbH (Kudan Germany GmbH.) (Germany), IndoorAtlas (Finland), Hyper (London), SITUM TECHNOLOGIES (Spain), Insider Navigation Inc (Austria), Wemap SAS (France), Resonai Inc. (Israel), Oriient New Media Ltd (Israel), Navigine (US), 22Miles (US), Sygic (Bratislava), Veo (Poland), HERE (Netherlands), and Esri (US).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Augmented and Virtual Reality Market by Enterprise, Technology (Augmented Reality, Virtual Reality), Offering (Hardware, Software), Device Type (HMDs, HUDs, Gesture Tracking Devices), Application and Region – Global Forecast to 2029

Augmented Reality (AR) Market Size, Share & Industry Growth Analysis Report by Product by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography – Global Forecast to 2026

Mobile Augmented Reality (AR) Market with COVID-19 Impact Analysis by Device Type (Smartphones, Tablets, PDAs), Offering (Software, Services), Application (Consumer, Healthcare, Enterprise, Commercial), and Region – Global Forecast to 2025

Augmented and Virtual Reality in Healthcare Market by Offering (Hardware and Software), Device Type, End User, Application (Patient Care Management, Medical Training & Education, Pharmacy Management, Surgery), and Geography – Global Forecast to 2023

Head-Up Display Market by Type (Conventional Head-Up Displays, AR-Based Head-Up Displays), Component (Video Generators, Projectors/ Projection Units, Display Units), Technology (CRT-based HUD, Digital HUD), Application & Region- Global Forecast to 2028

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Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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Technology

HandicapMD Expands Leading Telemedicine Services for Disabled Parking Permits in Florida

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50 mins ago

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September 20, 2024

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HandicapMD’s virtual telemedicine platform connects patients with licensed doctors to obtain disabled parking placards quickly, safely, and affordably.

MIAMI, Sept. 20, 2024 /PRNewswire/ — HandicapMD, the nation’s leading telemedicine platform for disabled parking permits, has launched its services for residents across Florida, marking another milestone in its nationwide expansion. HandicapMD has already helped thousands of patients navigate the complex process of obtaining disabled parking placards through secure online disabled permit evaluations by licensed physicians.

HandicapMD, Floridians can now complete the evaluation process for a how to get a disabled parking permit in Florida from the convenience of their homes, with services starting at just $159.

“Many patients face barriers when trying to get their disabled parking placards, whether due to mobility issues, long wait times, or the paperwork involved,” says Dr. Eric Jackson-Scott, CEO and Founder of HandicapMD. “Our goal is to streamline this process for Florida residents by offering telemedicine consults with licensed doctors.”

Through HandicapMD’s telemedicine platform, patients in Florida can receive the following benefits of a disabled parking placard:

Access to designated disabled parking spaces near entrancesExtended time limits in restricted zonesExemption from parking meter feesAbility to park in residential permit zones

HandicapMD’s service is available from 8 a.m. to 10 p.m., seven days a week, with no appointment needed. If a patient does not qualify for a disabled parking permit, they won’t be charged for the evaluation.

“Our expansion into Florida is driven by the need to provide an easier, more accessible solution for individuals with disabilities,” says Dr. Jackson. “We’re excited to bring our telemedicine platform to Florida, helping residents gain the mobility they deserve without unnecessary delays or inconvenience.”

About HandicapMD: HandicapMD is the nation’s leading telemedicine platform for disabled parking permits, offering services in states across the U.S. The platform connects patients with fully licensed doctors for hassle-free online evaluations, helping them secure disabled parking placards from the comfort of their homes. HandicapMD is committed to improving accessibility for individuals with disabilities and providing exceptional care through its innovative telehealth platform.

For more information, visit handicap placard Florida online.

Contact:
Ena D.
help@handicapmd.com
(833) DMV-3825

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SOURCE HandicapMD

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Technology

Autonomous Mobile Robots (AMR) Market to cross $10 Billion TAM with around 500K AMRs shipment by 2030 – LogisticsIQ

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50 mins ago

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September 20, 2024

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NEW DELHI, Sept. 20, 2024 /PRNewswire/ — The global Autonomous Mobile Robots (AMRs) market is poised for significant growth, driven by increasing demand for automation across various sectors, including logistics, manufacturing, and healthcare. According to the latest market research by LogisticsIQ (5th Edition), Autonomous Mobile Robots (AMR) Market to cross $10 Billion TAM by 2030 with a CAGR of ~30% between 2024 and 2030. We expect the installed base of AMRs to reach 2 million units in 2030.

Download a Free Sample of our report on Autonomous Mobile Robots Market

Key Market Drivers

Increased Efficiency: Businesses are rapidly adopting AMRs to enhance operational efficiency, reduce labour costs, and streamline workflows.Labor Shortages: The ongoing labour shortages in various industries have accelerated the need for automated solutions, making AMRs a crucial investment for companies.Technological Advancements: Innovations in artificial intelligence (AI), machine learning, and sensor technology are making AMRs more capable and reliable.Growing E-Commerce: The rise of e-commerce has created a demand for efficient warehouse management solutions, further boosting the AMR market.

Regional Insights

North America leads the AMR market, accounting for the largest share due to the early adoption of automation technologies. Meanwhile, the Asia-Pacific region, especially China is expected to witness the fastest growth, fuelled by rapid industrialization and increasing investments in smart factories. US and China are going to contribute ~40% of this market by 2030.

Industry Applications

Autonomous mobile robots are being utilized in various applications, including:

Warehouse Automation: AMRs enhance inventory management and order fulfillment processes. This industry is expected to lead with more than 75% share by 2030.Manufacturing: Robots facilitate material handling and assembly line operations. Traditionally, it has been dominated by AGVs but are getting replaced by AMRs due to more flexibility and scalability features.Healthcare: AMRs assist in transporting medical supplies, improving patient care and operational efficiency. It is a niche market but high growing area to focus further.

Purchase the full report on the Autonomous Mobile Robots Market – Growth, Trends, and Forecast

Top Factors & Challenges in the Autonomous Mobile Robots Market

Top Factors Driving Growth

Increased Demand for Automation: Businesses across industries are increasingly seeking automation to enhance efficiency and reduce operational costs.Technological Advancements: Innovations in AI, machine learning, and sensor technologies improve the capabilities and reliability of AMRs, making them more attractive to businesses.Labor Shortages: Ongoing labour shortages, especially in sectors like logistics and manufacturing, are pushing companies to adopt AMRs to maintain productivity.Growth of E-Commerce: The surge in online shopping requires efficient warehouse and logistics solutions, driving the adoption of AMRs for inventory management and order fulfillment.Improved Safety Standards: AMRs can reduce workplace accidents by taking over hazardous tasks, leading to safer working environments.Customization and Scalability: Many AMR solutions offer customizable features that allow businesses to scale operations according to their specific needs.

Top Challenges

High Initial Costs: The upfront investment for AMRs can be substantial, which may deter smaller businesses from adoption.Integration with Existing Systems: Integrating AMRs into current operational workflows and legacy systems can be complex and resource-intensive.Regulatory Compliance: Navigating regulatory requirements and safety standards can pose challenges, especially in highly regulated industries.Limited Awareness and Understanding: Some businesses may lack knowledge about AMR technology and its potential benefits, hindering adoption.Technical Limitations: While technology is advancing, AMRs may still struggle with navigating complex environments or handling unexpected obstacles.Cybersecurity Concerns: As AMRs become more connected, they may be vulnerable to cybersecurity threats, requiring robust security measures.

Know more about Autonomous Mobile Robots Market – Top Players, Cost Analysis, Competition, and Customer Expectation

What will you get in this report?

500 Pages and 160+ Exhibits Market ReportRevenue and Shipment data segmented:By form factor (Deck-load, Tugger/Pull, Forklift)By Navigation (Tape/Wire/Magnet, Reflector, QR Codes, LiDAR, Camera, Sensor, Fusion)By Function (Goods to person (G2P), Person to Goods (P2G), Conveying, Piece picking, Towing, Pallet Handling)By Application (Manufacturing, Logistics and Warehousing, Shipping, Delivery, Cleaning, Security, Hospital, Retail)Detailed excel file with 150+ market tables (Revenue and Shipment) including forecast till 2030A bottom-up analysis of Autonomous Mobile Robots Market for 19 countries (United States, Canada, Germany, UK, France, Italy, Spain, Nordics, China, Japan, South Korea, Australia, India, Taiwan, Thailand, Malaysia, Singapore, Indonesia, Phillippines) in 5 regionsIn-depth analysis of 700 companies in the ecosystem with more than 160 company profiles.Focus Group Discussion with 100+ key industry stakeholders across the value chain to collect the first-hand information to validate our analysis. Stakeholders include components and technology providers, system integrators, robot manufacturers (OEM/ODM), robotic software & service providers, and end-user industry verticals. Apart this, study also focuses on different components and integral parts of Autonomous Mobile Robots like Motion Control, Batteries & Chargers, Cameras / Vision Sensor, LiDAR, Sensor Fusion, QR Code and Wireless Communication.2 Analyst Sessions to brainstorm furtherInvestment details excel file with 175+ M&A and ~1000 funding dealsLogisticsIQ™ Exclusive Market Map (700+ Players across more than 15 categories)

About LogisticsIQ

LogisticsIQ is a dedicated market research and advisory firm in Logistics & Supply Chain sector, empowering decision makers from top fortune 1000 companies, financial and research institutions, private equity and high potential start-ups with market insights to make better decisions. We enable this by analysing the right mix of the best data, the best research methodologies, and the best industry panel to deliver value to our clients.

Media Contact

Name: Sunny M.
Email: sunny@thelogisticsiq.com
Phone: +91-952-918-4938 

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