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Industry

Technology

Company Type

HealthTech

Size

$5 Million Equity

Investment Type

Equity

OVERVIEW

Metacare Inc. (TM: EyeWatch LIVE) is seeking $5 million to monetize its AI technology and virtual nurse monitoring solutions for home healthcare and senior living communities. 

  • Technology detects and decreases falls

 

  • Scalable solution with real-time Virtual Nurse Monitoring, 24/7/365

 

  • Forward thinking remote monitoring devices with patent pending.

 

  • TAM in the U.S for assisted senior living was $91.8 billion in 2022 expected to expand at a CAGR of 5.48% from 2022 to 2030, while the home healthcare market was at $129.2 billion in 2022 with an annualized growth of 3.4% from 2018 to 2023

 

  • Blue-chip, proven management team with over 30 years experience

STRONG TRACTION

Industry Partners: Industry partners and strong market demand enables exponential sales growth while partnering with affiliates, such as insurance companies to drive down operating costs

 

Active Pilots: Currently have active pilots in some of the largest nationwide senior living communities

OPPORTUNITY

Reducing Patient Falls 

  • By 2030, there are expected to be 73 million older adults experiencing a  combined 52 million falls every year

 

Reducing Financial Cost

  • The financial toll for older adult falls is expected to increase as the population ages (may reach over $101 billion by 2030)

 

  • Preventing just one fall per month per camera will have a dramatic impact on financial resources, including lower insurance premiums

 

Augmenting Staffing Shortfalls

  • The growing challenge of staff shortages and workload can be relieved with virtual EyeWatch LIVE nursing staff (room bed check)

THE PROBLEM

“Falls are prevalent among older adults and result in tremendous costs for the US Health System. They are also the primary cause for injuries in seniors”

Falls are the leading cause for both fatal and non-fatal injuries for older Americans. Every 11 seconds an older adult is treated in the ER for a fall. Every 19 minutes, an older adult dies from a fall


​ 

More than 59% of fall-related closed claim allegations in the skilled nursing and assisted living settings involved a resident with a prior history of falls (these claims are more costly than those of residents with no prior history)

STRATEGY

Technical: EyeWatch LIVE offers solutions combining human intelligence with artificial intelligence, providing 24-hour coverage, differentiated from those provided by other AI services. 

 

Real-Time Camera Monitoring: EyeWatch LIVE Virtual Nurse monitors strive to prevent falls before they occur by providing:

 

  • Software to identify pre-fall behaviors

 

  • Licensed nurse oversight at monitoring center

 

  • Real time notifications to caregivers

 

  • Patent pending remote activated bed device to prevent falls

 

  • Virtual Family Visits (phone app)

 

 

Disclaimer:  EyeWatch LIVE does not guarantee prevention of every fall

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EyeWatch LIVE 24 HOUR SOLUTION

  • Combining Artificial Intelligence (AI) with Human Intelligence (HI), EyeWatch LIVE brings together the latest camera technology and live remote monitoring devices

 

  • EyeWatch LIVE Virtual Nurse helps seniors in need by recognizing a risk or unwanted activity immediately and notifying a caregiver

 

  • All while verbally engaging and assisting the senior

DIFFERENTIATION

Marketing Differentiator for Operators

 

  • Operators utilizing the EyeWatch LIVE solution can differentiate their care alternatives in the competitive environment by offering enhanced patient care at a lower cost

 

Scalability

 

  • The total number of addressable units and patients in the market represents a $32 billion market size for EyeWatch LIVE prevention services

BENEFITS TO SENIOR LIVING & HOME HEALTHCARE

    • Proven reduction in falls, thereby reducing fall-related losses, thus maintaining quality of care resulting in a longer length of stay

 

    • Assists on-site nursing staff during overnight hours

 

    • Reduced labor costs and increased profits by monetizing the service to residents

 

    • Reduced liability insurance premiums

 

    • Expands target market to those who may not be able to afford traditional one on one home care or senior living

 

    • First-in-market technology means a competitive advantage
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BENEFITS TO INDIVIDUAL FAMILIES

  • Peace of mind knowing that loved ones are at lower risk of falls and injury

  • Ability to communicate and connect with loved ones 365 days a year

  • Convenient and easy-to-use mobile app for family time

  • Privacy on and off modes

  • Opportunity to honor loved one’s wishes to remain living in the home of their choice

  • Lower cost to families compared to private one on one caregivers at night (a savings of $40 or more an hour)

MANAGEMENT

 Valerie Whitman|President & CEO

 

Healthcare executive with more than 25 years’ experience in sales, marketing, and operations. Was the national senior care operations director at Care.com, where she developed the senior care division which resulted in strategic relationships with highly visible organizations such as the Alzheimer’s Association & AARP.  That division was profitable ahead of plan and showing solid growth trajectory in time for the IPO.  She has held several executive positions within senior living organizations. Held regional roles with the largest senior living provider in the Northeast, responsible for more than $473M in assets & nearly 500 employees.  Most recently was the VP of Healthcare for a national performance marketer with annual revenues north of $75M. This effort included full P&L responsibility, strategic planning, and team development.  Supporting a variety of healthcare organizations, such as senior living, home care, skilled nursing , ACO’s, and managed care plans in maximizing their customer acquisition & revenue efforts by utilizing a broad array of proven omni & multichannel solutions. Industry speaker with associations such as Argentum, Seniors Housing Business, Senior Living 100, National Medicare Advantage, and Medicare Supplemental Sales & Marketing Summit. Master of Science in marketing from Southern NH University, a Bachelor of Science in business administration from Boston University, and a Bachelor of Science in leadership from Northeastern University.

 Aaron D’Costa| EVP, Sales & Marketing

 

Over nearly 30-year career, has held community- and corporate-based operations and marketing positions with well-known providers.  Served as COO for a Canadian-based assisted living operator as well as a startup independent living operator. In addition, on the capital side Aaron successfully leveraged relationships resulting in $150+ million in equity deployed over 25+ senior living acquisitions and developments. Has also operated his own strategic marketing and management consulting firm over the years. Served on the ASHA executive board, Urban Land Institute’s Senior Housing Council, on the NICMAP advisory committee of the National Investment Center (NIC), chairing Argentum’s sales roundtable, and the advisory boards of Senior Living Smart, Senior Living 100 and SMASH.  Completed MBA in business and brand strategy from The George Washington University and holds dual undergraduate degrees in management and communications from Virginia Wesleyan College.

Dr. Rebecca Metcalfe|CNO

 

A highly skilled leader in her field for more than 20 years, she has extensive experience in Labor & Delivery nursing where she utilized state of the art preventative monitoring technology.  Her experience with this technology has allowed her to support the development of the live virtual nurse monitoring platform.  Her extensive experience also includes hospital education, clinical coordination, and critical care patients.  Additionally, she has several affiliations and partnerships with nursing schools that have adopted a virtual nurse monitoring curriculum to expose nursing students to the future of technology in healthcare. Dr Metcalfe is an Associate Professor and began her teaching career in 2009, while working as a nurse. She completed her Doctor of Nursing Practice (DNP) at Chamberlain School of Nursing, as well as her Master of Science in Nursing/Education and Bachelor of Science in Nursing, where she earned Magna Cum Laude status.

Jarmaine Go | CTO

 

Solution focused technology executive with more than 20 years’ experience.  Jarmaine has achieved great success in creating solutions for clients that allow them to drive higher revenues and margins while delighting their customers with great user experiences.  His knowledge of developing, training, & leading sales technology teams has provided him with a deep understanding of not only the technologies themselves but also how they must integrate with & drive the overall business.  Jarmaine has extensive experience with top technology platforms that are both B2B & B2C facing.   Jarmaine’s experience includes go to market strategies with an eye on product development & enhancements for his clients to remain highly competitive.  Having worked with large clients such as Costco, he understands the business demands placed on technology leaders.

MEDICAL AND STRATEGIC ADVISORS

Dr. Steven Donchey | MD, FACP

Medical Advisor

 

Renowned for in post-acute care, has been named Chief Medical Officer for Covenant Care’s Home Health, Personal, Memory, Hospice and Palliative Care patient services. Covenant Care serves the state of Florida and parts of Alabama. Was previously Associate Medical Director for Covenant Care in Escambia and Santa Rosa counties and has been practicing for more than 20 years. An Internal Medicine specialist in Niceville, Florida. A graduate of the Ross University of Medicine, did residency at St. Joseph’s Hospital and Medical Center in Paterson, New Jersey.  Affiliated with many hospitals including Fort Walton Beach Medical Center, North Okaloosa Medical Center, Sacred Heart Hospital on the Emerald Coast and Twin Cities Hospital.

Dr. Dave Adams | MD, FAAD, FACMS

Biometrics Engineer Advisor

 

Background includes a unique combination of experience and expertise in the field of biometrics & technology. Has a background in engineering, composite materials, orthopedic surgery, dermatology, Mohs surgery and skin cancer, wound healing, and human factors. Previous experience in the design, development, and mass manufacturing of inflatable assistive devices for home, hospital, and hospitality environments and holds patents to these technologies.  Five-year veteran of the United States Air Force and served as the Flight Surgeon of the USAF Thunderbirds from 1997-1999. Graduate of the University of Delaware and Jefferson Medical College.  The founder and co-owner of Coastal Skin Surgery and Dermatology in Destin, Florida. Serves as a philanthropic physician member (and past President) to the Caduceus Society and regularly participates and provides dermatologic care and skin cancer services to patients of several local charitable medical clinics.

Sean Patty

Senior Financial Advisor

 

Extensive background with early-stage funding and growth management. Through their advisory firm, provides M&A advisory services and holds equity positions in several early-stage tech companies. Other tech leadership roles include, CFO for Secure Exchange Solutions, a provider of healthcare IT solutions, President & CEO of Cernium Corp, a leading video analytics software company, and CFO for Angel Tech, a high-profile wireless venture in partnership with Raytheon. Graduated from Bethany College and received an MBA from Indiana University’s Kelly School of Business. Also holds a CPA certificate.

Deborah Howard

Strategic Advisor

 

Over 30 years experience in senior living sales & marketing working at the community, regional, divisional and national levels. Successful in growing occupancy and revenue by improving marketing strategy and execution. Specializes in building websites that attract ideal prospects, generate qualified leads, map the prospect journey to maximize every opportunity to grow organic leads and reduce reliance (and expense) of third-party aggregators. Has been the Founder & CEO of a full-service industry marketing agency, Senior Living Smart for the past 10 years.  Debbie holds a bachelors of arts in communications from Emory University. 

Brian Cyphert

Engineering Advisor

 

After earning a degree in Aerospace Engineering, attended Aviation Officer Candidate School and was commissioned as an Ensign in the US Navy. Went on to earn Naval Flight Officer wings and designation as a Patrol Plane Mission Commander/Tactical Coordinator, patrolling the World’s oceans tracking submarines of potential adversaries. Also served as an Instructor at the DOD Advanced Navigation School. After leaving the Navy, Brian worked at Intel as a Senior Component Design Engineer, leading teams responsible for the physical design, full-chip assembly and verification of numerous chipsets, most notably Intel’s first stand-alone graphics chip, first graphics chip with integrated memory and I/O controllers, and the first CPU with integrated graphics. After leaving Intel, served as Director of Engineering for Autoventions leading the design and development of specialty products for the trucking industry, including the Trailer Sentry™ that allows for the remote locking and unlocking of truck and trailer brakes, preventing theft.

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Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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