FARMINGTON, Conn., May well 25, 2023 /PRNewswire/ — Horizon Technologies Finance Corporation (NASDAQ: HRZN) (“Horizon”), a major specialty finance business that supplies capital in the type of secured loans to venture capital backed providers in the technologies, life science, healthcare data and solutions, and sustainability industries, announced nowadays 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 true-time AI video technologies with a 24/7 remote clinical group. Senior living communities that use SafelyYou’s technologies have significantly decreased resident fall prices and substantially lowered emergency space visits, resulting in enhanced care for residents and decreased charges 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 high quality of dementia care and generating its revolutionary care obtainable to a lot more people today.
“SafelyYou’s sophisticated technologies supplies senior living communities, residents and their households with an invaluable service that contributes substantially to enhancing care for these living with Alzheimer’s and dementia,” mentioned Gerald A. Michaud, President of Horizon. “In addition to swiftly detecting falls, SafelyYou enables caregivers to proactively avoid future falls by reviewing clear video of a fall occasion through a safe net portal. We think the advantages of this transformative technologies will lead to its adoption in assisted living and skilled nursing facilities across the United States. Horizon is pleased to help SafelyYou’s program to develop by generating its technologies a lot more extensively obtainable.”
“We’re thrilled to obtain Horizon’s help as we additional our mission to reshape dementia care, supporting these living with Alzheimer’s, their households, and the communities that aid care for them,” mentioned George Netscher, founder and CEO of SafelyYou. “SafelyYou’s mixture of planet-major AI technologies and professional clinical help imply on-website employees not only see and have an understanding of how falls take place, they also get insights into how to preserve them from taking place once again. As a outcome, communities are in a position to supply a level of individual-centered care in no way just before probable. The help from Horizon indicates that larger-high quality care will attain a larger quantity of residents.”
About Horizon Technologies Finance
Horizon Technologies Finance Corporation (NASDAQ: HRZN) is a major specialty finance business that supplies capital in the type of secured loans to venture capital backed providers in the technologies, life science, healthcare data and solutions, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio’s return by producing 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 positioned in Austin, Texas, Chicago, Illinois, Reston, Virginia and Portland, Maine. To discover a lot more, please take a look at www.horizontechfinance.com.
About SafelyYou
Originating in 2015 as the doctoral study of CEO George Netscher—and inspired by his personal family’s encounter with Alzheimer’s disease—SafelyYou was spun out of UC Berkeley’s Artificial Intelligence Investigation Lab, 1 of the top rated 5 AI study groups in the planet. The company’s passionate mission is to empower safer, a lot more individual-centered dementia care by way of planet-major, true-time AI video technologies and 24/7 remote clinical authorities. 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 regional ones, also. SafelyYou is 1 of 5 most revolutionary fall technologies referenced in the Senate Falls Report (2019).
SafelyYou offers a voice to these living with Alzheimer’s and other types of dementia. Its AI-enabled cameras see critical care moments in true-time through sophisticated artificial intelligence. SafelyYou’s remote clinical authorities allow a level of predictive, individual-centered dementia care that solves a crucial difficulty across senior care by lowering falls and fall-associated ER. For a lot more on SafelyYou, take a look at www.safely-you.com.
Forward-Searching Statements
Statements incorporated herein could constitute “forward-searching statements” inside the which means of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical information incorporated in this press release could constitute forward-searching statements and are not guarantees of future overall performance, situation or final results and involve a quantity of dangers and uncertainties. Actual final results could differ materially from these in the forward-searching statements as a outcome of a quantity of things, 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-searching statement produced herein. All forward-searching statements speak only as of the date of this press release.
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