PALM BEACH GARDENS, FL--(Marketwired - Aug 25, 2015) - EncounterCare Solutions (
CNV Systems specializes in research, engineering and production of high efficiency wireless multi-vital-sign sensors for remote health monitoring and preventive care applications.
Paul Harris, CEO of CNV Systems and Ronald Mills Sr. CEO of EncounterCare will initially serve as co-managing directors of the Joint Venture. Mr. Harris, in conjunction with CNV President, Sean Tan, will direct daily operations and oversee integration of the two company's highly compatible leading edge technologies. Chris Doherty and his team from EncounterCare will join ranks with CNV staff to form a new entity under the Acculife™ name.
Ron Mills, President of EncounterCare, indicated the Joint Venture is being established to explore opportunities in advancing the company's medical division towards maximization of shareholder value return. The company anticipates seeking guidance from an investment banking firm for analysis of market scale options and financial growth strategy.
The new Acculife™ company will be chaired by current CNV CEO Paul Harris. Mr Harris has 25+ years in technology management and international market development -- the last 12 years of which has been in the wireless health sensor and wearable technology sector. He is supported by CNV's proficient international staff and advisory team (http://www.cnvsystems.com/team/) as led by Sean Tan, president of CNV Systems. Mr. Tan has 20+ years' health device R&D, production and market management, who together with Chris Doherty, Vice President of EncounterCare Solutions, will pursue new advancements in research, patents and product solutions going forward.
With multiple patents filed, CNV's VST (vital sign tracker) Sensor Engine enables continuous low power monitoring of: heart rate, activity, temperature, PTT (Pulse transit time), Sp02 (Blood oxygen), and GSR (Galvanic skin response) from the convenience of a single contact point on the arm. Encrypted data can be processed for biometric parameters relating to: sleep cycles, activity, anxiety, depression or seizures, and further calibrated into a "LifeScore" rating, upon which pre-crisis, preventive measures can be applied and validated.
EncounterCare Solutions' multi patented, FDA approved health server data management system will incorporate CNV's remote health monitoring technology -- forming a seamless end-to-end, sensor-to-server FDA based foundation, upon which products and services ranging from chronic and senior care, through to wellness and lifestyle health management can be established. Both medical professionals and health advisors alike can offer improved individual care of patients through a centrally administered iOT (internet of things) based system of continuous health monitoring and quantification of treatment plans and outcomes.
According to DDW Healthcare, the annual smart wearable healthcare market volume will grow from $2 billion in 2014 to $41 billion in 2020, a compound annual growth rate of 65%.
Personal health, wellness product market to reach $8B by 2018
The Consumer Electronics Association (CEA) has announced the results of a new report which predicts more than a 142 percent increase in personal health and wellness product sales and software and service revenues over the next five years. During this period, product sales of software and service revenues will see the largest growth, according to the report, having generated more than $3.3 billion of revenue in 2013, and growing to more than $8 billion by 2018. With more than 40 million personal health and wellness products having sold in 2013, the figure is expected to rise to more than 70 million by 2018.
Wearable technology market to hit $6B by 2016
Market for embedded health monitoring-gadgets to hit 170M devices by 2017
Armed with combined strength of the Joint Venture technologies, plus disruptive innovation of forth coming products, the goal of Acculife™ is to capture significant market share in 2016, and solidify incremental yearly growth and sales profits.
About CNV Systems Ltd.:
CNV Systems Ltd. is a Canadian owned bio sensor research company based in Vancouver, British Columbia. It is comprised of an international team of highly experienced researchers, product managers and business executives with 20+ years' tech development experience, and 11+ years of health wearable R&D and production expertise. We focus on researching and applying the latest bio sensor technologies in commercial applications.
About CyberCare Health Network:
CyberCare Health Network is a wholly owned subsidiary of EncounterCare Solutions (
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intends," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.