KORE’s comprehensive suite of IoT solutions and services simplify the complexities involved in providing an “aging in place” Connected Health solution that improves the quality of life for seniors
ATLANTA (Nov. 29, 2022) – KORE (NYSE: KORE), a global leader in Internet of Things (IoT) solutions and worldwide IoT Connectivity-as-a-Service (CaaS), announces its collaboration with Care Daily, a technology-based, in-home senior care company driven by artificial intelligence (AI) and IoT.
The senior population in the United States is anticipated to grow to 95 million by 2060, accounting for 23 percent of the nation’s population. With the significant growth in the senior demographic comes an aging-in-place movement. An AARP study reported that 77 percent of aging adults surveyed desire to stay in their home versus aging in a facility.Care Daily is a Software as a Service (SaaS) company based in Silicon Valley with an award-winning AI-assistant IoT platform aimed at helping seniors age in place safely and autonomously while also providing communication with healthcare providers and family. The core of the solution is the AI platform that is fully customizable and generates comprehensive analytics derived from data collected through ambient sensors and devices placed in the home communicated through scalable wireless connectivity, which is where KORE provides its services.
“KORE is excited to provide IoT connectivity and managed services for this revolutionary Connected Health venture,” KORE President and CEO Romil Bahl said. “IoT is driving innovation in healthcare and beyond to help tackle significant global issues. The aging-in-place movement is a great opportunity to build technology solutions that empower people with the autonomy and safety they desire. A terrific example of IoT-for-Good.”
"AI Caregivers work 24/7 and never sleep. Care Daily is on a mission to impact the lives of family and professional caregivers through personalized AI Caregiving experiences, and I'm proud to collaborate with KORE on operationalizing and scaling these proven solutions that help provide care for today's exploding population of seniors." David Moss, CEO and co-founder of Care Daily, said.
Care Daily recently partnered with Quil – the joint venture between Independence Health Group and Comcast – which is a digital health company aimed at providing health and wellness. Serving such a large client required rapid scalability in both device procurement and logistics, as well as wireless connectivity.
“KORE stepped in at a time when we required a connectivity solution that could scale with our customers globally,” said Chris Ebert, Care Daily SVP and General Manager, Americas and EMEA. “And uniquely, what KORE brought to us beyond connectivity and expertise is the ability to serve, via their managed services division, the hardware needs of our partners.”
KORE provides cellular and other IoT connectivity services to power solutions across the globe and offer up a comprehensive ‘one stop shop’ for IoT managed services to ease the complexity of deployment and make IoT work.
In the case of Care Daily, the devices and sensors communicate with the AI platform, which monitors the end user’s daily behavior to learn patterns over time and to detect and alert on deviations. KORE’s IoT managed services ensure that device and hardware needs are met seamlessly through procurement, configuring, kitting, shipping, and reverse logistics.
Care Daily has worked closely with the National Institute on Aging (NIA) and the University of California, Berkley to scientifically validate the platform in reducing anxiety and improving sleep for the caregivers of those with early onset dementia. Care Daily's SaaS solution is the only AI solution scientifically validated to reduce anxiety and improve sleep quality for dementia caregivers.
“As we evolve into more robust medical devices, we will have the expertise through KORE to provide those to our customers and support our scale as we grow,” Moss said.
About KORE
KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. For more information, visit www.korewireless.com.
About Care Daily
Care Daily is a Silicon Valley software company with the first scientifically validated at-home AI Caregiver service. Our patented technology detects falls in real-time, uncovers hidden health problems, and brings families and professional caregivers together provide care more efficiently across today’s exploding population of seniors. Service providers choose us because we're the only company providing an app store for physical spaces. That means partners can achieve massive differentiation by inventing, deploying, and managing their own unique AI services for subscribers. For more information, visit www.caredaily.ai.
Cautionary Note on Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include statements about KORE's commercial relationship with Ericsson and related expectations. These statements are based on various assumptions and on the current expectations of KORE's management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE's business and the timing of expected business milestones; risks relating to the integration of KORE's acquired companies, changes in the assumptions underlying KORE's expectations regarding its future business; the effects of competition on KORE's future business; and the outcome of judicial proceedings to which KORE is, or may become a party. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Annual Report on Form 10-K that KORE has most recently filed with the U.S. Securities and Exchange Commission, or the SEC, and other documents filed by us or that will be filed by us from time to time with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
KORE Media Contact:
Alisa Moloney
KORE
Email: amoloney@korewireless.com
KORE Investor Contact:
Charley Brady
KORE
Email: Investors@korewireless.com
Care Daily Contact:
Vishal Dubey
Care Daily
Email: vishal@caredaily.ai