The company ends the leases of three residential care facilities and redirects cash flow to investing in technology services
SAN ANTONIO, Texas, June 29, 2023 (Globe Newswire) — Clearday, Inc. (OTCQX: CLRD) (“Clearday” or “we”) uses an integrated platform for robotic companion care and AI An innovative and long-lived technology company. Solution-driven solutions to serve the aged care sector continues its strategic shift towards asset-light solutions by ending the lease of three residential care facilities.
The retirement of three facilities and the termination of related leases is expected to reduce debt by more than $27 million, subject to certain adjustments. These facilities are a waste of cash flow. These cash flows can now be used to further invest in AI-powered robotic care services. CEO and Founder Jim Walesa: “We are moving away from a high, fixed-cost, sub-optimal approach to the care crisis and will continue to embrace the future of longevity care: AI-powered robotics. I am excited about it.”
By 2030, all baby boomers will be over the age of 65, equivalent to one in five Americans. With shortages of nurses and caregivers, a weak economy, and rising labor costs, the United States is in, or is facing, a care crisis.
Clearday believes that the success of longevity care and the resolution of the care crisis is not about owning and operating physical facilities, but about technological solutions that extend, facilitate and deliver a richer customer life through meaningful days. We believe in providing. At the heart of Clearday’s Digital Platform (CDP), the result of years of innovation and investment, is the future of longevity care and what we believe is the solution to America’s longevity care crisis: AI. It is a nursing care robot nursing machine that utilizes.
Jim Walesa, Chairman and CEO, said: Our neural network robotic solution enables every patient to have an individual caregiver. Our digital platform makes life more meaningful for our clients. “
Jagi Gill, Founder of Viveon Health Acquisition Corp: “The termination of these leases will significantly reduce loss of operating cash flow and allow us to focus on innovative care products and services, including Clearday’s unique home digital products. will be.”
Jim Walesa, “Thanks again to Singular Research for choosing us to be presenters at their recent Solstice conference. The company has now posted a video presentation on its website (www.myclearday.com), which illustrates the company’s strategic shift towards asset-light solutions.”
About Clearday Co., Ltd.
Clearday™ is an innovative longevity healthcare technology company with a modern and hopeful vision to make quality care solutions more accessible and affordable, empowering older adults and their families. is. Clearday has decades of experience in non-acute care through its subsidiary Clearday Living, which operates a highly rated residential memory care and adult day care community. Its Longevity Care platform delivers his Clearday solutions wherever people are. Its platform is at the intersection of telemedicine, telemonitoring and patient engagement, all across mobile, wearable and robotic endpoints in his Software-as-a-Service (SaaS) and Robotics as a Service (RaaS) models. Provided. To learn more about Clearday and its pioneering legislative efforts to bring a Revolutionary Cognitive Care Act for Veterans to Congress, visit www.myclearday.com/viveon/.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements are defined as “expects,” “estimates,” “believes,” “continues,” “may,” “intends,” “may,” “plans.” can be identified by the use of terms such as “Possibility”, “Prediction”, “Should”, “Plan”, “Expectation”, “Objective”, “Prediction”, “Prediction”, “Goal”, “Guideline”, “Forecast”, “Effort”, “goal”, “trajectory”, “focus”, “work”, “attempt”, “pursue” or other equivalent terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are specific statements made by the Company in the light of historical trends, current conditions, experience and perception of anticipated future developments, and other factors that the Company believes are appropriate under the circumstances. based on our assumptions and analysis, not a guarantee. about future performance. Actual results may differ materially from those indicated in the forward-looking statements as a result of various factors, risks and uncertainties. These forward-looking statements should not be relied upon as representing Clearday’s views as of any date after the date hereof. This release contains information from third-party sources from public reports providing such information, and the Company has made no independent inquiry or investigation and assumes that such reports are accurate. doing. This communication is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities of the Company.
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210-451-0839
Source: Clearday Co., Ltd.
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