03:00 Wed 10 Jun 2020
Adams PLC - Investment
("Adams" or the "Company")
Investment in Oxehealth Limited ("Oxehealth")
The Directors announce that, on 9 June 2020, Adams committed to subscribe for 21,630 new ordinary shares of
The Company's total holding of 21,630 ordinary shares of
As a result of
About Oxehealth
Oxehealth is involved in vision-based patient monitoring and management, using proprietary signal processing and computer vision to process normal digital video camera data to measure the vital signs and activity of patients. This is achieved through the deployment of their Digital Care Assistant (DCA) platform which consists of a fixed installation camera and illuminator, monitoring screens and software modules including the Vital Signs module, a Class IIa medical device cleared in
The system offers measurable benefits in helping clinicians to improve the safety of both patients and carers. Since its commercialisation in 2018, the DCA been deployed into a number of different markets, primarily in Mental Health,
These partners have seen improvements in safety, quality and efficiency, with recent data* demonstrating:
· 48% reduction in falls in dementia facility
· 68% reduction in A&E visits from the dementia facility
· 49% reduction in emergency service visits
· 71% reduction in spend on enhanced observations
Recently, Oxehealth has reported that clinicians have made increasing use of the Oxehealth Service when caring for patients with COVID-19, both in Mental Health and also in Primary Care settings (General Practitioner COVID-19 Triage Hubs), due to its ability to limit clinician to patient contact whilst helping to maintain patient safety remotely.
With non-contact monitoring becoming increasingly important and clinically relevant, Oxehealth plans to further expand into
The last filed accounts for Oxehealth are for the year ended
Further information on Oxehealth is available on the Oxehealth website www.oxehealth.com.
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
*Source data published in early 2020 by
Enquiries:
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Tel: +44 1534 719 761 |
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Nomad |
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Tel: +44 207 213 0880 |
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Broker |
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Tel: +44 207 469 0930 |
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
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