More Business News:
CareView Communications, Inc. Announces Engagement of DLA Piper, LLP (US)
LEWISVILLE, Texas -- CareView Communications, Inc. ("CareView" or the "Company") (Pink Sheets: CRVW), an information technology provider to the healthcare industry, announced that it has engaged DLA Piper, LLP (US) ("DLA Piper") in connection with the structuring and negotiation of a financing facility securitized by its contracts to provide the CareView SystemTM to hospitals with institutional investors. The engagement contemplates DLA Piper assisting CareView in developing and structuring up to $50 million in a financing facility securitized by contracts to provide the CareView SystemTM to hospitals utilizing the highly stable revenue stream therefrom as collateral. DLA Piper will introduce CareView and the financing facility to institutional investors participating in the structured finance area where they have existing relationships.
"We are delighted to have a firm with such outstanding credentials as DLA Piper assist us with the securitization of our contracts in order to access the institutional markets. DLA Piper's experience and track record of highly successful securitizations affords us the opportunity to fund our growth at CareView in the most advantageous manner for our shareholders," stated Steven Johnson, CareView's President and Chief Operating Officer.
"CareView is a dynamic leader in the area of healthcare technology and we are very pleased that they have selected DLA Piper to advise them in this important project," said Jonathan Black, partner at DLA Piper. "We look forward to working with CareView to create a financing vehicle which will help them grow their platform and achieve their strategic business objectives."
The CareView SystemTM is a suite of products that brings the information technology of the 21st century directly to patients, families and healthcare providers by connecting them through one easy-to-install and simple-to-use system. This collaboration will allow the medical facility to provide:
• The ability to implement audit tools to ensure that quality standards are being met and safety measures are being complied with, as both will be used to further educate caregivers at the medical facility to continually enhance quality and safety for their patients.
• Doctors, nurses and other healthcare providers with the ability to efficiently and cost-effectively monitor, treat and visit their patients.
• Family members and friends with the ability to use the Internet to monitor, visit, and correspond with their loved ones who are patients at the medical facility.
• Patients and their visitors with direct access to on-demand high-speed Internet and first run movies in their rooms.
About CareView Communications, Inc.
CareView has created a proprietary high-speed data network system that can be deployed throughout a healthcare facility using the existing cable television infrastructure. This network supports CareView's Room Control Platform (RCP) and complementary suite of software applications designed to streamline workflow and improve value-added services offered to customers. Real-time bedside monitoring and point-of-care video monitoring and recording improve efficiency while limiting liability, and entertainment packages and education enhance quality of stay. This technology may also act as an interface gateway for other software systems and medical devices moving forward. CareView is dedicated to working with all types of hospitals, nursing homes, adult living centers and selected outpatient care facilities domestically and internationally. Corporate offices are located at 405 State Highway 121 Bypass, Suite B-240, Lewisville, Texas, 75067. Questions may be directed to John R. Bailey, Chief Financial Officer at (972) 943-6050. More information about the Company is available on the Company's website at www.care-view.com.
About DLA Piper, LLP (US)
DLA Piper has 3,500 lawyers in 67 offices throughout the US, UK, Continental Europe, Middle East and Asia. With a direct presence in nearly 30 countries, DLA Piper represents more clients in a broader range of geographies than virtually any other law firm in the world. Building strong and substantial client relationships is the compass for DLA Piper's business strategy and future development.
