careview communications inc (CRVW) Key Developments
Careview Communications, Inc. Announces Agreement with Parkland Health & Hospital System
Jul 7 15
CareView Communications, Inc. announced that upon the completion of a pilot program with Dallas County Hospital District d/b/a Parkland Health & Hospital System, Parkland executed an agreement for CareView to install its CareView System initially in 408 beds in the new 2.1 million square-foot facility which will open in August 2015. CareView Communications will install its products and services for 480 beds at Parkland, including its Primary Package (with SecureView®, PhysicianView®, NurseView®, SitterView™, Virtual Bed Rails® and Virtual Chair Rails™ modules, the CareView Fall Management Program® and Rounding Alerts), its GuestView Services Package (with PatientView®, MovieView®, BabyView® and NetView®), and additional services including the Sitter Management Program, Ulcer Management Program, Nursing Alerts and the CareView Broadcast System.
CareView Communications Announces $40 Million Financing Transaction with PDL Biopharma
Jun 29 15
CareView Communications, Inc. announced that it has entered into a credit agreement with PDL BioPharma, Inc. whereby PDL will provide CareView with up to $40 million of secured debt financing. Under the credit agreement, PDL will provide CareView with up to $40 million of debt financing in two tranches of $20 million, based upon the achievement of specified milestones. Each tranche has a five year maturity. PDL will receive interest on the principal amount outstanding and a security interest in substantially all of CareView’s assets. As part of the transaction, PDL received a warrant to purchase approximately 4.4 million shares of common stock of CareView at an exercise price of $0.45 per share.
CareView Communications, Inc. Institutes Paid Pilot Program with HCA Hospital
May 27 15
CareView Communications, Inc. has executed a pilot agreement with Research Medical Center (RMC), part of HCA’s Mid-America Division. Under the paid pilot program, CareView installed 267 beds at RMC. RMC will implement CareView’s entire suite of clinical and patient services including motion detection software that provides caregivers another tool to care for patients who are at risk for falling or require a heightened level of visibility. RMC will share data collected through the pilot program with CareView, including reports on the number of falls prevented and the level of patient satisfaction with the new technology.
CareView Communications, Inc. Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2014
Apr 7 15
CareView Communications, Inc. announced financial results for the fourth quarter and year ended December 31, 2014. For the fourth quarter 2014 versus fourth quarter of 2013, shows a dramatic improvement. Net revenues from the fourth quarter 2013 compared to fourth quarter 2014 show an increase of over 52% and negative EBITDA numbers from the fourth quarter 2013 were reduced in fourth quarter 2014 from an EBITDA loss of $4,131,000 to an EBITDA loss of $3,634,000.
The company increased its net revenue over 2013 by a margin of over 48% and decreased EBITDA losses by a margin of over 3%. While the overall yearly improvement shows positive acceptance by the market and continued efforts by the Company to reach profitability, the fourth quarter trends have a much higher sign of positive impact. These improvements in the financial condition are directly attributable to an increase in additional hospital contracts resulting in increased billable RCPs and Nurse Stations.
Careview Communications, Inc. Executes Contract with Gerald Champion Regional Medical Center
Nov 19 14
CareView Communications, Inc. announced the execution of a two-year hospital contract with Gerald Champion Regional Medical Center in Alamogordo. Gerald Champion Regional Medical Center brings the Alamogordo community and the Holloman Air Force base together in this shared facility. Under the renewable agreement, CareView will install its entire line of CareView System(R) products and services for the hospital's 96 licensed beds including innovative modules to help prevent patient falls and reduce sitter costs through the use of hand-held tablets and mobile phones connected into the hospital's existing communication system.