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Cytta Seeking Acquisitions for Home Healthcare Model and Adds Strategic Advisors
CYCA.OB
Monday April 12, 2010, 8:00 am EDT SAN FRANCISCO, CA--(Marketwire - 04/12/10) - Cytta Corp.'s (OTC.BB:CYCA - News) CEO, Mr. Stephen Spalding, wishes to announce that Cytta is diligently striving to develop and introduce a comprehensive home based healthcare system that will address the numerous failings and weaknesses of our current system, such as paper-based systems, aging populations, and increasing rates of chronic disease that are overwhelming even the most efficient health care systems. To further our objectives, the Company is currently negotiating with three different organizations to complete the integration of their very crucial elements into our current technologies and model.
Cytta feels that selected technologies have the potential to move health care to a more proactive, consumer-centric model of care, capable of improving the cost, quality, and accessibility of health care services.
We feel home-based systems are a particularly promising application of health technology. Many remote home health care systems allow individuals to personalize and customize devices, with the goal of enabling greater patient freedom, reducing costs, and improving the ability for patients to be able to follow the wellness and treatment plans created for them by their medical practitioners. As such, Cytta is focused on viewing the home as a locus for health care innovation that may, in the future, compete with the hospital.
We are hoping to implement technology systems that encourage long term care patients (e.g. seniors and those with chronic illnesses) to maintain their physical fitness, nutrition, social activity, and cognitive engagement, so they may function independently in their own homes, for as long as possible, can help to address the social and financial burdens of an aging population.
It is important to understand that the potential savings from implementing limited home based healthcare systems are huge. Limited implementation that would clear up a lot of the errors and redundant testing that currently plague medicine, an improvement that the Center for IT Leadership estimates could save up to $44 billion a year.
It should be realized that recent advances in device connectivity, sensor technology, computing power and the development of complex algorithms for processing health-related data are paving the way for the delivery of innovative long-term health care services in the home in the future. Given the demographics of our rapidly aging population, and rapidly escalating healthcare costs there is a critical need for such innovations if we are to expect a reasonable quality of care at an affordable price.
Our new Patient Protection and Affordable Care Act (PPACA) created an urgency to make providing and managing health care more affordable, with the White House pointing to Congressional Budget Office predictions that 25 percent of our gross domestic product would go toward health care in 2025 if the status quo persisted. We believe that home healthcare, digitization and interconnectivity between payors, providers and medical facilities (both brick and mortar and online) is one major way to generate some of those efficiencies.
Health care is 'playing catch-up' when it comes to innovation, especially technological, says a recent report from PricewaterhouseCoopers. It says the ubiquity of wireless mobile devices such as Smartphones and other internet connectivity devices creates both an opportunity for patients to utilize new delivery systems and a need for medical practitioners to overhaul how they deliver medical care.
We believe that technological developments of the last few years, including medication reminder systems, implanted heart monitors, and other sophisticated home health care systems, will assist the elderly and infirm to live independently, at home, for much longer periods. However, we feel that now is the time to focus our energies on implementing the best systems.
Currently, the federal government has devoted roughly $19 billion in stimulus funds to simply digitizing medical records, but not surprisingly with limited infrastructure, the initiative has gotten off to a slow start. And while there are already plenty of vendors in the medical IT space, and even a handful of mobile or handheld devices on the market, none of them has achieved critical mass. We at Cytta are stressing the need for an integrated systems approach using leading edge devices and integrated applications and devices is needed now more than ever.
Health-care experts like the chief information officer, Harvard Medical School, say the current combination of lower hardware acquisition costs and relative lack of a learning curve (since many people already have Smartphones/computers and Wi-Fi devices) could foster widespread adoption of the newer technologies in health-care settings and pave the way for electronic health records, and other advanced technologies to become the norm in home based patient care.
Along with these advances come valid privacy and security questions arising from the fact that the data collected and transmitted through these technologies could also include individual monitoring as well as unauthorized access to critical diagnostic and other health data. A crucial part of the Cytta model will include serious attention to HIPAA data security compliance, to protect the information which could lead to serious personal consequences for those whose data has been compromised and legal penalties for those responsible.
Stephen Spalding, CEO, is also pleased to announce that Mr. Howdy Kabrins and Mr. Alec Rossa have agreed to join the Board of Advisors of Cytta.
Mr. Kabrins is an experienced entrepreneur with over 35 years of experience building and branding start-up businesses. For each venture he is passionate, hands-on, deeply involved with operations and marketing, and helps build the company with hard work and enthusiasm. The majority of his career has been spent in the manufacturing restaurant and hospitality industry, including founding the La Salsa restaurant chain in 1979, which had over 100 outlets. In recent years he has worked with companies involved in advancing medical technologies, green technology and conceptual technologies. Through Mr. Kabrins' background and education in Latin Studies, he has a firsthand experience of availability and lack of availability of healthcare to the underserved in the US population.
Mr. Rossa is currently the President of MD Charlton Co. Ltd., a major importer, developer and distributor of law enforcement, military, security and training technologies and equipment. His Company distributes and supplies these devices and technologies to all of the Police Forces and Military departments in Canada as well as some international sales. Past accomplishments include being ranked by Profit magazine twice in the top 100 fastest growing companies in Canada. Mr. Rossa joins our Advisory board with over 25 years of international and domestic sales and marketing experience as well as international manufacturing. He will perform an active and important role in the development, manufacturing, marketing and distribution of our new products.
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I think just based on the way this is trading it'd setting up for a good move again, it looks like .002 may be the springboard.
Posts: 77 | Registered: Jan 2010
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Cytta Stitching Together e-Health Model With Additional Medical Expertise
SAN FRANCISCO, CA -- (Marketwire) 05/05/10 Cytta Corp's (OTCBB: CYCA) CEO Mr. Stephen Spalding wishes to announce that Cytta is diligently continuing its discussions with several innovative technical and software-based organizations working to develop and implement the various elements which go into the current e-Health strategy as well as negotiations with providers interested in utilizing the model being embraced by the Company.
To aid the Company in it sobjectives it is pleased to announce that Dr. William Blase is also adding his considerable expertise to the Cytta Project by joining the Board of Advisors. Dr. Blase has had a distinguished career in all aspects of the medical profession, with a practice emphasis on Ophthalmology, a background in medical research, as well as administration and management issues of modern medical practice.
Dr. Blase has envisioned and actively worked to develop and introduce a comprehensive home-based healthcare system for the past decade. Dr. Blase will be focusing on assisting the Company with selecting and developing technologies that have the potential to move healthcare to a more proactive, consumer-centric model of care, capable of improving the cost, quality, and accessibility of healthcare services utilizing the full range of technologies accessible to the market.
Dr. Blase was also pleased to note that the new Patient Protection and Affordable Care Act (PPACA) and the effect e-Health could play was subject of the Senate Committee on Aging last week which examined some of the potential benefits of the Act on distribution of healthcare, and examined how Americans will interact with doctors and other health care providers utilizing e-Health.
The effort, loosely called e-Health or e-Care, combines leading edge healthcare technology with 21st-century Internet and other connectivity. It will allow doctors to interact with their patients through innovations such as video monitoring, cellular or internet checkups, and home-health monitoring devices that relay data over cellular or wireless Internet connections. The realization that e-Health will allow significant improvements in outcomes while reducing overall costs is truly encouraging
Dr. Blase has over the years been involved in several technology ventures, most with an emphasis on improving the dissemination of medical information or utilizing Internet technology to improve the delivery of medical services. Dr Blase's experience and skill in dealing with the multitude of private, state and federal medical administrative/service organizations, insurance companies and drug companies will be of enormous value as the Cytta project proceeds.
Dr. Blase is formerly the Chairman of the Department of Ophthalmology at the Hemet Valley Hospital and a Director of California Eye Care. Dr. Blase was also a Trustee for a California District Hospital System. Dr Blase has also served eight years as a Trustee of the Valley Health System in Riverside California and was formerly the Chairman of the Board, as well as a Trustee of the Employee Health, Pension, and Retirement Funds
Dr. Blase is also a Diplomate of the National Board of Medical Examiners, the American Board of Ophthalmology, and has published numerous articles and several book chapters. Dr. Blase is a graduate of Dartmouth College, the University of Virginia School of Medicine and Oxford University, and did his medical post graduate training at Johns Hopkins in Baltimore MD.
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Closed out my position here for a rough double, seems like recent news is fluff. Made out OK though, and there doesn't seem to be any dilution, so GL if you're in it.
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