CareView Communications, Inc. ("CareView" or the "Company") (OTCQB:
CRVW), an information technology provider to the healthcare industry,
announced today its financial results for the fourth quarter and year
ended December 31, 2013.
CareView ended 2013 on a positive note showing significant improvements
in net revenue growth and reduction of EBITDA losses. CareView increased
its net revenue over 2012 by a margin of over 26% and decreased EBITDA
losses by a margin of over 44%. 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.
CareView's fourth quarter 2013 versus fourth quarter of 2012, shows a
dramatic improvement. Net revenues from the fourth quarter 2012 compared
to fourth quarter 2013 show an increase of over 130% and negative EBITDA
numbers from the fourth quarter 2012 were reduced in fourth quarter 2013
from an EBITDA loss of $2,768,000 to an EBITDA loss of $960,000.
These improvements in the financial condition of CareView are directly
attributable to an increase in additional hospital contracts resulting
in increased billable RCPs and Nurse Stations.
Steve Johnson, the Company's Chief Executive Officer, commented on the
Company's results for the year ended December 31, 2013, and stated, "We
are pleased to see such a strong fourth quarter of 2013 and expect that
the continued progress in hospital sales will be even more evident in
2014. Management believes that we are at an inflection point with
CareView, where the market is now responding to the quality improvement
and cost savings that CareView offers to hospitals. If present
indicators and signed contracts continue as management anticipates, 2014
will be a tremendous year for CareView."
About CareView Communications, Inc.
CareView's mission is to be the leading provider of products and
on-demand application services for the healthcare industry by
specializing in bedside video monitoring, archiving and patient care
documentation systems and patient entertainment services. Through the
use of telecommunications technology and the Internet, our products and
on-demand services will greatly increase the access to quality medical
care and education for both consumers and healthcare professionals. We
offer the next generation of patient care through our unique data and
patient monitoring system that connects patients, families and
healthcare professionals (the "CareView System®"). Our
proprietary, high-speed data network system may be deployed throughout a
healthcare facility to provide the facility with recurring revenue and
infrastructure for future applications. Real-time bedside and
point-of-care video monitoring and recording improve efficiency while
limiting liability, and entertainment packages and patient education
enhance the patient's quality of stay. Through continued investment in
patient care technology, we are helping hospitals and assisted living
facilities build a safe, high quality healthcare delivery system that
best serves the patient, while striving for the highest level of patient
satisfaction and comfort. 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, TX 75067. More information about the Company is available on
the Company’s website at www.care-view.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy securities of CareView Communications,
Inc. Certain statements in this release are “forward looking statements”
within the meaning of the federal securities laws. Statements regarding
future events and developments and our future performance, as well as
management’s expectations, beliefs, plans, estimates or projections
relating to the future are forward-looking statements within the meaning
of these laws. The forward-looking statements are subject to a
number of risks and uncertainties including market acceptance of the
Company’s services and projects and the Company’s continued access to
capital and other risks and uncertainties. The actual results the
Company achieves may differ materially from any forward-looking
statements due to such risks and uncertainties. These statements
are based on our current expectations and speak only as of the date of
such statements. The Company undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result of
future events, new information or otherwise.
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