Arjo acquires equity stake in Atlas Lift Tech – a Silicon Valley tech-company offering patient handling solutions and real-time efficiency analytics
Today, Arjo has acquired substantial equity in Atlas Lift Tech, thereby gaining a seat on its Board of Directors. Atlas, a Silicon Valley-based company, transforms the way in which care delivery organizations deploy and manage comprehensive mobility programs through their innovative Lift Coach Model and Mobility Tracking Software Platform.
Atlas’ Lift Coaches integrate themselves into each healthcare facility and empower care providers through bedside training methods, thereby reducing injuries and mitigating risks, while boosting overall morale. Atlas’ proprietary software system, LiftTracker, is embedded into each facility to provide real-time task tracking and scheduling. Together, the LiftTracker software and data collection devices provide Big Data insights, leading to better patient handling processes and improved clinical outcomes.
Patient mobilization and repositioning has been demonstrated as a safe and feasible manner of improving clinical outcomes for patients and financial benefits to healthcare providers. Reduced mobility can lead to a long line of negative side effects for patients, including lost muscle strength, pressure injuries, infection and an increased risk of falls, as well as despondency and depression.
“By combining our offering and Atlas’ solutions, we will help our customers address challenges of mobility in an effective manner, while providing data and evidence for improved clinical outcomes. This collaboration gives us a strong platform to offer a unique end-to-end solution, with the mutual goal of reducing caregiver injuries and improving patient care, while creating efficiencies for healthcare facilities. Further, we gain access to Atlas’ strong Silicon Valley network to help drive innovations and new practices within patient handling and mobilization,” says Joacim Lindoff, President & CEO of Arjo.
The improper mobilization of patients can come at a cost for healthcare professionals. A significant cause of missed work days in hospital workers is related to overexertion or related movements, including lifting, bending and reaching.* These movements are often performed during patient lifts and transfers, and can cause long-term health issues for care professionals and significant inefficiencies for care facilities.
Established in 2009, Atlas is a dynamic company with a solid growth trajectory. During the third quarter of 2018, Arjo and Atlas began exploring the possibilities of gaining market share in the US through the mutual goal of improving clinical outcomes through mobilization. The investment and commercial collaboration is expected to have a positive impact on Arjo’s net sales, gross margin and earnings per share already in 2019, delivered by an increased growth within the Patient Handling portfolio. There is a performance-based option for Arjo to acquire additional equity in Atlas.
“Arjo is a trusted partner with a strong reputation worldwide, and like Atlas, shares the goal of optimizing the care experience for patients and caregivers. Together with Arjo’s market leading equipment and clinical expertise, and Atlas’ operational precision and innovative technology, we can now develop the next generation Mobility Program. We will assist clients and care staff to attain proven and effective practices, while improving patient safety. This will give a platform to produce a thriving and sustainable culture of safety, where customers will not have to choose between caregiver and patient safety,” adds Eric Race, President & Founder of Atlas.
The transaction is subject to customary closing conditions.
*OSHA, 2011
About Atlas
Founded in 2009, Atlas Lift Tech is transforming the way care delivery organizations nationwide deploy and manage safe patient handling and mobility (SPHM) programs. Atlas provides proven and effective practices that reduce caregiver injury, promote patient safety, and produce a thriving and sustainable culture of safety. Working together with a facility's interdisciplinary team, Atlas identifies opportunities for integration of an SPHM program customized to the unique requirements of each facility. www.atlaslifttech.com.
For further information, please contact:
Kornelia Rasmussen, Marketing Communications & Public Relations
Tel: +46 (0)10 335 4810
Email: kornelia.rasmussen@arjo.com
Saloni Deva, Corporate Communications & Investor Relations
Tel: +46 (0)10 335 4867
Email: saloni.deva@arjo.com
Jenna Lindgren, Head of Sales & Marketing at Atlas Lift Tech
Tel: 925 271 9020
Email: jlindgren@atlaslifttech.com
This information is information that Arjo AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:45 CET on July 11 2019.
About Arjo
At Arjo, we are committed to improving the everyday lives of people affected by reduced mobility and age-related health challenges. With products and solutions that ensure ergonomic patient handling, personal hygiene, disinfection, diagnostics, and the effective prevention of pressure injuries and venous thromboembolism, we help professionals across care environments to continually raise the standard of safe and dignified care. Arjo has approximately 6,000 employees worldwide and customers in over 100 countries. In 2018, Arjo sales amounted to approximately SEK 8.2 billion. Arjo is listed on Nasdaq Stockholm and its head office is located in Malmö, Sweden. Everything we do, we do with people in mind. www.arjo.com.
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