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Mylo Connect is an innovative solution in the medical industry
The COVID-19 pandemic has created a humanitarian crisis like no other, with over one hundred and twenty million people infected by the virus and more than two 5.2 million deaths worldwide (as at December 2021). The speed and depth of disruption caused by the pandemic is creating unprecedented challenges for societies and economies across the globe. The strain has been felt most on the frontline of healthcare delivery, with no group more exposed and at risk than our elderly and infirm. Mylo Connect is already being used by health authorities throughout the UK.
COVID-19 has put the MedTech industry at center stage with unparalleled demand for remote monitoring, diagnostic tests, PPE, ventilators, and other critical medical supplies.
Staffing shortages in home care, nursing homes, hospitals, community care, group homes and disability services are in crisis throughout the world – at the same time that we are coping with an ageing population with a high expectation of independence and health services that are crippled by ever-rising costs. Something has to give!
MYLO CONNECT is an innovative solution that will help our healthcare partners overcome key challenges in their day-to-day healthcare practices and within care settings. MYLO CONNECT collaborates & innovates in a highly competitive and specialised industry, Our approach to R&D encompasses a broader spectrum of partners and a more expansive mindset.
What does Mylo provide?
Mylo is a monitoring companion robot, paired with a health sensor watch, designed to help people with dementia to retain their independence while living at home or with their families, easing the stress involved with caring and being cared for.
Having a Mylo in the home means that his user (the individual who requires care and support) can retain a large degree of independence by being alone safely during the day or night – going about their daily living routine with gentle prompts from Mylo. Mylo not only allows the user to retain their independence for longer but also makes it easier for the family member to care for the user (i.e. their mother or father) during the day or night from wherever you may be.
The Solution - "MYLO"
MYLO is the most advanced robot on the market (see competitor matrix) designed for elderly care. MYLO`s advanced edge processing and multiple application integrations deliver a best-in-class solution for patient monitoring & communications.
Mylo Health Monitoring
- Smart Wearable
- Heart Rate Monitoring & Response
- Nutritional & Hydration Prompting
- Remote Video Monitoring
- Family Direct Communication
- GP/Consultant Video Communications
- Fall Prevention / Detection & Response (HSE Pilot)
- Activity Prompting
- Entertainment & Engagement
- Blood Pressure/SPO2*
- Smart Stethoscope*
- Incontinence Detection*
Mylo is a 'personal home assistant' for people living with dementia and their family. An affordable monitoring, companion and support robot for individual use to prolong independence, aiding access to a better quality of life for an individual and their carers.
We approached Mylo's development from a different perspective. We wanted to alleviate some of the stress and worry involved with caring for a family member or a resident with Alzheimers or Dementia, whilst promoting and maintaining the independence of our users.
Mylo Connect has been provided Advance Assurance for EIS tax relief by HMRC
EIS – Enterprise Investment Scheme – is a UK government scheme designed to help smaller higher-risk trading companies raise finance, by offering a range of tax relief to investors who purchase new shares in those companies.
The benefits of EIS tax relief:
- Investors can claim up to 30% income tax relief on investments up to £1 million per tax year
- Any gain is Capital Gains Tax (CGT) free if the shares are held for at least three years
- Payment of CGT can be deferred when the gain is invested in shares of an EIS qualifying company
- If the shares are disposed of at a loss, investors can elect that the amount of loss be set against any income tax of that year or of the previous year
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