DEL MAR, Calif., Dec. 21, 2010 (GLOBE NEWSWIRE) -- Ernest B. Remo, Chairman/CEO, announced today that American Diversified Holdings (Pink Sheets:ADHC) has signed a software development agreement with Com-Guard, Inc., a San Diego based technology firm, to create a mobile application platform in the mHealth arena specifically designed for the Apple® iPhone™, iPod Touch ™, iPad™ and other mobile platforms including the Android™ platform developed by Google.
"We are collaborating with researchers that have established quick and easy screening tools which can reveal changes in older adults' basic mental abilities over time. These test are completed by an "informant" close to the patient and can lead to identifying early stage dementia. Early diagnosis is key to treating degenerative diseases. Many patients are not diagnosed until the symptoms become so severe they are unable to perform daily living tasks. Offering these screening tests over a mobile handheld application is a perfect use of mHealth technology that can actually work to improve the quality of health care, reducing costs and benefiting patients," commented Ernest Remo, CEO of ADHC.
"We are excited to partner with American Diversified Holdings and their scientific advisers in developing mHealth technologies at the forefront of the secure mobile software field. We envision developing applications that will aid in the collection, analysis and presentation of data for the healthcare market, specifically focused on dementia related disorders such as Alzheimer's and Dementia related diseases," commented Dr. Edward W. Saverese, CEO of Com-Guard.
Com-Guard, Inc. has been developing software in the security and data protection markets for over ten years and we look forward to taking that expertise into the mobile platform market. Pursuant to the agreement Com-Guard will be paid consulting fees and royalties based upon milestones and development targets.
Com-Guard has recently received the software developer's license from Apple and is reviewing the software tools for the Android platform.
"The U.S. congress has recently passed legislation to create a National Alzheimer's Project to coordinate the country's approach to research, treatment and care-giving for this disease. The goal is to accelerate the development of treatments that would prevent, halt or reverse the course of Alzheimer's, and improve the early diagnosis of Alzheimer's disease and coordination of the care and treatment of citizens with Alzheimer's," added Ernest Remo, CEO of ADHC. "The massive cost of treating this disease exceeded $170 billion in 2009 and is expected to massively increase to $800 billion by 2050. The number of Alzheimer's and Dementia patients is expected to grow from 5.3 million to over 20 million during this time frame. We believe these statistics offer a tremendous opportunity to build our mHealth business unit and create unique and innovative technologies that will assist researchers and healthcare practitioners in curing this disease, relieving the suffering of millions."
ABOUT ALZHEIMER'S DISEASE
Alzheimer's is the most common form of dementia, a general term for memory loss and other intellectual abilities serious enough to interfere with daily life. Alzheimer's the 7th leasing cause of death in the U.S. The disease affects approximately 5.3 million people domestically and over 30 million people globally, accounting for 50 to 70 percent of dementia cases. The U.S. cost of treating this disease exceeded $170 Billion in 2010 and is expected to increase to $800 Billion by 2050 as the aging population and early detection increases the incidence of Alzheimer's to over 20 million people in the U.S. and over 100 million people globally. Currently there is no cure for the disease but there are many therapies that can alleviate and delay the onset of symptoms. Up to 5 percent (250,000) of people with the disease have early-onset Alzheimer's (also known as younger-onset), which often appears when someone is in their 40s or 50s. No treatment is available to slow or stop the deterioration of brain cells in Alzheimer's disease. The U.S. Food and Drug Administration has approved five drugs that temporarily slow worsening of symptoms for about six to 12 months, on average, for about half of the individuals who take them. Researchers have identified treatment strategies that may have the potential to change its course. Approximately 90 experimental therapies aimed at slowing or stopping the progression of Alzheimer's are in clinical testing with human volunteers. For more information please visit www.alz.org, the National Alzheimer's Association's website.
The Assisted Living Industry
The U.S. nursing home and assisted living industry includes about 75,000 establishments with combined annual revenues of about $175 billion.
About one million Americans live in assisted living facilities. This number is expected to more than double by 2030. With the current cost to live in an assisted living facility at $3,000 to $4,500 per month, financing options like reverse mortgages are being used to fund assisted living homes.
According to the U.S. Census Bureau, the number of people in the United States between the ages of 65 and 84 will increase by almost 40% between 2010 and 2020. As of 2006, retirement community residents were 69% female and 31% male. In fact, the typical resident in an assisted living facility is an 85 year old female. People over 85 years old make up the largest percentage of people in assisted living facilities.
The healthcare industry is among the fastest growing handheld device markets, and should hit $8.8 billion this year (Kalorama Information). Sales estimates for the iPad have been hovering around 3 million to 4 million units in calendar-year 2010. Gartner's predictions for 2010 are 4.5 billion apps downloaded, for a total of $6.2 billion in revenue. Predictions for 2013 increase to 21.6 billion apps downloaded for a total of $29.5 billion revenue.
American Diversified Holdings Corporation
American Diversified Holdings Corporation is developing a platform for the Mobile Health Care Market as the medical profession gears up to go electronic not only for medical records but also for direct patient monitoring and information. ADHC's mHealth Division will Focus on Mobile Health Care Applications for iPhone™, iPad™, Android™ and Other Mobile Devices. ADHC is developing applications for the iPhone, iPad, Android and Other Mobile Devices tailored for specific ailments and protocols to allow medical professionals to monitor patients, get instant feedback and constantly adjust treatments to allow greater flexibility and response time in meeting individual patient needs. mHealth or mobile Health is a term used for the practice of medical and public health, supported by mobile devices. The term is most commonly used in reference to using mobile communication devices, such as mobile phones for Health Services and information.
This press release contains forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Act of 1995. These statements include risks and uncertainties that may cause the Company's plans to change and are in no way intended to guarantee that the Company will be successful in executing its plans. American Diversified Holdings common stock currently trades on the over the counter "Pink Sheets" under the symbol ADHC. This press release in no way constitutes any recommendation regarding the securities of ADHC or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all the facts and circumstances regarding the business and financial condition and prospects of ADHC, and no inference has been made that this release contains all such information.