The ICA’s user-friendliness, sensitivity, absence of learning effect and remote capability render it naturally suited to deployment in the ever-growing elderly care sector
Vancouver, British Columbia, September 14, 2021 – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN; OTCQB: CGNSF; FWB: 1UB) today announced that it has reached an agreement with Loveday & Co regarding the deployment of the Integrated Cognitive Assessment (ICA) in the specialist dementia and senior care provider’s practice.
Loveday is the only dedicated operator of specialist memory care in the UK. It offers a variety of tailored services to its elderly members, including residential and “day club” environments, as well as home care.
Loveday’s philosophy is to go “above and beyond” for its members and their families, providing world-class hospitality and care that takes a highly active approach to dementia management. Its flagship residence, Loveday Chelsea Court Place, located on King’s Road, was recently rated “Outstanding” by the Care Quality Commission, and three more central London residences are set to open in 2022.
Cognetivity’s ICA will be deployed within Loveday’s practice to monitor the cognitive health of its members. This will enable the Loveday team to identify when certain interventions may be needed and ensure members receive an appropriate, best-in-class care plan at the earliest possible stage. As shown in previous clinical deployments, the ICA is capable of supporting the whole patient journey, from the screening of at-risk individuals and assessment during the diagnostic process to longer-term monitoring.
The precise nature of the ICA will allow for a personalized and data-driven approach, supporting the many programs run by Loveday that target the modifiable risk factors of dementia, such as nutrition, exercise and social support. Several other key features of the ICA render it perfectly suited to the Loveday environment: its user-friendliness, its sensitivity to small changes in cognitive performance, and the absence of a learning effect upon repeat testing. The ICA’s simple test format and its lack of need for administration by a healthcare professional also enable remote testing and monitoring from the comfort of people’s homes.
As such, the ICA has proven itself ready-made for the elderly and long-term care sector, in addition to its existing deployments in more conventional clinical settings, notably as an end-to-end solution within primary, secondary and community care in the UK’s National Health Service (NHS). This sector is forecast to grow substantially in the coming decade, as the world’s population grows older and around 10 million new cases of dementia are diagnosed each year. The global long-term care market is expected to reach USD 1.7 trillion by 2028, growing at an annual rate of 7.1%.
Commenting on the announcement, Gabriela Zackova, Director of Wellbeing and Dementia at Loveday & Co, said, “We’re thrilled to be implementing the ICA in our practice. At Loveday, we believe that our members deserve dignity and a high quality of life regardless of any conditions they are living with. I am confident that Cognetivity’s innovative, industry-leading tool will support us on that mission, and I greatly look forward to seeing it deployed soon.”
Dr Sina Habibi, Cognetivity’s CEO, said, “We’re very excited at the prospect of supporting Loveday’s fantastic work. Clearly, we have very similar goals – to push the boundaries of what is conceivable and achievable when it comes to health outcomes and the quality of life we as a society can envisage for our elderly loved ones.”
“What’s also exciting for us at Cognetivity is to see ourselves branching out from more traditional assessments in the hospital clinic and into the residential and home care environments,” he continued. “This is going to be a more and more important area as time goes on, and the fact that the ICA is naturally so well-suited to it means that we can be confident of playing an increasingly large role in the years to come.”
About Cognetivity Neurosciences Ltd.
Cognetivity is a technology company that has created a cognitive testing platform for use in medical, commercial and consumer environments. Cognetivity’s ICA uses Artificial Intelligence and machine learning techniques to help detect the earliest signs of impairment by testing the performance of large areas of the brain to support diagnosis of dementia. It has achieved regulatory approval for clinical use in the UK and Europe with future clinical approval anticipated in North America and elsewhere in the world.
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SOURCE Cognetivity Neurosciences Ltd.