Wellstar signs LOI with Fairhills Capital

The financing will be used to implement a special leasing program in support of Wellstar’s wholly owned subsidiary Trillennium Medical Imaging’s launch of its thermal imaging system. The company’s thermal imaging system, which detects early signs of pressure ulcers, will be marketed to long-term care (LTC) facilities in the US with this special leasing program as an option.

According to Wellstar, the lease program allows the systems to be more affordable and essentially a ‘must-have’ for LTC facilities that are seeking to curtail potential liabilities and receive a higher rating from the Centers for Medicare & Medicaid Services (CMS) under the agency’s ‘pay for performance’ standards. These standards by the CMS, which will soon be effective, will support better care coordination for patients with chronic illnesses among healthcare service facilities, the company added.

John Antonio, CEO of Wellstar, said: “We are pleased that Fairhills Capital shares our excitement and eagerness to begin rolling out our thermal imaging systems. The epidemic of bed sores continues to rise and we anticipate the demand for these systems among just the long-term care facilities to be tremendous.

“We have an enormous and largely untouched market to go after with our revolutionary system. With early detection of this very serious epidemic, we have the ability to help save and extend many lives.”