Clearday, Inc. announced that the Company's “Companion Robotics” for elder care, was selected as a “Revolutionary Elder Care Solution” by TRECS Institute, which will be the basis of a Joint Venture between two companies to accelerate Clearday's robotic sales initiatives in the skilled care and nursing home industry, with additional vertical solutions to be explored. These facilities focus on post-acute and long-term care, including dementia care and rehab services, represent a significant market that Clearday believes, with the Joint Venture, is a breakout opportunity for the Clearday Companion Robot. Clearday and TRECS will identify and pursue various grant opportunities in all 50 States that may fund the acquisition of Clearday Companion Robot by skilled nursing facilities to help better serve their residents and support their staff.

TRECS expects to develop a program to track Clearday Companion Robot such as enhancing resident engagement, reducing isolation and supporting the staff of each participating facility to better serve the residents entrusted to their care. The shortage of caregivers in skilled and nursing care is well documented. The National Alliance for Caregivers reported that COVID-19 accelerated the loss of caregivers since 2020 to over 1 million workers and that, in the U.S., approximately 40,000 nurses have left the industry since February 2020, leaving a crisis-level shortage.

Clearday and TRECS expect to use the Clearday Companion Robot and related services to help support nursing staff to better and more effectively serve their patients.