Arlo Acquires Aloe Care Health, Expanding Arlo SaaS Platform to Support Aging in Place and Wellness Care
Acquisition will accelerate Arlo’s reach into new markets with the addition of AI-powered care services to address fastest-growing age segment of adults 65 and older
Transaction aligns with Arlo’s strategy to leverage its strong capital position to further fuel growth as paid accounts surpass the 6 million mark
SAN JOSE, Calif.–(BUSINESS WIRE)–Arlo Technologies, Inc. (NYSE: ARLO), a leading provider of smart security services, announced today that it has completed the acquisition of Aloe Care Health, a leading AI-powered medical alert and fall prevention platform that delivers improved outcomes for patients and their caregivers. With 87% of adults over 65 looking to stay in their current home and 90% of U.S. homes not “aging ready” according to the U.S. Department of Health and Human Services, the acquisition of Aloe Care Health accelerates Arlo’s AI-powered services for aging-in-place care in collaboration with healthcare providers, patients and their families.
Growing nearly five times faster than the total population, adults 65 and older represent 1 in 6 Americans, with other countries globally experiencing a similar trend1. The addition of Aloe Care Health accelerates Arlo’s expansion of its award-winning portfolio of smart home security solutions to address this fastest-growing segment of the population. With Aloe Care’s portfolio of unique, patented hardware, advanced ambient sensing technology, AI-driven fall prevention, family caregiving app, and wellness services, coupled with advanced emergency response and smart call triage routing, patients will enjoy faster, easier coordination of care that delivers better health outcomes with lower costs driven by a reduction in hospitalizations.
“Today’s announcement highlights Arlo’s entry into an enormous, underserved market that demands innovation and new services to enable an appropriate level of care at home,” said Matthew McRae, CEO of Arlo Technologies. “We are excited to combine Aloe Care’s class-leading solutions with Arlo’s scaled, AI-driven, and privacy-first SaaS platform to maximize the impact in this critical market.”
“Older adults and their caregivers are embracing technology to support aging in place, and demand for smarter solutions is accelerating rapidly,” said Evan Schwartz, CEO and Co-Founder of Aloe Care Health. “We are thrilled to be joining Arlo to further innovate on the aging-in-place experience, delivering proactive services driven by data and leveraging the capabilities of Arlo’s robust AI-powered SaaS platform to address the global smart home healthcare market that is expected to grow to $285 billion by 20342.”
For more information on the full range of Arlo’s portfolio of smart home solutions, visit www.arlo.com.
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2https://www.precedenceresearch.com/smart-home-healthcare-market |
About Arlo Technologies, Inc.
Arlo is an award-winning, industry leader that is transforming the ways in which people can protect everything that matters to them with advanced home, business, and personal security solutions. Arlo’s deep expertise in AI- and CV-powered analytics, cloud services, user experience and product design, and innovative wireless and RF connectivity enables the delivery of a seamless, smart security experience for Arlo users that is easy to set up and interact with every day. Arlo’s cloud-based platform provides users with visibility, insight, and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. Arlo has recently launched several categories of award-winning connected devices, software, and services. These include wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells, floodlights, security system, and Arlo’s subscription service, Arlo Secure.
With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to implementing industry standards for data protection designed to keep users’ personal information private and in their control. Arlo provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent Arlo’s expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding the development, features and performance of Arlo’s services and products, including strategic objectives and initiatives, such as our capital allocation plan and partnerships; the recurring revenue business model; expectations regarding the size of the smart home security and aging-in-place markets, Arlo’s entry into new markets, the potential size and growth rates of those markets, the ability to grow Arlo’s business, and subscriber growth, adoption, and attachment rates. These statements are based on management’s current expectations and are subject to certain risks and uncertainties, including that consumers may choose not to adopt Arlo’s new product and/or service offerings, or may adopt competing products and/or services; we may not fully realize the benefits or potential of our partnerships; product and/or service performance may be adversely affected by real-world operating conditions; changes to trade agreements, trade policies, increased tariffs and import/export regulations may negatively affect Arlo’s business and supply chain expenses; and global conflicts and geopolitical issues such as the ongoing conflicts in the Middle East, Ukraine or China-Taiwan relations may disrupt Arlo’s ability to execute its business plan in a timely manner or at all. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect Arlo and its business are detailed in its periodic filings with the Securities and Exchange Commission, including, but not limited to, those risk factors described in its most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and subsequent filings with the Securities and Exchange Commission. Given these circumstances, you should not place undue reliance on these forward-looking statements. Arlo undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Arlo-F
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