GlobeNewswire Inc | Apr 9, 2021 07:00AM EDT

April 09, 2021

MESA, Ariz, April 09, 2021 (GLOBE NEWSWIRE) -- Iveda(OTCMKTS:IVDA), worldwide provider ofIvedaAITMintelligent video search technology, Sentir Video surveillance products, IvedaPinpointTM and IvedaHomeTMIoT (Internet of Things) platforms with smart devices, today announced it has co-developed the 2021 Artificial Intelligence award-winning offering in Hospital Asset Management with Claro Enterprise Solutions. Claro is a leading global technology services company. The award was given by the Business Intelligence Group'sArtificial Intelligence Excellence Awardsprogram

The joint solution addresses hospital asset management challenges that include shrinkage, low equipment utilization, and the countless hours currently wasted by hospital staff trying to locate misplaced equipment. As a result, quality of care, patient experience, operations and workflow are negatively impacted. Misplaced and stolen equipment is a critical issue that coststhe healthcare industrymillions of dollars each year.

Hospitals ravaged by competitive pressure and the COVID-19 pandemic are focused reducing costs and improving operations, said Mark Popolano, Managing Director of Business Innovation at Claro Enterprise Solutions. Our Hospital Asset Management Solution enhances financial and operational oversight and achieves significant cost savings that can be reinvested to support the strategic imperative of improving patient care.

Iveda designed this comprehensive asset management solution suite with Claro and a financial model that makes sense for hospitals. Easily deployed, the solution integrates seamlessly with existing video surveillance system and network infrastructure while independently operating outside hospital information systems. Because hospital assets are tagged with QR codes and beacons rather than more expensive RFID devices, Claros solution is significantly less expensive than alternative options. Hosted in the cloud with a web-based user interface and a mobile app, the solution supports indoor Geo-fencing to generate alerts when assets enter or leave a defined Geo-fenced area.

We are honored to be a part of Claros solution. The financial model they built for hospitals riddled with massive losses on misplaced and lost mobile medical equipment makes a lot of sense for hospitals to implement, said Iveda CEO David Ly.

In addition to asset management applications, IvedaAI also helps hospitals implement healthy personnel behavior with Health AI functions that include mask, social distancing, temperature and occupancy detection.

###

Iveda and Sentir are registered trademarks of Iveda Solutions, Inc. IvedaAI, IvedaPinpoint and IvedaHome are trademarks of Iveda Solutions, Inc. All other trademarks are property of their respective owners.

About Iveda

Iveda (OTCMKTS:IVDA) specializes in IoT platforms that offer service providers a turn-key cloud video surveillance system, smart sensors and intelligent video search technology. Iveda utilizes proprietary command center, big data storage and deep-learning algorithms. Iveda has a SAFETY Act Certification from the U.S. Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol IVDA. For more information call (480) 307-8700 or visit www.iveda.com. To follow Iveda visit www.facebook.com/ivedasolutions,www.twitter.com/ivedasolutions or www.linkedin.com/company/iveda-solutions.

This release includes forward-looking statements. Actual results may vary materially from those expected. All forward-looking statements made herein are qualified by such risk factors, and readers are advised to consider such factors carefully. Iveda undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact:

IvedaLuz A. BergChief Marketing Officer & GM480 307-8700lberg@iveda.com