CLEARDAY MOVES FORWARD IN STRATEGIC PIVOT EMBRACING MACHINE LEARNING ROBOTIC COMPANION CARE

Company terminated leases of three residential care facilities and redirects cash flow into technology services investments

San Antonio, Texas, June 29, 2023 (GLOBE NEWSWIRE) -- Clearday, Inc. (OTCQX: CLRD) (“Clearday” or the “Company”), an innovative longevity technology company using an integrated platform of robotic companion care and AI-driven solutions to serve the senior adult care sector, continues their strategic pivot to asset light solutions by terminating leases of three residential care facilities.

Shedding three facilities and terminating the associated leases is expected to remove more than $27 million in liabilities, subject to certain adjustments. These facilities have been a drain on cash flow. These cash flows can now be utilized to make further investments in AI empowered robotic caregiver services. CEO and Founder, Jim Walesa: “We are excited to move away from the high fixed cost, sub-optimal approach to the care crisis and continue our embrace of the future of longevity care: AI powered robotic technology.”

By 2030, every baby boomer will be 65 years or older, that represents one in five Americans. With a shortage of nurses, care workers, a challenged economy and rising labor costs, the US is in or facing a care crisis.

Clearday believes success in longevity care and solving the care crisis is not about owning and operating the physical facilities, but is providing the technological solutions to extend, promote and provide a richer client life through meaningful days. The center of Clearday’s digital platform (CDP), the product of multiple years of technological innovation and investment, is our AI powered care robotic caregiver that we believe is the future of longevity care and a solution to America’s longevity care crisis.

Chairman and CEO, Jim Walesa noted, “The care crisis is and will be about addressing the individual needs of every patient. Our neural network robotic solution will enable every patient to have an individual caregiver. Our digital platform will provide many more meaningful days for our clients.”

Viveon Health Acquisition Corp Founder, Jagi Gill: “The termination of these leases significantly reduces operating cash flow losses and enables us to focus on our innovative care products and services including Clearday’s proprietary at Home digital offering.”

Jim Walesa, “Thank you again to Singular Research for selecting us to present at their recent Solstice conference. We look forward to being a part of the Singular family with more events in the future. The company has now posted its video presentation on the website: www.myclearday.com. The video is a good representation of the strategic pivot of the company to asset light solutions.”