Vigil Health Solutions Inc.

Vigil Health Solutions Inc. develops advanced monitoring systems for senior care, enhancing safety and independence for residents in various healthcare settings. Their innovative solutions cater to diverse needs within the senior living industry. Founded in 1998 and headquartered in Victoria, Canada, Vigil Health Solutions Inc.

specializes in technology for senior care environments. Under the leadership of CEO Troy Griffiths, the company has successfully navigated three funding rounds, with their most recent deal occurring on January 17, 2022. Vigil Health Solutions has raised a total of CAD 1. 36 mn, with the latest funding round being an Exit in January 2022, when Assa Abloy AB agreed to acquire the company, finalizing the deal in April 2022.

Vigil Health Solutions Inc. specializes in providing a comprehensive platform designed for senior care, including independent living, memory care, assisted living, rehabilitation, and skilled nursing facilities. Their core products—advanced call systems, integrated electronic locking mechanisms, and passive monitoring solutions—all meet UL 1069 standards. These technologies are designed to enhance resident independence while ensuring their safety, addressing critical needs for residents and caregivers.

The Vigil System is adaptable for various settings, serving a diverse client base that includes healthcare facilities and senior living communities across North America and selected international markets. Vigil continuously innovates its systems by integrating with other technologies, such as environmental monitoring and electronic health records, positioning itself as a versatile partner in the senior care industry. Vigil Health Solutions operates primarily on a B2B transaction model, focusing on sales to senior living facilities and healthcare organizations. Revenue is generated through the sale of flagship products, including the Vigil Memory Care System and the Vitality Wireless Call System, as well as ongoing service agreements and system integration offerings.

Transactions may involve subscription-based models for software updates and support, alongside one-time purchases for hardware installations. Clients engage with Vigil for both initial system setup and ongoing maintenance, ensuring the technology remains effective and up-to-date. The pricing structure is tailored to meet the specific needs and scale of each client, allowing for flexibility in service delivery and support. Vigil Health Solutions plans to leverage its recent acquisition by Assa Abloy AB to enhance product development and market reach.

They intend to introduce new products specifically designed for expanding into additional geographic markets, focusing on Europe and Asia by 2025. The CAD 1. 36 mn raised in their latest deal will be directed towards supporting these initiatives and facilitating the design and launch of innovative solutions tailored for diverse senior care environments.