TransAct Announces BOHA! Solutions Order from Regional Assisted Living Communities

Rhea-AI Summary

TransAct Technologies Incorporated (Nasdaq: TACT) has announced a new order for the BOHA! Sense software application across all 87 owned communities of a new assisted living customer. The deployment includes 1,200 sensors, 240 Gateways, and ongoing access to BOHA! Sense for real-time temperature monitoring. This will allow medical staff to ensure medication storage at required temperatures and monitor food storage and safety standards. CEO John Dillon expressed satisfaction with the custom-tailored program for the new client, highlighting TransAct's commitment to innovation and customer needs.

Market Research Analyst

The deployment of the BOHA! Sense software application by TransAct Technologies to an entire network of assisted living communities represents a significant expansion of their product usage. This move indicates a growing demand for real-time monitoring solutions in healthcare-related facilities, which can be crucial for maintaining regulatory compliance and ensuring patient safety. The inclusion of approximately 1,200 sensors and 240 Gateways suggests a large-scale investment in infrastructure that could enhance operational efficiency and risk management.

From a market perspective, such an order could signal TransAct's penetration into new market segments, potentially opening up additional revenue streams. The healthcare industry's focus on patient care quality and safety compliance presents an opportunity for technology providers like TransAct to demonstrate the value of their solutions. As such, this development could be a positive indicator for the company's future growth prospects and might be of interest to investors monitoring the company's expansion strategies and market reach.

Healthcare Technology Expert

Implementing BOHA! Sense across multiple communities introduces a technological advancement in the way assisted living facilities manage temperature-sensitive medications and food safety. The real-time monitoring capability is a critical component in ensuring that medications retain their efficacy, which is directly linked to patient outcomes. By leveraging technology to automate and enhance these processes, facilities can reduce the risk of human error and improve compliance with stringent healthcare regulations.

Moreover, the deployment of sensors and gateways for 24/7 monitoring underscores the importance of continuous oversight in healthcare settings. These systems can provide immediate alerts in case of temperature deviations, allowing for swift corrective actions. This not only safeguards the well-being of residents but also helps facilities avoid potential legal liabilities and financial losses associated with medication spoilage or foodborne illnesses.

Financial Analyst

The financial implications of this order for TransAct Technologies are multifaceted. On one hand, the upfront revenue from the sale of sensors and gateways, as well as the recurring revenue from ongoing access to the BOHA! Sense application, contribute positively to the company's top line. On the other hand, investors should consider the costs associated with scaling up production and support services to meet the demands of such a large deployment.

Long-term benefits may include increased customer loyalty and the establishment of TransAct as a reliable provider in the healthcare technology space. However, it is essential to monitor the execution of this deployment and the company's capacity to maintain service quality as it scales. Any challenges in implementation could affect customer satisfaction and, consequently, future sales. As with any significant contract, the company's ability to deliver on its promises will be closely watched by investors and industry analysts alike.

BOHA! Sense Will Be Used in All 87 West Coast-based Communities

HAMDEN, Conn.--(BUSINESS WIRE)-- TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high growth markets, today announced that it has delivered an order from a new assisted living customer for the BOHA! Sense software application across all 87 owned communities. The total deployment will include approximately 1,200 sensors, 240 Gateways, and ongoing access to BOHA! Sense which will allow 24/7 real-time temperature monitoring for refrigerators and freezers, including temperature-controlled medication storage areas. This novel deployment will allow medical staff to ensure that certain prescriptions are kept at the required temperature for patient efficacy, as well as monitoring food storage and safety standards.

“Finding solutions for our customers’ more difficult back-of-house challenges is part of TransAct’s DNA, and we are pleased to have been able to provide a custom-tailored program with our flexible BOHA! platform for this new client,” said John Dillon, CEO of TransAct Technologies. “This win follows a pattern of TransAct rapidly innovating to help meet the evolving needs of our customers and industry partners, and I want to personally thank our entire team for their hard work in support of our mission.”

About TransAct Technologies Incorporated

TransAct Technologies Incorporated is a global leader in developing and selling software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, and POS automation. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!®, AccuDate™, EPICENTRAL®, Epic® and Ithaca® brands. TransAct has sold over 3.6 million printers, terminals and other hardware devices around the world and is committed to providing world-class service, spare parts, and accessories to support its installed product base. Through the TransAct Services Group, the Company also provides customers with a complete range of supplies and consumable items both online at http://www.transactsupplies.com and through its direct sales team. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800.

TransAct®, BOHA!®, AccuDate™, Epic Edge, EPICENTRAL™ and Ithaca® are trademarks of TransAct Technologies Incorporated. ©2024 TRANSACT Technologies Incorporated. All rights reserved.

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Investor Contact:

Ryan Gardella

Ryan.Gardella@icrinc.com

Source: TransAct Technologies Incorporated

What is the latest announcement from TransAct Technologies Incorporated (Nasdaq: TACT)?

TransAct Technologies Incorporated (Nasdaq: TACT) has announced a new order for the BOHA! Sense software application across all 87 owned communities of a new assisted living customer.

How many sensors and Gateways are included in the deployment?

The deployment includes approximately 1,200 sensors and 240 Gateways.

What will the BOHA! Sense software application be used for?

The BOHA! Sense software application will be used for real-time temperature monitoring for refrigerators and freezers, including temperature-controlled medication storage areas.

Who expressed satisfaction with the custom-tailored program for the new client?

CEO John Dillon expressed satisfaction with the custom-tailored program for the new client.