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Alarm.com puts its own spin on PERS

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Wednesday, January 8, 2014

Alarm.com’s new Wellness solution, unveiled recently at CES, may perform some of the same functions as a traditional PERS unit, but the solution has the unmistakable stamp of an Alarm.com offering.

The solution combines mobile notifications and sensors with the company’s home automation platform, a medley of functionalities that make it a unique contribution to the independent living product realm, which is fast becoming a widespread RMR-generating fixture in the industry.

That’s not to say Wellness doesn’t feature some of the typical trappings of more traditional PERS technology. The solution includes panic buttons, for instance. But how the offering differs from traditional PERS units in some ways parallels how Alarm.com initially distinguished itself as a company in the residential security space—through its automation functions. Through a network of sensors, the solution can automatically detect unusual information and send mobile notifications to caregivers.  

Since Wellness is fully integrated with the company’s home automation, energy management and security services, the offering essentially slots in as another component of the broader ecosystem of a connected home. Another neat wrinkle to the offering, and one that maybe shouldn’t be surprising given the overarching design of the solution, is that it enables caregivers to adjust household devices like thermostats remotely.

It’s hard to think of a product perfectly analogous to this elsewhere in the industry, though that doesn’t mean there’s not one, or at least something similar in scope and breadth. In the coming days, once CES is in the rearview mirror, I plan to speak to Alison Slavin, VP of product management at Alarm.com, to find out more about how this product puts a new spin on the PERS space, as well as what the future holds for the company in that market. 

AT&T launches mPERS unit

The EverThere is professionally monitored and manufactured by Numera, has both enterprise and direct-to-consumer solutions
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12/13/2013

ATLANTA—AT&T has launched its mobile PERS units, called the EverThere, a small wearable device manufactured by Numera, a Seattle-based provider of mobile health solutions.

AT&T rolls out mPERS unit

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Wednesday, December 11, 2013

AT&T has officially launched its mobile PERS unit, called the EverThere, a small wearable unit manufactured by Numera Libris. The device automatically detects falls, has two-way emergency calling, and will deliver both enterprise and direct-to-consumer solutions.

Chris Penrose, SVP, AT&T, emerging devices, shed some light on AT&T's plans for channeling the product to market. “In terms of end-users, unlike traditional PERS, which target individuals in their 80s, this mobile solution would offer true independence and freedom for the healthy aging population as well as those living with chronic conditions.”

For me, AT&T’s announcement has a touch of synchronicity.  For something of a niche offering, mPERS has come up quite a bit over the past two weeks, the topic surfacing in conversations with Josh Garner, CEO of AvantGuard Monitoring, and Kristin Hebert, dealer relations at Acadian Monitoring Services, who both said their companies have made strides with the fledgling offering. Though traditional units still comprise about 90 percent of their PERS account bases, the gains do represent some modest traction for a market that was essentially a non-starter some three or four years ago.

Unlike the market for traditional PERS, which consensus says is poised to explode, mPERS tends to have a few more skeptics. A common critique I hear about mPERS is that if you’re pitching the product to a healthy, ambulatory, active senior demographic, that very same demographic, by virtue of being healthy, ambulatory and active, will see no reason to pay for the unit. Another position I encounter is that cell phones, in all their ubiquity, have all but usurped the value of mPERS units.

This second point is worthy of consideration, but as AT&T’s device illustrates, the automated response provided by certain mPERS units or even professionally monitored mobile apps offers some differentiation.

As always, time will tell whether mPERS adoption will be buoyed along with traditional PERS, as the latter makes its projected rise in the market. As these markets become more valuable, I’ll be interested to see how some of the central stations fare as competition proliferates, both in the industry and outside of it.

Linear PERS transmitters recalled

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12/10/2013

CARLSBAD, Calif.—Linear is recalling some PERS transmitters after a report that one transmitter failed to operate, the U.S. Consumer Product Safety Commission (CPSC) announced this week.

Acadian Monitoring goes mobile

The company’s dealer network has expanded on the strength of a mobile app for installers; Acadian also is finding success selling mobile PERS units
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12/04/2013

LAFAYETTE, La.—Powered by the launch of a mobile app that helps technicians, Acadian Monitoring Services, based here, saw its dealer base grow substantially in 2013, Kristin Hebert, dealer and vendor relations at the company, told Security Systems News.

SSN readers united on PERS, but divided on how to implement it

Funding is an issue for launching PERS; 46 percent say they’d get into PERS if they had the capital
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11/13/2013

YARMOUTH, Maine—Readers view PERS as a good way to augment business, but are somewhat split on how best to incorporate PERS into their business, according to respondents to a recent SSN News Poll.

Ill woman uses AvantGuard system for help

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11/04/2013

BIRMINGHAM, Ala.—An Alabama woman was getting ready to go to her beauty parlor when she felt ill.

PE ponders PERS

Edmonds: ‘capital providers’ join MAMA ranks
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10/23/2013

ST. LOUIS—There will be more transactions in the typically quiet PERS space over the next six to 12 months, and maybe even sooner, according to Henry Edmonds, president of The Edmonds Group, an investment bank here, which specializes in recurring-revenue businesses.

Henry Edmonds presents on PERS valuations

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Wednesday, October 9, 2013

As I encounter new theories and projections about PERS valuations, I continue to find a refreshing lack of consensus among the experts. That’s not to say there aren’t areas of agreement. There are. Those watching the market often cite similar determinants of valuation, such as attrition rates, cash flow and the costs of creating new accounts. But experts seldom invest the same metrics with equal importance.     

For example, Barry Epstein, president of Dallas-based Vertex Capital, believes reducing attrition rates to be a critical component of increasing PERS valuations. Conversely, Mark Sandler, a principal with SPP Advisors, downplayed the importance of churn, saying instead that a company’s value hinges more on how efficiently they can redeploy their units.

Today I came across a presentation on PERS valuations delivered by Henry Edmonds, president of The Edmonds Group, at the Medical Alert Monitoring Association conference held last week in Orlando. Edmonds’ insights reflect another nuanced interpretation of the market. In the presentation, he boiled PERS valuations down to four key metrics: cash flow; churn (attrition rate); growth rate/new account volume; and creation cost.

Just as vital for maximizing value is the ability of dealers to compile solid data on these metrics, Edmonds noted in one of the slides.

Edmonds developed some pretty in-depth calculations that he believes dealers should be cognizant of. For instance, churn rate metrics should account for total lost RMR on a trailing 12-month or trailing six-month basis. That figure should then be divided by average outstanding RMR. With respect to the cash flow, Edmonds advises dealers to focus on adjusted EBITDA and steady state free cash flow.

Edmonds’ presentation also offered a trove of information about buyers. He noted that buyers will create finance models for target companies, develop key assumptions based on a target company’s past performance and determine a capital structure based on current market conditions.

Edmonds also provided the following aphorism: “Buyers never pay more than they think they have to.”

In the coming weeks I plan to speak with Henry Edmonds himself to get a more in-depth take on PERS valuations and the state of the market in general. Stay tuned.

PERS company valuations predicted to rise

Epstein: Look for more PE activity in PERS market
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09/25/2013

PARK CITY, Utah—Fresh off moderating a PERS Summit panel, Barry Epstein, president of Dallas-based Vertex Capital, expects the PERS acquisition market to heat up as valuations climb.

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