Todays baby-boomers will

likely spend more years

caring for their parents than
for their children.
1

1 A/PACT: Aging Parents and Adult Children Together

http://seniorhealth.about.com/library/eldercare/bl_apact.htm

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

The stress that comes along

with the voluntary job of being
a care-giver can build to such a
high level that it becomes life2
threatening to them.
http://www.blueprintforcaregiving.com/

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

TIMEX does connected timepieces

CareMinder
A telehealth solution for
effective remote care-giving

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

System architecture
Non-emergency reminders:
hydration
medication
activity monitor

Emergency alerts:
fall

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

Why TIMEX?

Aging population knows and trusts

the TIMEX brand

TIMEX has already entered the

heath care market4

4. A Study On Distribution Channel undertaken at Timex Group India limited, submitted by E. Karthika
(reg.No:12309631019) of Gojan School of Business and Technology Redhills, August 2010

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

Why remote monitoring?

$2 2bil
Because of an aging market.

MARKET

+78%

Growth in
smartphone
users age 55+
in US this year 5

Because of smartphones.

11%

of adult
U.S. cell phone users
have downloaded
an app to monitor
health6
3 A Study On Distribution Channel undertaken at Timex Group India limited, submitted by E. Karthika
(reg.No:12309631019) of Gojan School of Business and Technology Redhills, August 2010
4 http://www.Comingofage.Com/senior-marketing/
5 http://bigthink.com/ideas/38209
6 http://www.ama-assn.org/amednews/2011/11/14/bisb1114.htm

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

Why now?

Timepiece industry
threatenednow on
multiple devices3

Booming wireless monitoring

device market5

25.4% market
growth by 2015

3 http://www.slate.com/articles/business/moneybox/2007/03/takes_a_licking_and_stops_ticking.html
5 http://www.ama-assn.org/amednews/2011/11/14/bisb1114.htm

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

Benefits
to the care-giver

Peace of mind
Peace of mind and
minimized guilt
because you cant
always be there.

Less invasive to
your daily routine

Connected when
you cant be there

You can attend to your

life because you know
shes safe.

Youll be the first to

know any potential
dangers, 24/7.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

Trusted partner
Financially stable,
credibility (157 yrs in
business) and a history
of innovation.

Benefits
to the aging parent

Theres no place
like home
Studies prove seniors
are healthier living in
your own home.

Integrated technology

Unobtrusive

Affordable

Alerts: Haptic and audio

alerts serve as hydration,
heart-rate and medication
reminders.
Immediate action: A direct
link is sent to care-givers
or emergency care when
required.
Doctors and medications: A
database accrues accurate
records.

Simple, compact,
waterproof easy
to wear anywhere,
anytime.

The most affordable

program on the
market.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

How it works
Scenario 1HYDRATION

1
Skin sensors send
haptic and audio
alert to parent that
dehydration may
occur if not properly
addressed.

Water icon illuminated

within watch face.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Parent drinks water

to avoid serious
outcomes.

Institute of Design

Fall 2011 ID543 B Session

4
Potential emergency
averted. Care-giver
need not be alerted.
Logged into app
database.

10

How it works
Scenario 2MEDICATION

1
Skin sensors send
haptic and audio
alert to parent.

2
Medication icon
illuminated within
watch face.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

3
Dispenser activated
at correct preprogrammed time.

Institute of Design

Fall 2011 ID543 B Session

4
Potential emergency
averted. Care-giver
need not be alerted.
Logged into app
database.

11

How it works
Scenario 3ACTIVITY MONITORING

Continuous alerts
that help senior stay
in a safe heart-rate
zone. Logged into
app database.

Audio and haptic alerts when

the senior has reached their
target heart-rate.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

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How it works
Scenario 4EMERGENCY/FALL

1
Sensors detect a fall
or drastic change in
altitude.

3a
3b

Parent and
care-giver can
press urgent
care button.

Urgent flashing icon

illuminates to indicate live
button to press. Automatic
emergency message sent if
sustained, unaddressed alerts.
Emergency is addressed. Both
first-responder and care-giver
immediately alerted. Logged into
app database.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

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Ideal customer

Meet Marcy.
They are beginning
to wonder about my
commitment at work.

All of a sudden
theres no me time.

It can easily get

overwhelming. My son
was sick and I wasnt
there. He still needs me.

Marcy is 55 years old, divorced with a teenage son. Her

85-year-old widowed mother, Helen, lives 30 minutes away.
Helen has fallen several times during dizzy spells and
sometimes forgets to take her arthritis and heart medications.
Marcy is exhausted from trying to balance everyones needs.
She feels alone and guilty about her feelings of resentment.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

14

Pain Promise
My family and work still need
my attention. I cant be in
three places at once.
I never thought Id become a fulltime record keeper. I cant keep all
the meds and dosages straight.
What do we do if money
runs out?
If Mom could just remember to
drink fluids and take her meds,
we could have avoided that last
expensive trip to the ER.
Between kids, work and Mom, I
really need a break, but who would
be here in case of an emergency?

You will always be connected.

Stay more present in your normal, daily routine, while maintaining
a connection to your aging parents needs. Alerts are sent to your
cell phonea device you may already own.

Eliminate medication and dosage confusion.

All medical records are easily maintained, up to date and securely
recorded via smartphone app, which can be readily accessed by
you or any medical practitioner at a moments notice.

CareMinder is the lowest cost/high value

option on the market.
Other monitoring options have costly monthly fees or proprietary
equipment. CareMinder does not.

Stay ahead of avoidable critical emergencies.

Progressive skin sensory technology provides early audio
and haptic feedback, sending clear and gentle reminders for
medication and hydration habits. The technology directly connects
to a pre-programmed medication dispenser to assure accurate
dosing and compliance.

Peace of mind.
By receiving regular, timely and immediate information alerts on
your parents health status, youll have peace of mind that shes ok
when youre with her.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

15

Business case
Revenue per customer/year
LOW (100k users/yr) MED (200k users/yr)

CareMinder

CareMinder

$72/initial
$60/mo

watch and app:

$10/mo
free app

watch, app, monitoring: watch, app, monitoring:

$25/mo
$25/mo
free app
free app

$700/yr

$120/yr

$300/yr

$300/yr

$60MM/yr

$120MM/yr

$490MM/yr $11MM/yr

~1.6% of current
TIMEX revenue 9

TOTAL AVAILABLE MARKET

IN $BIL.

Telehealth market size

60

HIGH (400k users/yr)10

~8.5% of current
TIMEX revenue

CareMinder

~17% of current TIMEX

revenue

+25.4%
$54bil

40

20

$43bil
0.8%
expected
max
growth
annual
consumer by 20158
market7

current
PHILIPS
Lifeline
market share

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

7. Modern Healthcare; 4/25/2011, Vol. 41 Issue 17, p30-33, 4p

8. Kalorama Remote and Wireless Patient Monitoring Markets KLI6487095
9. TIMEX revenue $700MM/yr
10. Based on 8,000 Walgreens locations in US and selling 4 subscriptions per month

Institute of Design

Fall 2011 ID543 B Session

16

Moving forward
Keys to success

Challenges

Partnerships
No specific Medicare funds
can be used to pay for home
telehealth delivery.
Why Walgreens Pharmacy:
Symbiotic Core Competencies
Pharmacies possess medical experts, smart
phone apps, and trust from target market
8,000 locations in US

Leverage existing technologies

Watch manufacturing
Heart-rate monitor (Ironman)
Indiglo
WIFI/possible GPS
Sensors (Ironman)
2-way communication to data log (Ironman)

Remote monitoring was associated with

spending reductions of approximately 7.713.3%
($312$542 USD) per intervention patient per
quarter over a two-year period studied.11 The
American Telemedicine Association is currently
working to align the values of Medicare with the
growing population.

Battery life
TIMEX is currently working kinetic energy from
body movement to power watch. This may be a
potential solution to improve battery life.

11. www.americantelemed.org/i4a/pages/index.cfm?pageid=3333 , In a September 2011,

Health Affairs journal reported a study that looked at the economic impact of using
remote patient monitoring for high-cost Medicare beneficiaries.

Chris Cacci | Scott Massing December 8, 2011 New Product Definition/Sonders

Institute of Design

Fall 2011 ID543 B Session

17