The rapid aging of global populations has created an urgent need for intelligent healthcare monitoring systems to ensure the safety of elderly individuals living independently. Existing cloud-centric platforms face critical limitations, including high latency unsuitable for emergency response, privacy risks from continuous transmission of sensitive data, and limited, single-channel alert mechanisms lacking scalability and context awareness. This paper proposes an edge-cloud collaborative architecture that addresses these challenges through real-time multi-modal sensor fusion, a four-dimensional risk assessment model, and a three-level emergency response system. The framework adopts a five-layer design - device, edge, service, data, and application layers - enabling real-time risk evaluation with end-to-end alert latency under three seconds. At the edge, a weighted multi-modal fusion algorithm integrates data from five sensor types with confidence propagation. A unified risk score is generated by combining fall probability, physiological indicators, behavioral patterns, and sensor anomaly metrics. Based on dynamic thresholds, a three-tier notification system coordinates responses among family members, community doctors, and nearby volunteers. Experiments on CASAS, MIMIC-III, and SisFall datasets show that the approach achieves 91% activity recognition accuracy and an 84% anomaly detection F1-score, outperforming single-sensor methods. Deployment on Raspberry Pi 4 gateways demonstrates sub-100 ms inference latency while preserving privacy by keeping raw data local. This architecture advances practical, privacy-preserving, and responsive elderly care systems.