LOS ANGELES, CA / CRWEPRESSRELEASE / September 16, 2015 /GTX Corp (OTCMKTS:GTXO), an IoT platform in the personal location GPS wearable and wandering assistive technology business, announced the completion of a successful SmartSole six month pilot program transitioning into a commercial launch and the signing of a reseller/distribution agreement with Posifon AB, a market leader in mobile safety alarms for elderly persons in Sweden and other Nordic countries. Posifon placed its first commercial order for receipt of inventory through the remainder of 2015, with expected delivery dates scheduled in October, November and December.
Sweden currently has close to 160,000 seniors between the ages of 60 and 95 who are afflicted with dementia, which represents about 2% of their population. The prevalence rates used are based on studies involving diagnosed cases of dementia, however many people are not always diagnosed so the actual number can be much higher.
Posifon AB is the market leader in mobile safety alarms for elderly people in Sweden and other Nordic countries. The company was founded in 2007, with roots from Ericsson and Volvo Trucks and the Posifon founders have been working with GPS technology for nearly twenty years. Posifon works with a number of dedicated municipalities and partners to lead the development of the application of mobile safety alarms. Its efforts have been recognized through awards from the European satellite consortium, Galileo for their innovative ideas. Posifon customers include municipalities, government institutions and direct to consumers.
“For us it is important to be able to offer the best wandering assistive technology solutions to our customers, commented Henrik Essunger, Director of Posifon AB. We have spent over six months evaluating the SmartSoles and how to best position them in our market and we are very pleased to officially start the commercial launch in Sweden. Our plan is to integrate tracking solutions such as the GTX SmartSoles and apps to help increase the quality of life for those in need, including their caregivers, due to Alzheimer’s, dementia, autism and other cognitive memory disorders.”
Andrew Duncan, GTX Corp director of business development commented, “We are extremely pleased to have another successful pilot transition into a commercial launch and we are proud to partner with a highly respected company like Posifon in the region. People in Sweden and surrounding countries tend to spend more on health care and assisted living services and are more open to embracing new technology to improve their daily lives. This also reflects another positive step forward in our overall European distribution strategy.”
GTX Corp’s flagship product, the GPS SmartSoles are a stigma free, safety and security unobtrusive monitoring and tracking solution for those who suffer from Alzheimer’s, dementia, autism, TBI and other memory disorders and have a tendency to wander. The patented GPS SmartSoles, which were featured in AARP’s 2015 technology gear guide and came in 2nd place, with Microsoft finishing 1st and Samsung taking 3rd place, in the 2015 Wearables, Health, Fitness & Wellness category at CTIA’s Hot for the Holidays Awards competition, are placed in the wearer’s shoes and contain a GPS tracking chip connected through a cellular network that sends a signal to the GTX Corp proprietary IoT platform monitoring website or smart phone app, showing the exact location of the individual wearing them. They come in several trim to fit sizes for both men and women, are water resistant, made with the highest quality electronic components and assembled in Rhode Island, U.S.A.
#WAM2015 has begun. September is World Alzheimer’s Month. GTX Corp will be helping spread the word, sharing information to support awareness about the #global impact of dementia and taking action to help those in need while we search for answers.
For US consumers -use promo code ALZSEPT2015 throughout the month to save on SmartSoles.
About GTX Corp
GTX Corp is committed to pioneering, creating and delivering Smart, Mobile and Wearable IoT Technology. Empowering the global community and keeping you connected to who and what matters most with GPS tracking and recovery location based services!
GTX Corp (GTXO) is a pioneer in wearable technology and enterprise GPS real-time personal location based services. Headquartered in Los Angeles, California, with distributors in over 13 countries, GTX is known for its game-changing and award-winning patented GPS Smart Shoe, blockbuster Smartphone GPS Tracking App, and innovative GPS SmartSole, GTX provides solutions that answer the “where” question: where is my mother, child, employee, vehicle, drone and high value assets. Through a robust global enterprise monitoring platform and licensing subscription business model, the Company offers a complete end to end solution of hardware, middleware, apps, connectivity and professional services. Letting you know where or how someone or something is at the touch of a button, delivering security and peace of mind in an instant. GTX Corp also owns and operates LOCiMOBILE, Inc which develops applications for smart phones and tablets and Code Amber Alertag. The Company has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URL’s and was recently featured in a 38 page research piece which outlines the value proposition of the Company’s IP portfolio.
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Forward Looking Statements
This news release contains forward-looking statements. The terms and phrases “expects,” “would,” “will,” “believes,” and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by GTX in light of its experience and its perception of current conditions and expected future developments, as well as other factors that GTX believes are appropriate in the circumstances. Many factors could cause GTX’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. Certain risk factors that may cause actual results to differ are set forth in GTX’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (which may be obtained at http://www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on GTX’s forward-looking statements. GTX has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.