Also previewing new children’s GPS SmartSole® and Armatrak Rifle Tracker
LOS ANGELES, CALIFORNIA – January 4, 2018 – GTX Corp (OTCBB: GTXO), an Internet of Things (IoT) solutions provider in the personal location, wearable and wandering assistive technology business, announced today that it will be presenting its new Biometric Insoles and previewing some of its other new products scheduled for launch in 2018, including the children’s GPS SmartSole®, GPS InvisaBelt designed for toddlers and the Armatrak GPS Rifle Tracker, at the annual Consumer Electronics Show (CES) in Las Vegas January 9-12. Executives from GTX and the Company’s strategic partner, Veristride, will be scheduling one-on-one appointments throughout the week.
For those interested in learning more about this ground breaking and cost savings technology can stop by Thursday, January 11 from 2:00 to 5:00 PM PST in hospitality suite 310 at the Las Vegas Westgate Tower. To schedule a meeting please send an email with CES Meeting in the subject line to email@example.com.
GTX Corp and Veristride began collaboration in August of 2017 to develop an easy to use, nonvisible, inductive charging, wearable gait solution to analyze movement and activity, using custom sensors at the foot and biomechanical analytics and algorithms to provide gait analysis and movement which is considered a key metric in fall risk detection and prevention for people 65 and older. Gait analysis can also help detect if there is a sudden adverse reaction to new or existing medication, an undetected stroke or even early onset of dementia – all of which for seniors is vital to their wellness, longevity and quality of life, while prevention and early detection can save millions of dollars in healthcare costs.
- Each year, 2.8 million older people are treated in emergency departments for fall injuries.5
- Over 800,000 patients a year are hospitalized because of a fall injury, most often because of a head injury or hip fracture.5
- Adjusted for inflation, the direct medical costs fall injuries are $31 billion annually.10 Hospital costs account for two-thirds of the total.
Patrick Bertagna, GTX Corp CEO, commented, “Despite preventive efforts, falling continues to be a major problem for seniors both at home and in community or assisted living facilities, not to mention the tremendous cost to the healthcare industry. By simply wearing a pair of biometric insoles, we will be able to monitor a person’s activity and any change in balance which in many cases can tell us a lot about that person’s overall well-being. Seniors need to stay as active as possible, but many times due to aging, fear, loss of motor skills or loss of memory, they become sedate, which leads to a decline in overall health. Our goal is to provide seniors with wearable technologies that empower them to stay active while not compromising their safety. Being able to prevent, delay or accurately predict falls, undetected strokes, affect from medicines and even early onset of dementia by wearing a smart non-intrusive footwear device can offer significant improvements in senior care and wellness along with substantial cost savings.”
According to research by Frost and Sullivan, the Internet of Medical Things (IoMT) is poised to reach $72 billion by 2021. Given the economic promise of IoMT, GTX and Veristride are committed to developing and launching a suite of biometric solutions embedded in insoles.
Stacy Bamberg, Veristride CEO, added, “We are excited to present and demonstrate our gait analytics technology at CES. The biometric insoles will address many important needs for the senior community and help remedy the physical, emotional and financial stresses due to falling. By providing constant symmetry information anytime and anywhere, without having to go to a doctor’s office or see a physical therapist, will help drastically improve how people live their lives and the healthcare industry manages costs.”
Seniors, as well as their loved ones and caregivers, often feel ‘in the dark’ about walking abilities and fall risks. When going through physical rehabilitation, patients often feel more comfortable walking in the physical therapist’s office or when at home healthcare therapist visits, because these skilled professionals can provide immediate feedback on symmetry etc. Loved ones and caregivers often struggle to know how to support patients, because “looking great” is meaningless to patients who are limited by their injury to sense improvement.
GTX Corp has been at the forefront of wearable technology and holds numerous patents in the field of wireless communications and embedding miniaturized electronics inside footwear. With several footwear based wearable tech products in the marketplace and more expected out this year, the Company’s patented flagship GPS SmartSole® is a perfect fit for the Veristride gait analytics and fall detection technology. The GPS SmartSole comes 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.
Veristride, Inc. analyzes movement at the source, enabling users to heal, excel and thrive. High fidelity sensors at the foot interface paired with state of the art biomechanical analysis allow Veristride to analyze how people walk, run and move. Built on over 15 years of research, Veristride’s approach caters to a wide range of users from individuals to trainers to organizations. In healthcare, Veristride’s PT Metrix system is used by physical therapists who work with individuals faced with mobility challenges. Both clinicians and their patients need better information about progress and symmetry using cues and analytics to measure outcomes.
Social media – #ptmetrix
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GTX Corp (GTXO) is a pioneer in Smart, Mobile and Wearable GPS tracking and recovery location based solutions, supported through a proprietary IoT enterprise monitoring platform. GTX offers a complete end-to-end solution of hardware, software and connectivity. The Company develops 2 way GPS tracking technologies which seamlessly integrate with consumer products, enterprise and military applications. GTX Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular and BLE technology and offers a proprietary platform that enables subscribers to track in real time the whereabouts of people or high valued assets through a complete end to end – customizable transceiver module, wireless connectivity gateway, smart phone Apps, middleware, and portal.
Headquartered in Los Angeles, California, with distributors in 14 countries and customers in over 35 countries, GTX is known for its award-winning patented GPS SmartSole® – Think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology device created for those at risk of wandering due to Alzheimer’s, dementia, autism and traumatic brain injury. Currently there are 100 million people worldwide who are part of this at risk wandering group and that number is expected to reach 277 million by 2050. The Company doesn’t just make and sell the best GPS tracking products, they deliver innovative, miniaturized, low power consumption wearable tech that provides safety, security and peace of mind at the touch of a button. We put the “Where” in Wearable Tech.
Social media – #withyou #smartsole #connectedandprotected #trackwhatyoulove
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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.