LOS ANGELES CALIFORNIA, April 27, 2022 (GLOBE NEWSWIRE) -- GTX Corp (OTC: GTXO) (“the Company”), a pioneer in the field of location based wearable GPS human and asset tracking systems and ProteGear.com, a German IT/GPS tracking specialist company, announced their cooperation to launch the latest generation of the GPS SmartSole product based upon LTE Cat M1 technology.
“We are excited to work with ProteGear, parent company Global SafeTrack Systems GmbH, to bring the latest generation of the GPS SmartSole technology to Germany,” stated Andrew Duncan GTX Director. “As the largest senior health care market in Europe, with a population of close to 84 million, it is very important for us to have a strong presence there”
The German health system provides universal population coverage either through social health insurance (SHI), which covers almost 90% of the population, or VHI (Voluntary Health Insurance.) Health insurance coverage is mandatory for the entire population. Coverage is virtually universal and less than 1% of the population is not insured.
“We have been looking forward to the launch of the next generation LTE Cat M1 SmartSole for some time. With the high-performance GPS tracking system and longer battery life of up to 5 days, we are excited to offer our customers this product,” stated Markus Schlittenbauer. “We have a lot of pent-up demand for the product from both families acting as caregivers for individuals with Alzheimer’s or Dementia, as well as the senior care organizations and homes. SmartSoles not only help family members feel safer about their loved ones, but also prevent patients from being institutionalized, thus reducing the cost of their care.”
The SmartSole is GTX’s most notable award-winning product which is a seamless GPS-enabled wearable device whose target market is people with cognitive disorders such as Autism, Dementia, Traumatic brain injury and Alzheimer’s. These groups tend to wander and need constant remote patient monitoring (RPM). Although this is a niche segment, these groups together represent approximately 3% of the world’s population, which is around 34 million in the 24 go-to market ready developed countries GTX has identified, and in several of these countries has already begun distribution.
GTX Corp's patented GPS SmartSoles, are the world’s first wearable yet invisible tracking technology. Placed in the wearer’s shoes they contain a state-of-the-art Nordic GPS module connected through cellular networks that send a GPS location to the GTX central monitoring website and app. The SmartSoles which were initially created as a wander guard solution for those at risk due to Alzheimer’s, dementia, autism, or traumatic brain injury and tend to wander or become lost or disoriented, can also be used by people at risk of kidnapping, such as government employees, journalists and corporate executives. SmartSoles come in 3 trim-to-fit sizes ranging from size 5 to 13, for men, women, and children, are water resistant, include an inductive charging pad, and are proudly manufactured in Rhode Island, U.S.A.
GTX Corp is a For-Profit with Purpose Company which has an extensive patent portfolio, is a proud U.S. military contractor and has multiple wearable tracking products sold through its online store, Amazon and authorized resellers and distributors servicing customers across the globe.
About GTX Corp GTX Corp (OTC: GTXO) is a pioneer in smart, mobile, and wearable GPS tracking and recovery location-based solutions, supported through a proprietary IoT enterprise monitoring platform and intellectual property portfolio. GTX offers a global end-to-end solution of hardware, software and connectivity and develops two-way GPS tracking technologies, which seamlessly integrate with consumer products and enterprise applications. GTX utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC and BLE technology, enabling subscribers to track in real time the whereabouts of people or high value assets. GTX is known for its game-changing and award-winning patented GPS SmartSole® -- think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism, and traumatic brain injury. GTX’s business model is built around technology innovation and intellectual property protection, with many issued patents in GPS tracking and server communications. The company has international distributors servicing customers in over 35 countries and is a U.S. Military Government contractor. Other customers include public health authorities and municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers.
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About Protegear.com
ProteGear.com owned by parent company Global Safe Track Systems GmbH, operating since 2014, specializing in worldwide tracking and emergency communication solutions, both serving GSM/4G and satellite networks. Receiver of numerous awards including the iF Design Awards 2020, redDot Design Award 2020, ISPO Product of the Year award 2020.
ProteGear.com
info@protegear.com
Tel. +4980363013182
Filzenweg 14
83071 Stephanskichen
Germany
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Forward Looking Statements
This news release contains forward-looking statements. The terms and phrases “expect,” “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 considering 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 on the SEC Website). 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.
