GTX Corp Signs Development Collaboration and Reseller Agreement with LifeConnect
GTX Corp (OTC: GTXO) has signed a development collaboration and reseller agreement with LifeConnect, a division of Life365, to integrate IoT wearable sensors into its GPS SmartSole platform. This partnership will allow real-time transmission of vital biometric data alongside GPS coordinates to the cloud. GTX plans to also evaluate Life365 Health devices for resale. The collaboration aims to enhance the independence of seniors by delaying transitions to assisted living facilities, leveraging advanced technology to improve health monitoring.
- Collaboration with LifeConnect to integrate IoT wearable technology enhances product offerings.
- Potential to improve health monitoring for seniors, increasing market demand.
- Exploration of new patent-protected wearable sensor platform could lead to innovative solutions.
- None.
LOS ANGELES, CALIFORNIA, Oct. 13, 2021 (GLOBE NEWSWIRE) -- GTX Corp (OTC: GTXO) (“GTX” or the “Company”), a pioneer in the field of: health & safety GPS wearable technology and provider of personal protective medical equipment and supplies, today announced it has signed a development collaboration and reseller agreement with LifeConnect, a division of Life365, an Arizona based supplier of health monitoring solutions for Remote Patient Monitoring (RPM) and Intelligent Digital Therapeutics (iDTx) designed for health care providers, employers, senior homes and other health and wellness related organizations.
Under the agreement, GTX and LifeConnect will explore integrating IoT wearable sensors into the GPS SmartSole platform which will be used as the communications gateway sending vital biometric data along with GPS coordinates to the cloud, leveraging the LifeConnect and Life365 Health backend platforms and GTX’s GPS and 4G SmartSole platform. LifeConnect and GTX will also work together to explore joint and cooperative opportunities with their respective, complementary intellectual property portfolios with a particular focus on creating a new patent protected, wearable sensor platform that allows data from a multitude of medical data sensors worn on the body to be collected at a central hub point (The GPS SmartSole) and sent to the cloud (The LifeConnect / Life365 Health portal) without the use of a smartphone.
GTX will also begin to evaluate for resale certain Life365 Health devices where GTX has established channels of distribution.
“We believe that there is an opportunity for great synergy between the two companies with their complimentary technology and I.P. portfolios, “said Andrew Duncan, GTX Corp Director, “we are looking forward to forging a close partnership and explore some near-term business opportunities.”
“Life365’s mission is to allow people, especially seniors, to live a more independent life – On their terms. Technology will play an increasing role in enabling this independence, allowing people to choose how and where they live, as well as how they engage in their own Health and Care”, said Kent Dicks, CEO of Life365. “There are over 10,000 people that turn 65 in the US every day. These people want to live in their own homes as long as they can without going into Independent or Assisted Living facilities. Life365, in conjunction with GTX can save a senior a significant amount of money by delaying their transition to a more expensive care facility and at the same time allowing them to live a more independent and safe life.”
Patrick Bertagna, GTX Corp CEO commented, “there are several opportunities we plan to explore with LifeConnect, starting with adding some of their sensors to our product offerings, integrating wearable sensors through Bluetooth to our GPS and cellular SmartSole, so that we can monitor peoples where abouts and overall health status in real time. Additionally, we are evaluating our collective IP portfolios in the wearable medical space to see how we can create a broader and more valuable portfolio.”
Many of the GTX products are available at its online store, Amazon and through domestic and international distributors. To find out more about how you can become an authorized reseller of GTX products, contact us at info@gtxcorp.com
About Life365 / LifeConnect
The Life365 Virtual Care platform integrates health systems with healthcare solution / service providers and logistics companies to deliver a one-stop, integrated platform for engaging a growing patient population at home – and beyond. The platform enables health professionals to remotely manage patients with a variety of disease states and offers consumer apps for self-managing their health and wellness. Life365 is headed by an industry recognized team with deep experience in remote healthcare technology. The founding team’s previous “Connected Health” Company was acquired by Alere (now Abbott). Life365 is also a major patent holder of the next generation of intelligent, AI driven wearables, sensors and patches that will enable the next generation of virtual care.
For more information regarding Life365, please visit www.life365.health.
For more information regarding LifeConnect, please visit www.lifeconnect.band.
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® -- 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 holds over 85 patents, with many issued patents in the area of GPS tracking. 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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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 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.
FAQ
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