LogicMark Signs Manufacturing Agreement with U.S. based AQS to Provide New PERS Devices to the Care Economy
- LogicMark diversifies risk and minimizes supply chain disruptions with new contract manufacturer.
- Manufacturing in the USA is now more competitive due to existing tariffs on imported products.
- Partnership with AQS expected to provide added flexibility and capacity for LogicMark's product manufacturing operations.
- None.
LOUISVILLE, Ky., Aug. 29, 2023 (GLOBE NEWSWIRE) -- LogicMark, Inc. (NASDAQ: LGMK) (the “Company”), creator of innovative personal safety and security technology for the care economy, today announced an agreement with All Quality and Services, Inc. (AQS) to engineer and manufacture new hardware devices, the first product of which is scheduled to launch next year.
“Having an additional contract manufacturer based in the U.S. helps us diversify our risk and minimize supply chain disruptions, ensuring our customers have the products they need. Our customers are also requesting products that are ‘Made in USA’. With existing tariffs on imported products, manufacturing in the USA is now more competitive, which allows us to increase the number of cost effective customer solutions. We look forward to partnering with AQS to help us introduce new products into the marketplace, which will supplement life saving products already in our pipeline expected for launch in 2023 and 2024,” said LogicMark CEO, Chia-Lin Simmons.
“For more than three decades, we’ve provided our customers with a one-stop solution for all their needs in high-quality electronics manufacturing and engineering services so that they can thrive in any dynamic competitive environment,” said Bruce Lee, Vice President of Operations with AQS. “We’re looking forward to working with LogicMark to deliver the most innovative personal safety and security technology to the aging population, in a timely manner.”
Today’s aging population deserves fast and reliable access to the most innovative personal safety and security technology available. AQS – which is ISO 13485 certified – is one of the most highly respected and experienced full-service contract manufacturers in the electronics manufacturing sector. The LogicMark partnership with AQS is expected to provide added flexibility to the Company’s product manufacturing operations as well as capacity to fulfill the needs of a growing care economy.
For more information about LogicMark’s devices and accessories, visit logicmark.com.
About LogicMark, Inc.
LogicMark, Inc. (Nasdaq: LGMK) is on a mission to let people of all ages lead a life with dignity, independence and the joy of possibility. LogicMark provides personal emergency response systems (PERS), health communications devices, personal safety apps, services and technologies to create a Connected Care Platform. Made up of a team of leading technologists with a deep understanding of IoT, AI and machine learning and a passionate focus on understanding consumer needs, LogicMark is dedicated to building a ‘Care Village’ with proprietary technology and creating innovative solutions for the care economy. The Company’s medical alert pendants revolutionized the PERS industry by incorporating two-way voice communication technology directly into its medical alert pendant, providing this life-saving technology at a price point everyday consumers can afford and the ability to receive care at home and confidence to age in place via direct-to-consumer channels. The Company’s PERS technologies are sold through the United States Veterans Health Administration and dealers and distributors. LogicMark has been awarded a contract by the U.S. General Services Administration that enables the Company to distribute its products to federal, state, and local governments. To learn more, visit logicmark.com or investors.logicmark.com.
About AQS, Inc.
AQS, All Quality and Services, Inc., is a global leader in the contract and electronics manufacturing services industry, providing front to back solutions for engineering development, printed circuit board design, fabrication, parts procurement, assembly, box build and test. Our manufacturing service includes: Rapid prototyping, high-mix low volume, NPI, high volume and full turnkey along with lower cost offshore solutions and a global supply chain with expertise in mitigating import tariffs. Post-manufacturing services including warranty repair, RMA and update. AQS has full-service factories in Silicon Valley, CA, Garland, TX, Carrollton, TX, and multiple overseas locations.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the reverse stock splits described above and the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; the Company’s ability to maintain its Nasdaq listing for its common stock; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the SEC.
Contact
Media
Yalda Rafie
SutherlandGold for LogicMark
logicmark@sutherlandgold.com
Investors
A. Pierre Dubois
FinnPartners for LogicMark
investors@logicmark.com
