Nxt-ID, Inc. today announced that its wholly-owned subsidiary LogicMark will commence field testing of its newly designed WiFi Notification system in early July 2020.
Nxt-ID, Inc. (NASDAQ: NXTD) announced its subsidiary LogicMark, LLC will begin field testing the WiFiNotifi device, enhancing emergency communication for seniors. This Personal Emergency Response System allows users to alert family or responders via text without monthly fees, using existing Wi-Fi. The device features a lightweight wearable pendant with fall detection, enabling two-way voice communication. Following a 30-45 day testing period, it will be available through various channels, including the U.S. Department of Veterans Affairs. The product aims to support seniors living independently, especially in light of challenges posed by the COVID-19 pandemic.
- Launch of the WiFiNotifi device targeting a growing senior market.
- No monthly monitoring fees, enhancing affordability for seniors.
- Potential expansion of revenue channels via direct-to-consumer and institutional sales.
- Field testing expected to last only 30-45 days, leading to swift market entry.
- None.
This device will assist seniors to live more independently by easily notifying family, friends and first responders when they need emergency medical assistance.
Oxford Connecticut, June 30, 2020 (GLOBE NEWSWIRE) -- Nxt-ID, Inc. (NASDAQ: NXTD) today announced that its wholly-owned subsidiary LogicMark, LLC will commence field testing of its newly designed WiFiNotifi device, a Personal Emergency Response System (PERS) that has been designed in order to provide seniors and their families and friends with peace of mind. For seniors who are living independently, and in many cases alone or in assisted living facilities, the WiFiNotifi device will allow them to alert friends and family via text messaging if they need medical assistance with the touch of a button on a wearable pendant. The WiFiNotifi system will use their existing Wi-Fi and internet connection to send the message and allow the friend or family member to respond to the text with a phone call from their smartphone. After initiating the call, the friend/family member can initiate a 3-way call to the local first responders if they determine that the user requires medical emergency assistance. In addition, there will be No Monthly Monitoring Fees associated with the WiFiNotifi system as it utilizes the existing Wi-Fi network with-in the home or senior living facility.
The WiFiNotifi device is a lightweight pendant that can be worn on the wrist, a belt clip, or on a lanyard. The device can be activated either by pressing a single button or by the built-in fall detection to initiate a text message to family/friends. With a built-in speaker and microphone in the pendant, the communication between the parties will allow the user to clearly communicate their situation to get the appropriate medical assistance. The device has no base station, requires no landline, nor cellular connection, no service contract and no monthly monitoring fees. Vin Miceli, CEO for Nxt-ID, Inc. commented that “the Company is very excited about the prospects of the new WiFiNotifi product and believes that this product has great potential in terms of enhancing and growing the Company’s top line. The product is a very good value proposition for the consumer and will definitely expand our revenue reach into different revenue channels.”
After completion of the field testing phase, which we expect to take approximately 30 – 45 days, the WiFiNotifi device will be sold through direct to consumer channels, dealers and medical device distributors and the United States Department of Veteran Affairs. “With many seniors living on a fixed income, it’s important that we offer a solution that provides seniors and their family with an option to have protection in their home and peace of mind that they can afford without incurring monthly monitoring fees,” said Kevin O’Connor, President of LogicMark. “We have seen how the Covid-19 Pandemic disproportionately impacted seniors, and for those seniors living alone this product will provide them with a cost effective option to stay connected and reach out for medical assistance.”
The WiFiNotifi device will also be sold to senior independent and assisted living facilities, providing an efficient way for residents to notify staff when they require assistance. If a resident falls or presses the button on the pendant, the staff will be notified immediately and can initiate a two-way voice call to speak with the resident to quickly determine what they need. “It will provide senior living facilities with a cost effective option to utilize their existing infrastructure and improve notification and communication between residents and staff in an emergency,” said O’Connor, when discussing the potential in the institutional market. Added Vin Miceli, Nxt-ID CEO: “This is an important corporate initiative for our Company. Even before the COVID pandemic began, we were looking for ways to open up new distribution channels. The WiFiNotifi device will further this long-term strategic objective of our Company at opening up new channels and providing easier access to a product that we believe will become increasingly important to families wanting to assure immediate access to loved ones who may be living remotely.”
LogicMark is a leading provider of PERS devices and has been providing systems with no monthly fees that allow seniors to contact friends, family and 911 in the event of an emergency since 2006. In addition to the WiFiNotifi product, LogicMark also provides no monthly fee products that communicate over landline and cellular networks.
About Nxt- ID, Inc.
Nxt-ID, Inc. (NASDAQ: NXTD) provides technology products and services for healthcare applications. The Company has extensive experience in access control, biometric and behavior-metric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies. Through its subsidiary, LogicMark LLC, Nxt-ID, Inc. is a manufacturer and distributor of non-monitored and monitored personal emergency response systems ("PERS") sold through dealers/distributors and the United States Department of Veterans Affairs. Learn more about Nxt-ID at www.nxt-id.com. For Nxt-ID Inc. corporate information contact: info@nxt-id.com
Forward-Looking Statements for Nxt-ID: 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 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; 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 Securities and Exchange Commission.
Media Contacts: Vincent S. Miceli
investors@nxt-id.com
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