LOS ANGELES, CALIFORNIA, Feb. 06, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO) (“GTX” or the “Company”), a pioneer in the field of wearable GPS, human and asset tracking systems and wandering assistive technology, today announced that it has signed a collaboration agreement (the “Agreement”) with Flint Rehab, LLC, a leading neuro-rehabilitation device company that specializes in next-generation digital health technologies.
By the Agreement, GTX and Flint Rehab will develop a next generation SmartSoleÒ noninvasive GPS wearable tracker for those who wander, which will include location-based GPS technology, biometric activity sensors and machine learning.
“We are very excited that GTX has been selected to collaborate with Flint Rehab in the new development of the next version SmartSoleÒ GPS footwear that will include activity tracking to promote senior wellness,” commented GTX’s CEO, Patrick Bertagna. “By having sensors for tracking and biometrics, and utilizing both the left and right soles, we will be providing a unique and proprietary offering to the marketplace.”
GTX recently filed a patent for embedding sensors into both right and left insoles with the ability to communicate via Bluetooth. This patent filing is significant to this project as it will be the intellectual property backbone of this new product.
The National Institute on Aging at the National Institutes of Health (“NIH”) has made funding available for companies to develop technologies like the next generation SmartSoleÒ as part of their plan to address Alzheimer’s disease in America. Flint Rehab has successfully obtained NIH funding through Small Business Innovation Research (“SBIR”) awards to develop commercially successful medical devices, including their MusicGlove and FitMi rehabilitation tools for individuals with stroke, spinal cord injury, or traumatic brain injury. Together, GTX and Flint Rehab may be eligible to secure additional SBIR funds.
“From the beginning, our mission has been to empower individuals to live healthier lives through innovative technologies,” said Dan Zondervan, Vice President of Flint Rehab. “Through this partnership with GTX, we look forward to developing a wearable device and machine learning platform that can help individuals with Alzheimer’s disease, traumatic brain injury, or cognitive impairment, live a healthier life, remain independent and age in place.”
GTX’s SmartSolesÒ made headlines this month in a recent IoT Journal article that published research findings of Janusz Wojtusiak, PhD, Associate Professor and Director of Health Informatics at Mason’s College of Health and Human Services. Dr. Wojtusiak studied the possibility of using machine learning methods applied to data from GPS trackers to create individualized models that describe patterns of movement. These patterns can be used to predict typical locations of individuals with dementia, and to detect movements that do not follow these patterns and may correspond to wandering. The GPS trackers and data used in the study were GTX’s SmartSolesÒ. The SmartSoles were also mentioned in a Forbes.com article. And Google’s sister company Verily has in recent months developed a smart shoe prototype that can track weight and monitor falls, and is hoping to attract partners to build the shoes and take them to market according to CNBC. These headlines support the value proposition of continued IP and development efforts in the Smart Footwear category, and this collaboration project between GTX Corp and Flint Rehab.
About Flint Rehab
Flint Rehab is a forward-thinking digital health company dedicated to reinventing the way stroke survivors recover. Our experienced team of neuroscientists creates next-gen rehabilitation tools using the latest clinical research and gamification. Our most popular products, FitMi® and MusicGlove®, have empowered thousands of people to increase mobility and regain a positive outlook on life, while our latest product, the MiGo® is the first activity tracker designed specifically for rehab. We also provide educational resources and community support to motivate survivors to rebuild a life full of the activities they love! We’re the anti-boring solution that helps survivors engage with their therapy, day in and day out. Learn more about us here: https://www.flintrehab.com/.
About GTX Corp
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 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 Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular, RF and BLE technology, enabling subscribers to track in real time the whereabouts of people or high value assets. Headquartered in Los Angeles, California, 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 Corp’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, NGOs, private companies, public and private 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 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 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 by law.
