Los Angeles, CA -- (ReleaseWire) -- 05/17/2016 --GTX Corp (OTCBB:GTXO), an IoT platform in the personal location wearable and wandering assistive technology business, elaborates about the GPS SmartSoles progression and efficiency in a growing market.
The global wearable devices market continues to gain momentum and is projected to reach US$4.5 billion by 2020. "This is fantastic news that we here at GTX Corp are excited to share with the public."
Innovative IoT devices such as the patented GPS SmartSoles, are user-friendly, unobtrusive and designed to transmit data to offer more efficient care, while reducing costs and stress. These wearable medical devices are "connected" devices, with features such as wireless data transmission, real-time feedback, alerting mechanism, and more.
The miniaturization of wireless communication and sensor technology, combined with more power efficiency and greater computation capabilities, all of which GTX Corp has been at the forefront both in development and patent filings, has enabled the shift of clinical monitoring beyond facilities to personal at home care giving. Wearable medical devices will also become helpful to pharmaceutical companies for conducting efficient clinical trials to gather data remotely, and for insurers to provide outcome-based reimbursement.
The novel and award winning idea of putting GPS tracking devices inside shoes to monitor the elderly with dementia is rapidly expanding into a whole lot more. "As we looking forward we will continue to leverage our footwear form factor and extensive intellectual property portfolio and add new sensors and technologies to our platform in order to deliver the best in class products and services in the IoT and wearable technology industry," Stated GTX Corp CEO Patrick Bertagna. "In the coming years, this technology is expected to play a critical role in improving healthcare services and GTX Corp along with Gentag Inc., Google Inc., Intel Corporation and Philips Healthcare will be paving the way."
GTX Corp's patented GPS SmartSoles, which were featured in AARP's 2015 technology gear guide are placed in the wearer's shoes and contain a GPS tracking chip connected through a global GSM cellular network that sends a signal to a central monitoring website or app showing the exact location of the individual wearing the SmartSoles. They come in several trim to fit sizes for both men and women, are made with the highest quality electronic components and assembled in Rhode Island, U.S.A.
The value behind the SmartSole Platform is its ability to be a 'wearable' yet 'invisible' stigma free monitoring solution that alerts a caregiver when the wearer wanders off, sending a text or email to the caregiver's phone and computer, with a direct link to a map plotting the wanderer's location.
GPS SmartSole consumer order information and 6 months interest free financing.
About GTX Corp
GTX Corp (GTXO) is a pioneer in Smart, Mobile and Wearable GPS, cellular and BLE tracking and recovery technology. Empowering the global community and keeping you connected to who and what matters most with monitoring location based services. Headquartered in Los Angeles, California, with distributors in over 14 countries, GTX is known for its game-changing and award-winning patented GPS Smart Shoe, blockbuster Smartphone GPS Tracking App, and innovative GPS and BLE SmartSole. GTX provides solutions that answer the "where"question: where is my mother, child, employee, vehicle, drone and high value assets. Through a proprietary global enterprise IoT monitoring platform and licensing subscription business model, the Company offers a complete end to end solution of hardware, middleware, apps, connectivity and professional services. Letting you know where or how someone or something is at the touch of a button, delivering security and peace of mind in an instant. GTX Corp also owns and operates LOCiMOBILE, Inc which develops applications for smart phones and tablets and Code Amber Alertag. The Company has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URL's and was featured in a 38 page research piece which outlines the value proposition of the Company's IP portfolio and more recently in the SeeThruEquity research report.
The patented GTX Corp wearable technology products and tracking devices, enable wearers to be monitored remotely, thereby helping to ensure their safety in case they wander or become lost due to cognitive disorders such as Alzheimer's, dementia, autism and TBI.
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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. 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.