- An “alarm call” to the demands of an aging population and the increase of people living with dementia
- GPS SmartSole® technology used to predict wandering for individuals with dementia
- Announces strategic plan to uplist to the OTCQB Venture Exchange
The number of people living with dementia is soaring, and their families and caregivers are looking for solutions that allow their loved one’s greater independence. According to the World Health Organization (WHO), the number of people affected by this debilitating condition will triple from 50 million to 152 million in the next 30 years. Dr. Tedros Adhanom Ghebreyesus, director-general of WHO, describes this increase as “an alarm call” that demands greater attention to ensure that those living with dementia receive the necessary care (http://nnw.fm/iOV4s).
GTX Corp (OTC: GTXO), a self-described ‘pioneer in loT wearable technology’, is working to provide solutions to this growing problem. The company’s patented GPS SmartSole® is a non-visible GPS tracking device designed to monitor the location of people who have a tendency to get lost or wander. Easily inserted into the loved one’s shoe, it provides the caregiver with peace of mind through continuous, real-time location coordinates rendered on a mapping system in the GTX Corp Monitoring Portal, which is accessible from any computer or smartphone. Location history, geozone boundary alerts and more are available to the caregiver. When the loved one goes outside of designated boundaries, the caregiver is alerted.
GTXO is committed to working with partners to develop innovative solutions for this large section of the aging population and recently announced that George Mason University’s (GMU) College of Health and Human Services has completed its phase II machine learning wandering prediction research. This research can be used to predict the likely location of individuals with dementia and detect movement outside of those patterns that suggest wandering.
“Many of those who wander will not even realize they are lost or may hide from those searching for them. So this is truly groundbreaking data that offers the potential to save lives and dramatically reduce the costs of high-resource rescue operations,” Andrew Carle, adjunct professor and founding director of the Program in Senior Housing Administration at GMU, stated in a news release (http://nnw.fm/RRXq6).
Addressing the needs of this growing population, GTXO is an approachable option for investors seeking to diversify into wearable technology. The company reported a solid first quarter and promising growth.
Revenues, subscribers, margins and profits are all up for the company, while the cost of operations, professional services, G&A expenses and net losses decreased. Also, GTXO completed the delivery of its first large-scale military contract and secured a strategic financial partner providing funds for continued capital growth throughout 2018 and 2019. Over the last several months GTXO’s board and management have been strategically working “to make the public side of the business more reflective of the positive milestones and forward progress achieved in recent months,” as noted by GTXO CEO Patrick Bertagna in the company’s announcement of plans to uplist to the OTCQB Venture Exchange.
GTXO plans to make several more announcements in the coming weeks as its management team strategically positions the company for the future.
For more information, visit the company’s website at www.GTXCorp.com
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