GTX-Aetrex to bring GPS Shoes to senior market
GTX Corp, a leader in customizable,patented 2-way GPS Personal Location Services (PLS) solutions, and Aetrex Worldwide, Inc., a global leader in pedorthic footwear and foot orthotics, have entered into a platform test agreement. The companies will collaborate on the development and mechanical engineering of GTX Corp's patented PLS 2-way transceivers and software systems to monitor the locations of “wandering” seniors afflicted with dementia by embedding its technology in Aetrex footwear.
“There are a growing number of seniors suffering from dementia and we know over 50% 'wander' without anyone's knowledge of where they are and where they are heading,” said Chris Walsh, an ex Nike executive and current COO of GTX Corp. “The shoe we intend on developing with Aetrex should help authorized family members, friends, or caretakers reduce their stress and anguish by enabling them to locate their loved ones instantly with the click of mouse from any desktop computer or mobile phone with internet access.”
"Five million Americans are afflicted with Alzheimer's and this is estimated to grow to more than twenty million as the Boomer population ages," states GTX Advisor Andrew Carle. Carle is an internationally recognized expert in technology for seniors and Director of the nation's only program in Senior Housing Administration at George Mason University. "Up to 60% of these individuals will become lost at least once and nearly half may die if not located within 24 hours. The volume of lost persons also threatens to overwhelm police, fire, and rescue systems - so this is life saving as well as a resource critical technology."
Aetrex manufactures and distributes footwear that includes styles designed specifically for the senior medicinal market and has pioneered the iStep, a patented technological innovation for footwear and orthotics available to both the retail and medical communities. Its existing integration of footwear and technology made Aetrex an ideal fit for GTX Corp that also possesses an extensive intellectual property portfolio centered on its PLS technological innovations.
GTX Corp was awarded U.S. Patent No.7,474,206 B2 entitled “Footwear with Embedded Tracking Device and Method of Manufacture” and U.S. Patent No. 6,788,200 entitled “GPS Footwear” with seven additional GPS footwear patents pending.
“We're excited to partner with GTX to develop a line of shoes incorporating their PLS systems. Working together we are confident that we can create an innovative product that addresses the needs of a growing population and the families that are affected,” said Evan Schwartz, President of Aetrex Worldwide Inc.
Development should begin immediately with actual product testing projected to commence by Q4 of 2009.
Committed to pioneering, creating and delivering customized personal location solutions empowering the global community, GTX Corp develops miniaturized Global Positioning Satellite (GPS) tracking and location-transmitting technology for integration into branded licensee consumer products.The company is headquartered in Los Angeles, California, with an R&D facility in Palo Alto California.
Founded in 1946, Aetrex is a $60 million dollar family-owned corporation widely recognized as the global leader in pedorthic footwear and foot orthotics. Originally known for the landmark development of arch supports and medically-oriented footcare products, followed by numerous innovations in the over-thecounterinsole market, Aetrex is now on the fast track toward major industry and consumer recognition in the U.S. and throughout the world.