GTX Corp and Aetrex Worldwide, Inc. have entered into a platform test agreement with plans to collaborate on the development and mechanical engineering of GTX’s patented PLS (Position Location System) 2-way transceivers and software systems to track the location of “wandering” seniors afflicted with dementia.
“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,” stated 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,” added GTX Advisor Andrew Carle, 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.”
A global leader in pedorthic footwear and foot orthotics, Aetrex manufactures and distributes styles specifically designed for the senior medicinal market. Aetrex’s existing integration of footwear and technology makes the company an ideal fit for GTX Corp who possesses an extensive intellectual property portfolio centered on its PLS technological innovations. With development beginning immediately, actual product testing is anticipated to commence by Q4 of 2009.
“We are 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.
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