- MetAlert recently announced the signing of an LOI with Sensio Group for the marketing and distribution of RoomMate, a 3D Infrared supervision product with a fall detection automated monitoring system
- The company has set out to solve problems unique to individuals afflicted with ADA by creating devices specific to their use cases, and RoomMate is one such product, promising effective remote patient monitoring while maintaining anonymity
- Through this partnership, MetAlert looks to penetrate the high CAGR projected patient monitoring devices market, valued at $47 billion in 2021
- It also looks to leverage the partnership for future up-listing onto a major exchange such as NASDAQ
- Its management is confident that with its value proposition and unique market positioning, it will soon position MetAlert as a dominant player in its sector, commanding a significant market share and realizing substantial earnings
MetAlert (OTC: MLRT), a Los Angeles-based pioneer in location-sensitive health monitoring devices and wearable technology products, announced the signing of a Letter of Intent (“LOI”) with Sensio Group, a Norway-based provider of welfare technology and home automation solutions, for the marketing and distribution of RoomMate(TM). MetAlert hopes this partnership will initiate the promotion of this new product in the U.S., Canada, and the U.K., leveraging on Sensio’s understanding of the existing market, its brand equity, and its robust distribution network.
“We are very excited about this partnership and remarkable proven technology. With over 5,500 RoomMates in operation in 220 municipalities across Norway, Sweden, Denmark, and Iceland, we will begin marketing and distributing the product and monitoring service in the U.S., Canada, and the U.K. immediately,” noted Andrew Duncan, MetAlert’s Business Development Director (https://ibn.fm/rB3tE).
RoomMate, one of MetAlert’s flagship products, is a wall-mounted alert system that delivers both efficiency and privacy. It detects and alerts caregivers about patient behavior that could lead to falls and injuries, using 3D infrared and wall-mounted sensors that eliminate the need for any other physical installations or wearables. Unlike more mainstream patient monitoring systems, RoomMate does not use cameras, and the collected images are not stored. Instead, its use of infrared maintains patient anonymity, while action logs help inform caregivers of any critical information they might need to know as they provide their services.
It is estimated that patients with Alzheimer’s, dementia, and autism (“ADA”) account for approximately 2.9% of the world’s population, equivalent to 34 million people in 24 developed countries. Given their unique issues, which include, but are not limited to, memory problems and adversity to wearing unknown items, traditional products such as Fitbits and iPhones do not provide a practical solution. Therefore, MetAlert has set out to solve this issue by creating devices specific to their use cases and designed to improve their overall quality of life. This commitment has birthed various offerings, including GPS SmartSoles HUB, Telehealth, Concierge, Bluetooth Enabled Devices, Artificial Intelligence Software, and Tale-Along Tracker.
With RoomMate having been deployed in Los Angeles about six weeks ago, the reception has been largely positive, with the users lauding its overall effectiveness and, more importantly, how much it prioritizes privacy.
“We installed RoomMate about 6 weeks ago in a private home, and both parents have told us how this product has changed their lives,” noted Patrick Bertagna, MetAlert’s CEO.
“They can now monitor their autistic child’s activities remotely and unobtrusively, 24×7, without always having someone with him or a camera that would violate his privacy; it’s a game changer for them,” he added.
MetAlert looks to penetrate the high CAGR projected patient monitoring devices market, valued at $47 billion in 2021, through this partnership with Sensio (https://ibn.fm/E8E49). In addition, it looks to leverage it for future up-listing onto a major exchange such as NASDAQ. Its management is confident that its value proposition and unique market positioning will soon crown MetAlert as a dominant player in its sector, commanding a significant market share and realizing substantial earnings while at it.
“We believe certain key technologies addressing this global market have tremendous implications for cutting edge growth in health care. For example, imagine how valuable aggregated data collected by RoomMate and SmartSole plus combined with artificial intelligence will be for developing predictive scenarios and medicines to better the lives of tens of millions of people,” noted Mr. Bertagna.
For more information, visit the company’s website at www.MetAlert.com.
NOTE TO INVESTORS: The latest news and updates relating to MLRT are available in the company’s newsroom at https://ibn.fm/MLRT
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