MetAlert (OTC: MLRT), a pioneer in location-sensitive, health-monitoring devices and wearable technology products for remote patient monitoring, is partnering with Global Safe Tracks, a German-based IT/GPS tracking company. MetAlert signed a three-year OEM licensing agreement with the company to manufacture and distribute its GPS SmartSole technology in Europe. According to the announcement, Global Safe Tracks will manufacture a modified version of the GPS SmartSole that features 2G technology to serve as a backup for 4G technology in locations where 4G coverage is not available. The European version will be marketed and distributed under the SafeSole brand. The announcement indicated that Global Safe Tracks will continue to market and distribute the 4G Cat M1 GPS SmartSole plus version that is made in the United States. The agreement also stipulates that MetAlert maintains the rights to distribute the OEM 4G/2G version under the GPS SmartSole trademark for its own distribution purposes across other countries. The company noted that this licensing OEM agreement is part of its strategic intellectual property licensing program, which leverages the new GPS SmartSole patent allowance issued by the European Patent Office and has resulted in an estimated $1.4 million in licensing revenues. “We are excited to enter into this new agreement with Global Safe Tracks who have been a long-term distribution partner of our GPS SmartSoles in Germany,” said MetAlert director Andrew Duncan in the press release. “The agreement is part of our strategy to increase our production capacity and ramp up sales and distribution on a global basis. We expect to continue to leverage our intellectual property in the growing $270 million ‘smart shoe’ market and explore other OEM and licensing opportunities as we continue to roll out our SmartSole line of wearable technology.”
To view the full press release, visit https://ibn.fm/lCoLV
About MetAlert Inc.
MetAlert and its subsidiaries are engaged in designing, developing, manufacturing, distributing, selling and licensing products, services and intellectual property in the GPS/BLE wearable technology, personal location, wandering assistive technology, and health-data collection and monitoring space. With more than 20 years of experience and an extensive patent portfolio, MetAlert is a leading solution provider for consumers/patients afflicted with Alzheimer’s, dementia and autism. This market represents approximately 2.9% of the world’s population. The company offers global end-to-end hardware, software and connectivity solutions, in addition to developing two-way tracking technologies, which seamlessly integrate with consumer products, enterprise and government-agency applications. The company utilizes the latest in miniaturized, low-power consumption GPS, cellular, RF, NFC and BLE technologies, enabling caregivers to track and monitor patients in real time. The company is known for its game-changing and award-winning patented GPS SmartSole(R) — think Dr. Scholl’s meets LoJack, the world’s first invisible wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism and traumatic brain injury. MetAlert’s subscription-based business model is built around technology innovation with intellectual property protection. The company has international distributors servicing customers across the globe with subscribers in more than 40 countries and is a U.S. military government contractor. Other customers include public health authorities, municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes and consumers. For more information about this company, please visit 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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