LogicMark Signs Manufacturing Agreement with U.S. based AQS to Provide New PERS Devices to the Care Economy
August 29 2023 - 9:00AM
LogicMark, Inc. (NASDAQ: LGMK) (the “Company”), creator of
innovative personal safety and security technology for the care
economy, today announced an agreement with All Quality and
Services, Inc. (AQS) to engineer and manufacture new hardware
devices, the first product of which is scheduled to launch next
year.
“Having an additional contract manufacturer based in the U.S.
helps us diversify our risk and minimize supply chain disruptions,
ensuring our customers have the products they need. Our customers
are also requesting products that are ‘Made in USA’. With existing
tariffs on imported products, manufacturing in the USA is now more
competitive, which allows us to increase the number of cost
effective customer solutions. We look forward to partnering with
AQS to help us introduce new products into the marketplace, which
will supplement life saving products already in our pipeline
expected for launch in 2023 and 2024,” said LogicMark CEO, Chia-Lin
Simmons.
“For more than three decades, we’ve provided our customers with
a one-stop solution for all their needs in high-quality electronics
manufacturing and engineering services so that they can thrive in
any dynamic competitive environment,” said Bruce Lee, Vice
President of Operations with AQS. “We’re looking forward to working
with LogicMark to deliver the most innovative personal safety and
security technology to the aging population, in a timely
manner.”
Today’s aging population deserves fast and reliable access to
the most innovative personal safety and security technology
available. AQS – which is ISO 13485 certified – is one of the most
highly respected and experienced full-service contract
manufacturers in the electronics manufacturing sector. The
LogicMark partnership with AQS is expected to provide added
flexibility to the Company’s product manufacturing operations as
well as capacity to fulfill the needs of a growing care
economy.
For more information about LogicMark’s devices and accessories,
visit logicmark.com.
About LogicMark, Inc. LogicMark, Inc. (Nasdaq:
LGMK) is on a mission to let people of all ages lead a life with
dignity, independence and the joy of possibility. LogicMark
provides personal emergency response systems (PERS), health
communications devices, personal safety apps, services and
technologies to create a Connected Care Platform. Made up of a team
of leading technologists with a deep understanding of IoT, AI and
machine learning and a passionate focus on understanding consumer
needs, LogicMark is dedicated to building a ‘Care Village’ with
proprietary technology and creating innovative solutions for the
care economy. The Company’s medical alert pendants revolutionized
the PERS industry by incorporating two-way voice communication
technology directly into its medical alert pendant, providing this
life-saving technology at a price point everyday consumers can
afford and the ability to receive care at home and confidence to
age in place via direct-to-consumer channels. The Company’s PERS
technologies are sold through the United States Veterans Health
Administration and dealers and distributors. LogicMark has been
awarded a contract by the U.S. General Services Administration that
enables the Company to distribute its products to federal, state,
and local governments. To learn more, visit logicmark.com or
investors.logicmark.com.
About AQS, Inc.AQS, All Quality and Services,
Inc., is a global leader in the contract and electronics
manufacturing services industry, providing front to back solutions
for engineering development, printed circuit board design,
fabrication, parts procurement, assembly, box build and test. Our
manufacturing service includes: Rapid prototyping, high-mix low
volume, NPI, high volume and full turnkey along with lower cost
offshore solutions and a global supply chain with expertise in
mitigating import tariffs. Post-manufacturing services including
warranty repair, RMA and update. AQS has full-service factories in
Silicon Valley, CA, Garland, TX, Carrollton, TX, and multiple
overseas locations.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements reflect management’s current expectations, as of the
date of this press release, and involve certain risks and
uncertainties. Forward-looking statements include statements herein
with respect to the reverse stock splits described above and the
successful execution of the Company’s business strategy. The
Company’s actual results could differ materially from those
anticipated in these forward-looking statements as a result of
various factors. Such risks and uncertainties include, among other
things, our ability to establish and maintain the proprietary
nature of our technology through the patent process, as well as our
ability to possibly license from others patents and patent
applications necessary to develop products; the availability of
financing; the Company’s ability to implement its long range
business plan for various applications of its technology; the
Company’s ability to enter into agreements with any necessary
marketing and/or distribution partners; the impact of competition,
the obtaining and maintenance of any necessary regulatory
clearances applicable to applications of the Company’s technology;
the Company’s ability to maintain its Nasdaq listing for its common
stock; and management of growth and other risks and uncertainties
that may be detailed from time to time in the Company’s reports
filed with the SEC.
ContactMediaYalda RafieSutherlandGold for
LogicMarklogicmark@sutherlandgold.com
InvestorsA. Pierre DuboisFinnPartners for
LogicMarkinvestors@logicmark.com
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