SEBASTIAN, Florida,
December 6, 2018 /PRNewswire/ --
LogicMark, LLC, a wholly owned subsidiary of NXT-ID, Inc.
(NASDAQ: NXTD), today announced the commercial launch of Notifi911,
a Personal Emergency Response (PERS) device, to be sold direct to
consumers through big box retail stores and other sales channels.
Notifi911, LogicMark's newest Mobile Emergency Response pendant,
will connect users to 911 at the touch of a button on the wearable
pendant allowing them to speak directly to a 911 operator anytime
and anywhere there is cellular service.
"The retail launch of Notifi911 represents a significant
expansion of our product offerings and distribution channels, which
will allow us to offer security and safety products to entirely new
markets and customers," said Kevin
O'Connor, President of Logicmark. "Partnering with the
nation's leading retailers offers an important new channel for our
PERS products and will provide us with strong consumer distribution
in the fast growing global PERS retail market."
Notifi911 will be available at Best Buy, BestBuy.com and other
national retailers. It is currently undergoing the product
onboarding process through Best Buy and will be available to
purchase in the coming months. The launch of Notifi911, a
self-contained unit that does not require a base station, landline
or cellular plan, follows extensive in-store trials. There are no
monthly charges, no monitoring fees, and no contract to use the
device, which offers a distinct value proposition over other
devices currently on the market. The Notifi911 pendant is fully
rechargeable with a standby time of 3 months when fully charged.
The robust design of the Notifi911 allows the pendant to get wet so
it can be carried and used during outdoor activities and during
heavy rain. LogicMark offers a one-year limited warranty on
Notifi911.
"Our PERS device provides users with the comfort of knowing that
with the touch of a button they can immediately reach emergency
operators," said Stanley Washington,
Chief revenue officer and president healthcare for NXT-ID, Inc. "We
have seen strong demand from consumers who want that level of
security and safety without a monthly fee. Launching our retail
distribution strategy is a major step in making our devices
available to a wider marketplace."
LogicMark is currently a major provider of PERS to the Veterans
Administration. The Company's non-monitored product offering has
disrupted the market for PERS by providing its end-users a product
at less than 10 percent of the cost to customers over lifetime use
of monitored devices offered by its competitors. LogicMark operates
in the $6.3 billion global PERS
market, which is projected to grow to $8.4
billion in 2020 (Source: IndustryARC Market Research). There
are three major trends driving the market growth in PERS:
- Greater Desire for Connectivity and Independence: There
is an increased desire for safety devices by people over 60 years
of age who now represent the fastest growing demographic in social
media, outdoor activities and vacation travel. One third of
Americans aged 65+ fall at least once per year resulting in more
than 2 million injuries annually (Source: Home & Community
Preferences of the 45+ Population, AARP).
- Increase in Violent Crimes: The estimated number of
violent crimes increased for the second straight year in the U.S.
(4.1 percent). In 2017 there were an estimated 1,248,185 violent
crimes and an estimated 7,919,035 property crimes. Rape and
aggravated assault increased 6.3 percent and 4.6 percent. 88
percent of on campus college crimes are sexual assault and 61
percent are Aggravated Assault (Source: Statista).
- Raising Cost of Workplace Injuries: More than 4.1
million people in the U.S. suffer a workplace injury resulting in
more than 1.1 million days of work lost by employees every year.
Additionally, the number of assaults against real estate agents,
hospitality staff and other business professionals is on the rise.
Industries with the highest rate of injury include construction,
fishermen, roofers, transportation workers and agricultural workers
(Source: United States Department of Labor/ OSHA).
For seniors, falls result in more than 2 million injuries
treated in emergency departments, including over 550,000
hospitalizations and more than 18,000 deaths per year. Falls are
the leading cause of fatal injury and the most common cause of
nonfatal trauma-related hospital admissions among older adults.
(Source: NCOA). The financial toll for older adult falls is
expected to increase as the population ages and may reach
$54.9 billion by 2020.
Other market opportunities for the Notifi911 retail offering
include:
- Hospitality, hotel and resort industry employees
- College students and teachers
- Joggers, hikers, bikers and climbers
- Fishermen and hunters
- Real estate agents and bank tellers
- Oil workers and construction
- Extreme athletes and surfers
- Singles living alone
LogicMark's has a long history of providing PERS devices to
those aging in place and with medical conditions the ability to
call 911 or to alert family and friends to an emergency with the
simple touch of a button. The Company is a leading provider of
medical alert systems that offer this emergency service without a
monthly fee or contract. LogicMark offers both monitored and
non-monitored PERS devices. Prior to this retail launch of
Notifi911, the Company's devices were primarily sold through
dealers and medical devices distributors as well as through the
United States Department of Veterans Affairs.
About NXT-ID, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of
technology products and services that enable the Internet of Things
(IoT). With extensive experience in access control, biometric and
behavior-metric identity verification, security and privacy,
encryption and data protection, payments, miniaturization and
sensor technologies, NXT-ID develops and markets groundbreaking
solutions for payment and IoT applications. Its industry-leading
technology products and solutions include MobileBio®, a suite of
biometric solutions that secure consumers' mobile platforms, the
Wocket™, a next-generation smart wallet and the Flye, a digital
credit card developed in collaboration with WorldVentures.
NXT-ID includes three mobile and IoT-related subsidiaries:
LogicMark, LLC, a manufacturer and distributor of non-monitored and
monitored personal emergency response systems ("PERS") sold through
dealers/distributors and the United States Department of Veterans
Affairs; Fit Pay, Inc., a proprietary technology platform that
delivers end-to-end solutions to device manufacturers for
contactless payment capabilities, credential management,
authentication and other secure services within the IoT ecosystem,
and 3D-ID LLC, which is engaged in biometric identification and
authentication. Learn more about NXT-ID at http://www.nxt-id.com.
Fit Pay and the Fit Pay Payment Platform are the sole property of
Fit Pay, Inc. For NXT-ID Inc. corporate information contact:
info@nxt-id.com
Forward-Looking Statements for NXT-ID: 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 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;
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 Securities and Exchange Commission.
Media Contacts:
Chris Orlando
chris.orlando@nxt-id.com
+1-760-468-7273
D. Van Zant
+1-800-665-0411
press@nxt-id.com
SOURCE NXT-ID, Inc.