GTX Corp (OTCBB:GTXO), a provider of two-way GPS Personal Location Services (PLS) solutions signed an agreement with Tracking Central Pty Ltd., to acquire the exclusive licensing rights of GTX Corp's enterprise GPS Tracking platform which will support the award winning GPS Smart Shoe™ licensed by Aetrex Worldwide.
"We are excited for the opportunity to have exclusive rights to this very much needed product," said Claude Raiola, Director of Tracking Central. "We were searching for a cutting edge monitoring service for our CareTraker and Pawtracker device and have found it with the robust GTX Corp platform."
The agreement calls for 150 days of due diligence and is accompanied with three-staged payments. Upon successful completion Tracking Central will have exclusive monitoring rights in Australia and New Zealand and will be able to support the Aetrex(R) GPS Smart Shoe(TM) designed for seniors suffering from dementia and Alzheimer's.
"As we continue to expand our international footprint this is a direct result of our global initiative to grow our channels of distribution while building out our community to launch the GPS Smart Shoe™ outside of the US," said Jerry Barbera Head of Business Development at GTX Corp.
The impact of Alzheimer's: The World Alzheimer global study looks at levels of mortality, disability, strain on careers and dependency. The report includes estimates of the number of people with dementia in each world region and provides the most comprehensive global picture yet of the economic impact of Alzheimer's disease and dementia. Nearly 10 million caregivers, mostly family members, spend $148 billion dollars a year for the care of their loved ones.