- MetAlert recently released its yearend shareholder update letter, covering the past year’s progress, and associated plans for 2023, all focused on helping to monitor the safety and location of dementia patients and other vulnerable individuals
- Coupled with concerns about patients with Alzheimer’s disease or other brain conditions that may lead toward risks of them wandering, becoming lost or disoriented, or falling, the situation demonstrates an opportunity for remote monitoring of patients’ whereabouts
- To meet the need, MetAlert developed a pioneering wearable GPS-enabled tracking device a decade ago that unobtrusively slips into wearers’ shoes
- The company has since expanded the device’s capabilities in keeping with developments in remote patient monitoring technology and insurance company recognition to monitor falls, wandering, and other health concerns
Following a year of wearable technology advances together with a rebranding and restructuring drive, medical patient location device developer MetAlert (OTC: MLRT) is working with shareholders to demonstrate the “significant potential” for market value found in MetAlert’s GPS two-way tracking technologies.
MetAlert developed its patented flagship GPS SmartSole shoe insoles a decade ago as a solution for those at risk of wandering or becoming lost or disoriented due to Alzheimer’s disease, dementia, autism, or traumatic brain injury.
The SmartSole later also found utility as a safeguard for people at risk of kidnapping, such as government employees, journalists and corporate executives. But during the early months of the COVID pandemic, the company noted an additional opportunity as a remote health solution to help patients avoid having to visit crowded doctor clinics when possible, thereby avoiding health risks from other patients that might be more dangerous than the condition being treated.
The result, the expanded capabilities of the SmartSole plus(R), provides a means of establishing a Bluetooth connection with a wearable “hub” for collecting health data in real-time wherever users may be and communicating that information to medical providers.
“Converging factors, such as wide adoption of telehealth and related third-party payer approval, the ability for wireless networks to transmit large amounts of data in nanoseconds, and advancements in artificial intelligence, led us to make the decision to expand our tracking and monitoring platform,” CEO and Founder Patrick Bertagna stated in a Jan. 5 letter to the shareholders (https://ibn.fm/jxUCt). “MetAlert provides a complete indoor/outdoor remote patient monitoring biometric health and wellness solution, with potential for insurance reimbursement and possibly, a long-term predictive A.I. big data play.”
During 2022, the company also changed its name and ticker symbol, plus conducted a reverse split, and prepared for further developments in 2023, including rolling out the hub to the public along with a small GPS tracker shorter than a credit card that will provide the same functionality as the insoles with a longer (two weeks) battery life between charging.
During the past year, MetAlert also eliminated its variable convertible debt and signed a letter of intent (“LOI”) with Norway-based Sensio Group to begin marketing and distributing the company’s new 3D Infrared indoor remote patient monitoring system called RoomMate, which provides fall detection to caregivers.
MetAlert also engaged Joseph Gunnar & Co., LLC as its financial adviser to help the company prepare for uplisting to a national stock exchange and exploring acquisitions that may accelerate MetAlert’s growth.
“We are now taking dramatic steps to align the public-facing (stock) part of the company with the operations and vision of the company,” Bertagna wrote. “Strategic acquisitions, expanding our products and services, and increasing our revenues per user (“RPU”), should help set us on a path toward continued success in the coming months and years. Moreover, aligning with new technologies could open possibilities for crucial data analysis that has the potential to revolutionize how we conduct and manage healthcare worldwide.”
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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