LOS ANGELES, CALIFORNIA, Aug. 01, 2023 (GLOBE NEWSWIRE) — Metalert, Inc. (OTC: MLRT) (“the Company”), a pioneer in location sensitive health monitoring devices and wearable technology products announced today it has entered into an OEM licensing agreement with Global Safe Tracks, a German based IT/GPS tracking company, to manufacture and distribute its GPS SmartSole technology in Europe. Global Safe Tracks under license will manufacture a modified version of the GPS SmartSole that includes 2G technology as a fall back to 4G technology for use where 4G coverage has not been fully built out in some European countries. The European version shall be marketed and distributed under the brand name of “SafeSole” however Global Safe Tracks will also continue to market and distribute the 4G Cat M1 GPS SmartSole plus version made in the U.S.
As part of the agreement, Metalert shall also have the rights to distribute the OEM 4G/2G version under the GPS SmartSole trademark for its own distribution purposes across other countries that still do not have a fully robust 4G infrastructure.
This licensing OEM agreement is part of the ongoing successful intellectual property licensing program that has generated the Company close to $1.4 Million in licensing revenues to date and builds upon the recent announcement of a new patent allowance issued by the European Patent Office for the GPS SmartSole.
“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. The agreement is part of our strategy to increase our production capacity and ramp up sales and distribution on a global basis,” said Andrew Duncan Metalert Director. “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.”
“We believe that the time is right to expand our partnership and fulfill the huge pent-up demand for this life changing technology for the 15 million people in Europe afflicted by Cognitive Disorders. By offering our customers the choice of these two products, we can now bring a safe, reliable service anywhere in Europe in a cost-effective manner,” said Markus Schlittenbauer, CEO of GlobalSafeTracks.
“Under the 3-year license agreement Global Safe Tracks will be manufacturing the SafeSole in Germany enabling a faster on demand delivery throughout Europe, while significantly reducing tariff and shipping costs across Europe, in addition to opening up new markets where 4G is currently unavailable. This agreement will expand our production capacity, reduce delivery time and costs for our European customers, and will provide us with sourcing and manufacturing redundancies. Now both companies and all our customers will have access to another manufacturing source and be able to tap into that inventory,” stated Patrick Bertagna MetAlert CEO.
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About MetAlert, Inc.:
MetAlert (OTC: MLRT) 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. With over 20 years of experience and an extensive patent portfolio, MetAlert is a leading solution provider for consumers/patients afflicted with Alzheimer, 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. Utilizing the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC, and BLE technologies, enabling caregivers to track and monitor patients in real time. Known for its game-changing and award-winning patented GPS SmartSole® — 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 over 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. www.MetAlert.com
About GlobalSafeTrack Systems GmbH, operating since 2014, specializing in worldwide tracking and emergency communication solutions, both serving GSM/4G and satellite networks. Markets products under the ProteGear and SafeSole brand names. Receiver of numerous awards including the iF Design Awards 2020, redDot Design Award 2020, ISPO Product of the Year award 2020.
This news release contains forward-looking statements. The terms and phrases “expects,” “would,” “will,” “believes,” and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by MetAlert considering its experience and perception of current conditions and expected future developments, as well as other factors that MetAlert believes are appropriate in the circumstances. Many factors could cause MetAlert’s actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. Certain risk factors that may cause actual results to differ are outlined in MetAlert’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (which may be obtained on the SEC Website). These factors should be considered carefully, and readers should not rely on MetAlert’s forward-looking statements. MetAlert has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required.
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Source Globe Newswire