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.