LGMK: Accelerating Momentum, Growing Product Suite Bode Well
Summary
LGMK continues to expand its product line within the personal emergency response systems (PERS) space as it develops its Care Village ecosystem. More recently, LGMK introduced Aster, which is a software application designed to broaden its target market beyond the senior demographic and their caregivers. LGMK believes Aster illustrates how well it can leverage its Caring Platform as a Service (CPaaS) model to launch new IoT solutions to help ensure safety for a broadening group of users and enable caregivers & family to monitor the health and safety of loved ones remotely Importantly, the Aster launch marks LogicMark’s expansion beyond the traditional demographic market for PERS devices, as noted, and also the first software app that can be used without dedicated hardware. Going forward, the company plans to expand its cellular-based product line and features to provide multi-layer safety support using CPaaS and also to integrate with certain 3rd-party connected and wearable devices and services. Traditionally, the company’s PERS technologies have been sold through retailers and distributors, the LogicMark website as well as through the United States Veterans Health Administration (VHA), which is an important partner for LGMK.