Background Info
About RemoteMDx
RemoteMDx, Inc. (OTC BB: RMDX), through its wholly owned subsidiary SecureAlert, specializes in patented wireless location technologies and systems that focus on offender monitoring and tracking, personal security, senior supervision and health monitoring.
SecureAlert's offerings feature wireless products that are the first to utilize Global Positioning System (GPS) and cellular technologies in conjunction with world-class monitoring centers. With five issued patents, six patents pending and five more patent applications on file, the technologies and services offered by SecureAlert are positioned to revolutionize the healthcare and judicial system by supplying crucial information to both care providers and law enforcement officials that will allow them to act with a more timely response than ever before possible.
In addition, RemoteMDx is the parent company of VoluSol Inc. VoluSol is committed to advancing the standards of personal health and safety through the development of innovative biomedical sensors that wirelessly transmit vital data to SecureAlert's MobilePAL™ senior citizen device and Monitoring Center. It also provides reagents that are used in clinics and laboratories throughout the country.
Market Overview
Health Monitoring – The health monitoring products and services market targeted by RemoteMDx consists of 35 million Americans over the age of 65 and, more specifically, the estimated 9.7 million senior citizens who currently live alone. Through SecureAlert, the Company has served more than 50,000 people to date by providing life-saving information to emergency response personnel when chronic illnesses flare up or when customers find themselves in an emergency situation.
Corrections – According to the U.S. Census, roughly one in every 32 adults in America is currently in the corrections system. The Bureau of Justice Statistics reported in its 2004 Bulletin that during the past 20 years, the prison population has skyrocketed by more than 300 percent to nearly 6.9 million offenders in 2003 up from close to 2.2 million offenders in 1982. The average cost to keep an offender in prison is approximately $65 per day, and with the growing number of offenders and shrinking corrections budgets, government officials are being forced to put more of a burden on parole and probation officers rather than keeping offenders behind bars.
At the end of 2003, more than 4.8 million adult men and women were under federal, state or local probation or parole jurisdiction: approximately 4,074,000 on probation and 774,600 on parole. RemoteMDx's offender tracking solution provides a cost-effective and technically superior way for corrections officers to monitor those parolees and probationers who need constant supervision.