Location-based wearable GPS asset and human tracking systems company GTX Corp (OTCMKTS:GTXO) is one of the companies that could be of interest to many investors at this point in time.
This morning the company may come into focus after it announced that a national agreement had been signed in Sweden by way of which all the healthcare providers and the municipalities across the country are going to get access to GPS SmartSole monitoring and tracking solutions. It could prove to be a significant development for GTX Corp since Sweden’s market for such products could be huge.
Around 3% of its 10 million population suffer from a range of cognitive conditions and as per the law in the country, they are supposed to get universal coverage as long as they are legal residents. It will lead to the company getting the opportunity to distribute and sell the SmartSole product to as many as 300 healthcare organizations in the country.
The company had also signed up for a distribution partnership with Posifon for the long term and the same partnership is going to be in play in its Swedish operations as well.
The latest development opens up a massive new lucrative market for GTX Corp and Andrew Duncan, who is a director at the company, stated that Posifon is also going to help with the distribution activities in other Scandinavian nations. In light of the latest announcement, it is going to be interesting to see if the GTX stock manages to come into focus among investors this morning or not.
It is a significant deal and one that could boost the company’s bottom line considerably in the long run. It may be a good idea now for investors to consider adding the stock to their watch lists and watch for further developments.
