True Position Inc. & Liberty Media Corporation Take a Controlling Interest in EmFinders
EmFinders® announced today that it has secured a strategic investment from True Position, Inc., a subsidiary of Liberty Media Corporation, who will assume a controlling interest in the company. Funding will support the initial launch, sales efforts, and distribution of the EmFinders EmseeQ™ device and service.
EmFinders provides highly-accurate and reliable emergency location services. The company’s first product is EmFinders EmseeQ, a bracelet device designed to be worn by individuals with a propensity to wander and become lost, including those with Alzheimer’s disease, autism, and other cognitive or developmental disabilities. The device is remotely activated and works seamlessly with 9-1-1 call centers to report the location of wandering individuals in emergency situations.
“We are extremely pleased to have the support of True Position and Liberty Media Corporation,” states Jim Nalley, EmFinders co-founder and CEO. “This investment is a testament to the value of our mission and the ever-increasing market potential of our offering. We look forward to a successful launch of EmFinders EmseeQ in early fall and continued product evolutions moving forward.”
According to a recent report by the Alzheimer’s Association, there are currently 5.3 million Americans living with Alzheimer’s disease and a new case is diagnosed every 70 seconds. By 2050, the association expects nearly one million new cases to be diagnosed each year. Furthermore, 1.5 million people living in the US currently have autism and it is known to be the fastest-growing developmental disability with an annual growth rate of 10-17%. An online survey conducted by the National Autism Association showed that 92% of children with autism are prone to wandering and the Alzheimer’s Association states that more than 60% of those with dementia will wander throughout the course of their disability.
Wandering cases cost an average of $10,000 per search and traditionally require large numbers of law enforcement officials to physically span a wide geographic area in a race against the clock. In contrast, EmFinders EmseeQ can immediately identify the location of missing individuals, both indoors and outdoors, using U-TDOA, a cellular telephone location technology provided by True Position that works directly with 9-1-1 emergency response systems.
“EmFinders EmseeQ is a fine example of a powerful and much-needed solution utilizing UTDOA technology to provide superior location capabilities,” states Rob Anderson, senior vice president and CTO of True Position. “This investment complements our existing focus on mission-critical location technology.”
Moreover, because the U-TDOA system is already in place, the solution requires zero new investment by law enforcement or communities and saves considerable tax dollars and human resources by effectively taking the “search” out of search and rescue missions.
“EmFinders EmseeQ is unparalleled in its ability to address the escalating challenges and costs related to locating wandering individuals in emergency situations,” states Mark Carleton, senior vice president of Liberty Media Corporation. “Furthermore, the EmFinders EmseeQ service and device are extremely easy to use, inexpensive, and can be implemented immediately by both caregivers and law enforcement.”
