BOSTON & SAN FRANCISCO--(BUSINESS WIRE)--Amulyte, an emerging medical device company, announced today that it has launched an equity-based crowdfunding campaign at www.Wefunder.com, a crowdfunding platform with offices in Boston and San Francisco.
CLICK HERE TO LEARN MORE ABOUT THE CAMPAIGN
Amulyte has developed an innovative emergency response system that is designed to protect seniors beyond the short broadcast range covered by existing devices. The Amulyte system uses advanced GPS, cell networks, accelerometers, and Wi-Fi, and sends a message directly and quickly to alert family members in the event of a fall or if other help is needed. Because Amulyte works virtually anywhere, it is designed to keep seniors connected to their family 24/7.
“Most falls happen outside the home, and Amulyte addresses that by enabling seniors to live their lives beyond the range in which existing systems work,” said co-founder Perry Haldenby, whose grandmother suffered a debilitating fall. “Many seniors tell us that they would love to have our device because they could go for a walk and not have to worry about getting help quickly if they fall.”
With a current senior population of 40 million, projected to double by 2050, the Amulyte co-founders see a $10 billion market opportunity. Falls are the leading cause of injuries for seniors and happen to one in three elderly persons.
How Amulyte Works
Amulyte is a pendant about half the size of a business card. Its sleek design means it can be worn around the neck or kept inside a pocket. The system employs cellular radio, GPS and Wi-Fi to track location both indoors as well as outside. It uses an accelerometer to detect falls and inactivity, as well as track long-term fitness and health levels. If a fall is detected or the user presses the Help button, a message is sent to emergency contacts by calling, texting and emailing, and contains the location of the person who needs assistance. The pendent also contains a microphone and runs on a battery that stays charged for up to a week.
Amulyte will be available in 2014. The team is currently testing the product in a retirement home in Toronto and will be adding another home in California, which has a larger senior population than any other U.S. state.
