Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) ( http://www.flexpoint.com) announced that they have formed OccuSense Electronics, LLC, a Joint Venture Company with Card Access, Inc. for production of Universal Sensors featuring Flexpoint’s patented Bend Sensor ® for use in their patent-pending Card Access Smart Pressure Sensor™. Under the terms of the Agreement, Flexpoint will provide sensors utilized in a patent-pending, jointly developed enclosure for the new Card Access Smart Pressure Sensor. The Smart Pressure Sensor is an easy-to-use occupancy sensor used in home automation, commercial automation and hospitality automation markets. The Smart Pressure Sensor measures the change in distributed pressure when a chair, a bed, or a sofa is occupied. Card Access’ proprietary calibration learning mode allows dynamic adjustment of the sensor’s response levels. The Card Access Smart Pressure Sensor form factor and calibration delivers superior control and flexibility when compared to many other non-adjustable occupancy sensors—most of which are more limited in application and reliability. Card Access Smart Pressure Sensors are also used in the company’s CloseBy Network ( www.closebynetwork.com) remote monitoring system. CloseBy Network combines multiple passive wireless sensors (including the Smart Pressure Sensor), software and a secure web application into a "Care Network" for remote monitoring of the elderly or developmentally disabled. Caregivers choose what activities and locations to monitor and who receives notifications (text message, email message, website monitoring) about the person’s activity levels. Two Card Access Smart Pressure Sensors are included in every standard CloseBy Network system—ideally used to monitor an elderly person’s bed or favorite chair for occupancy state. CloseBy Network is part of an emerging category of “aging-in-place” technologies—products and services allowing the elderly to remain living in their own homes as safely and independently as they can for as long as they can. The need for these aging-in-place technologies is real and global in scope.
A June 2009 AARP Policy Institute report projects growth of 89 percent in the 65 or older population between 2007 and 2030, a rate over four times faster than overall population growth projections. A 2011 updated report from Aging in Place Technology Watch concludes America’s 78 million baby boomers are driving both awareness and need for technologies to assist aging adults. The report projects aging in place market growth from $2 billion in 2011 to more than $20 billion in 2020.“For CloseBy Network to deliver a better solution for caregivers and their families to enjoy better quality of life, we are relying on Flexpoint’s Bend Sensors in our sensor systems to remotely and accurately provide monitoring information," said Kent Hansen, Card Access CEO. “Our joint development efforts have resulted in a sensor better-suited to the task of reliably detecting bed, chair and furniture occupancy—providing us with a competitive edge in the aging-in-place and home automation markets we serve.” Clark Mower, President of Flexpoint Sensor Systems, stated, “We are excited to work with Card Access in this effort. The Card Access Smart Pressure Sensor has been under joint development and testing for much of the last year. We’re delighted with the successful completion of this development and testing process and the resulting Joint Venture Company. The demands in the aging population for systems such as CloseBy Network can only increase with time. We are excited about the almost endless possibilities of growth in this sector for us with this application of Bend Sensor technology.” The Card Access Smart Pressure Sensor is currently shipping and is sold by Card Access Authorized Dealers and CloseBy Network Dealers in the United States and 25 countries around the world. About Flexpoint Sensor Systems Flexpoint manufactures a patented cutting edge flexible sensor that has also proven to be an extremely durable switch. The single layer Bend Sensor ® product allows for the measurement of mechanical movement, air flow, water flow or even vibration. It can be used as a range of motion sensor, or as a durable & reliable switch in most harsh environments. Flexpoint serves numerous industries including automotive, medical, industrial controls, monitoring & more. About Card Access, Inc. Founded in 1995, Card Access™, Inc. is a leading developer of wireless communications products. World-class organizations in the medical, military and home consumer markets rely on Card Access for development of high-performance, low-power, miniaturized, mobilized and ruggedized wireless communications solutions. Card Access Home Automation and CloseBy Network® aging-in-place products give dealers and installers greater convenience in providing more automation for their customers. Those customers enjoy greater control and peace of mind with systems using Card Access products. Card Access, Inc. is a privately held company headquartered in Salt Lake City, Utah. For more information, visit www.cardaccess-inc.com or call 1.801.748.4900. Forward-Looking Statements This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Bend Sensor is a registered trademark of Flexpoint Sensor Systems, Inc. Card Access and Smart Pressure Sensor are trademarks of Card Access, Inc. in the United States and other countries. CloseBy Network is a registered trademark of CloseBy Network, LLC. Other marks may be the property of their respective owners.