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TruePosition Inc. & Liberty Media Corporation Take a Controlling Interest in EmFinders

Posted on: Wednesday, 23 September 2009, 08:07 CDT

FRISCO, Texas, Sept. 23 /PRNewswire/ -- EmFinders(TM) announced today that it has secured a strategic investment from TruePosition, 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(TM) device and service.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090923/PH80318 )

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 TruePosition 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 TruePosition that works directly with 9-1-1 emergency response systems.

"EmFinders EmseeQ is a fine example of a powerful and much-needed solution utilizing U-TDOA technology to provide superior location capabilities," states Rob Anderson, senior vice president and CTO of TruePosition. "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."

About EmFinders

EmFinders, based in Frisco, TX, is a new technology company that has developed a device and subscription service for locating people with Alzheimer's or other impaired adults and children who wander and become lost. The wearable device and locator service use advanced cellular technology to locate lost individuals, even if they wander inside a building, under a structure or just about anywhere. The device becomes activated on command and the locator service works in coordination with emergency responders. EmFinders was founded by the team of Jim Nalley and Chris Buehler, who together have over 50 years of experience in the communications industry. The company is a "graduate" of the North Texas Enterprise Center for Medical Technology (NTEC) in Frisco, Texas north of Dallas. For more information, visit www.emfinders.com.

About TruePosition and Liberty Media

TruePosition is the global leader in location determination and intelligence solutions that help protect citizens, combat crime, and save lives. TruePosition location solutions meet the mission-critical requirements of enterprises and government agencies. These solutions include future-proof technologies, innovative applications, and comprehensive networking and systems services. TruePosition has more patents, technical expertise, and operational experience in wireless location than any other company in the world. Every day more than 100 million people depend on location services supported by TruePosition technology. TruePosition is a wholly-owned subsidiary of Liberty Media Corporation attributed to the Liberty Capital group (Nasdaq: LCAPA), which owns a broad range of electronic retailing, media, communications and entertainment businesses. For more information, visit www.trueposition.com or www.libertymedia.com..

SOURCE EmFinders

Source: PR Newswire

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