LOUISVILLE, Ky., Feb. 17, 2022 /PRNewswire/ -- NXT-ID,
Inc. (NASDAQ: NXTD), provider of personal emergency response
systems (PERS), health communications devices and IoT technology,
today announces it has appointed Mark
Archer as Chief Financial Officer, and Rafael Saavedra as VP of Engineering. The
executives will join the leadership team and be responsible for
directing and managing NXT-ID's patented IoT technology that helps
improve the lives of seniors.
The new executives will help drive and support new product
development and customer growth for NXT-ID.
Archer brings 30 years CFO experience in public and private
companies, both consumer and technology focused. He has provided
financial leadership to companies, ranging from small startups to
those with multi-billion dollar revenue streams, while also working
with many top tier venture capital and private equity firms. He has
held executive positions in many well-known businesses including
Jamba Juice, WSS, SmartBee Controllers and Denny's. Archer, a
partner at FLG Partners, a world-renowned partnership of
experienced CFOs delivering to CEOs and boards high-value, interim
and permanent leadership, previously served as the company's
interim CFO.
Technology expert and entrepreneur Saavedra has spent more than
20 years building and leading globally-distributed engineering
teams. He was CTO/VP of a Venrock-backed startup that exited to
Harman International (NYST: HAR, acquired by Samsung), and also led
one of the first consumer GPS system companies, which exited to
Motorola. He has expertise in product development, technology
strategy, and system architecture for hardware-phone-cloud
connectivity, as well as analytics, machine learning, blockchain,
IP and data security among others.
The new executives will help drive and support new product
development and customer growth for NXT-ID. The company is
branching out into software and personal safety services, in
addition to expanding its line of life-saving personal emergency
response systems (PERS) devices.
To date, over half a million NXT-ID devices have been sold to
keep people connected to emergency services and loved ones.
As the U.S. aging population doubles over the next several decades,
PERS devices are expected to play a crucial role. The country's
largest hospital network, the Veterans Administration Medical
Centers and Outpatient Clinics, offers their patients free devices
to help them maintain their independence.
"As NXT-ID grows, we are thrilled to have these seasoned
executives in top roles to support the company as we build out our
new software and products," said Chia-Lin
Simmons, CEO, NXT-ID. "With Mark and Rafa we have added
another layer of extraordinary talent to our organization."
"I'm excited to work at a company with the technology, vision
and the important audience of the aging population. NXT-ID is on a
trajectory to create sophisticated devices that will help people
stay safely at home as they age," said Archer.
Archer has been working with NXT-ID since July 2021 as a consultant. Previously, he was CFO
at Saxco International, a private equity-owned middle market
distribution company. Before joining Saxco International, Archer
was president & CEO of SmartBee Controllers, a technology
company manufacturing hardware products based on IoT technology.
During his time at SmartBee, he expanded the product offering,
added recurring revenue streams, updated the go-to-market sales
strategy, and added new sales channels.
Archer's deep finance experience also includes: completing
seven M&A transactions, managing
five commercial debt financings, closing a PIPE bridge transaction,
securing $100 million in alternative
financing, and completing three assignments for private equity
firms where the businesses were restructured and sold within 24
months. Archer holds a B.S. in Business Administration and an
M.B.A. in Finance, both from the University of
Southern California, where he was a Presidential
Scholar.
Before Saavedra joined NXT-ID as the new VP of Engineering, he
co-founded Trace.Global, an IoT, AI and blockchain-based supply
chain traceability startup. He also co-founded and served as CTO at
LookyLoo, an AI-enabled, fashion-tech startup, as well as serving
as CTO of Drive Time Metrics, a connected car analytics startup. He
designed, executed, launched and scaled Harman's successful
automotive-grade level connected car product to more than 50
countries and millions of vehicles. Saavedra has also been named as
an inventor in various patents in geo-spatial, mobile, and
connected car technologies.
"This is a very personal mission for me. I'm very excited
to bring my experience in connected devices, IoT and AI to the
newest NXT-ID products," said Saavedra.
For more information about NXT-ID, visit www.nxt-id.com.
Media File/Image Link
About NXT-ID
NXT-ID, Inc. (NASDAQ: NXTD) provides
personal emergency response systems (PERS), health communications
devices and IoT technologies to create a connected care platform.
The company's devices give people the ability to receive care at
home and confidence to age in place. LogicMark LLC, a division of
NXT-ID, revolutionized the PERS industry by incorporating two-way
voice communication technology directly into its medical alert
pendant and providing this life-saving technology at a price point
that everyday consumers could afford. NXT-ID's PERS technologies
are sold through the United States Veterans Health Administration
and dealers/distributors. The company was awarded a contract by the
U.S. General Services Administration that enables the company to
distribute its products to federal, state and local governments.
For NXT-ID corporate information, contact: info@nxt-id.com.
Cautionary Statement Regarding Forward Looking
Statements
Statements contained herein that are not based
upon current or historical fact are forward-looking in nature and
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Such
forward-looking statements reflect NXT-ID's expectations about its
future operating results, performance and opportunities that
involve substantial risks and uncertainties. These statements
include but are not limited to statements regarding NXT-ID's
successful execution of its business strategy. When used herein,
the words "anticipate," "believe," "estimate," "upcoming," "plan,"
"target", "intend" and "expect" and similar expressions, as they
relate to NXT-ID or its management, are intended to identify such
forward-looking statements. These forward-looking statements are
based on information currently available to NXT-ID and are subject
to a number of risks, uncertainties, and other factors that could
cause NXT-ID's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
Media Contact:
Erica Zeidenberg
Hot Tomato Marketing
erica@hottomato.net
925-518-8159 mobile
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SOURCE NXT-ID, Inc.