Gen3 acquires LogicMark (US)

Generation3 Capital (Gen3), a Chicago based private equity firm which has had some experience in the security and durable medical equipment market, announced this week their acquisition of LogicMark, designer and manufacturer of two-way PERS systems. LogicMark was the first to introduce a no-subscription PERS, GuardianAlert 911, which directly calls 911 (Emergency Services or police in the US), then FreedomAlert which adds direct dial numbers for caregivers or neighbors. They also marketed a conventionally monitored PERS with what they claimed was the smallest and greatest coverage two-way pendant available. Mark Gottlieb, who founded the company in 2006, will be staying on as Chief Creative Officer. Joining the LogicMark team will be security industry veterans Ben Cornett (CEO) and Kevin O’Connor (President). Eds. Steve and Donna note that with the recently closed sales of both AMAC and LogicMark, it doesn’t have to be mHealthy to be desirable to investors; established business models, revenues and profits will do. Press release (PDF) for more info.