S&P 500 cuts losses as Nvidia climbs ahead of results
LOUISVILLE, Ky. - LogicMark, Inc. (LGMK), a provider of personal emergency response systems and health communication devices with annual revenues of $9.88 million, announced Tuesday the appointment of Jeffrey Durkin as Senior Vice President of Sales, effective June 23. According to InvestingPro data, the company maintains a healthy gross profit margin of 65.71%.
Durkin previously held sales and marketing positions at several healthcare technology companies including InfoMC, Casenet, InstaMed, HMS, and Allscripts. He holds an MBA from Anna Maria College and a Bachelor of Science in Marketing from Fitchburg State University.
In his new role, Durkin will lead LogicMark’s sales team as the company seeks to expand in the personal safety market.
"Jeff’s extensive experience in healthcare sales, combined with a track record in care management technology, SaaS companies, and payer and provider markets, will complement our strategic priorities," said Chia-Lin Simmons, CEO of LogicMark.
Durkin stated, "With the increasing demand for technology that supports independent living, aging in place, and personal safety, LogicMark is well-positioned to lead in a large and rapidly expanding market."
LogicMark provides personal emergency response systems, health communications devices, and personal safety applications. The company sells its products through the United States Veterans Health Administration, dealers, distributors, and directly to consumers.
The company also has a contract with the U.S. General Services Administration that allows it to distribute products to federal, state, and local governments.
This information is based on a press release statement from LogicMark.
In other recent news, LogicMark, Inc. announced that its common stock will be delisted from the Nasdaq Capital Market due to non-compliance with the minimum bid price requirement. This decision will take effect on June 2, 2025, and the company plans to have its stock quoted on the OTC Markets Group. Additionally, LogicMark has extended the employment agreement of its President and CEO, Chia-Lin Simmons, through August 31, 2026, indicating continued confidence in her leadership. The company also approved a Charter Amendment to increase its authorized capital stock from 110 million to 880 million shares, providing greater flexibility for future corporate needs. A reverse stock split was also approved, with a ratio to be determined by the Board by the end of 2025. Furthermore, LogicMark has made significant changes to its Board of Directors, appointing Carine Schneider as the Board Chair and realigning committee assignments to focus on technology-driven growth. Despite the delisting, the company is working on a plan to regain compliance with Nasdaq listing standards, although the outcome remains uncertain.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.