The shoes were certified by the Federal Communications Commission this year. GTX believes the market has great potential, given the soaring costs of Alzheimer's.
"This is a significant milestone for both companies and while the $604 billion worldwide cost of dementia has become and will continue to be a significant fiscal challenge, the under $300 GPS enabled shoes will ease the enormous physical and emotional burden borne by Alzheimer's victims, caregivers and their geographically distant family members," said Patrick Bertagna, chief executive of GTX Corp.
Health professionals say the new GPS shoes could be a real boon for the more than five million Americans who suffer from the disease, according to AFP. Andrew Carle, a professor at George Mason University's College of Health and Human Services, said the shoes may even save lives.
"It's especially important for people in the earliest stages of Alzheimer's who are at the highest risk," Carle told AFP.
"They might be living in their home but they're confused. They go for a walk and they can get lost for days."