PositiveID Corporation Receives VeriChip Order For Use With Israeli Military
Delray Beach, FL (GLOBE NEWSWIRE) - PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), a developer of medical technologies for diabetes management, clinical diagnostics and bio-threat detection, announced today that it has received an order for its VeriChip™ microchip to be used for disaster preparedness and emergency management in Israel by an integration partner.
The VeriChip radio frequency identification (RFID) microchip was cleared by the U.S. Food and Drug Administration in 2004 for patient identification. The VeriChip can also be used to assist in the management of emergency situations and disaster recovery in conjunction with a customized camera capable of receiving both RFID scanned data and GPS data wirelessly, and a Web-enabled database for gathering and storing information and images captured during emergency response operations.
The Company's integration partner intends to provide the microchips to the Israel Defense Forces (IDF), the State of Israel's military force.
Marc Poulshock, PositiveID's Vice President of Business Development, said, "We believe there are many important applications for the VeriChip and our associated intellectual property including next-generation identification and bio-sensing capabilities. Our partner is looking to help healthcare organizations, militaries including the IDF, and governments with their disaster preparedness and emergency response needs."
About PositiveID Corporation
PositiveID Corporation develops unique medical devices and molecular diagnostic systems, focused primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MicroFluidic Systems, is focused on the development of microfluidic systems for automated preparation of and performance of biological assays. For more information on PositiveID, please visit www.PositiveIDCorp.com.
Statements about PositiveID's future expectations, including the likelihood that the VeriChip will be used for disaster preparedness and emergency management in Israel by an integration partner; the likelihood that the VeriChip can also be used to assist in the management of emergency situations and disaster recovery in conjunction with a customized camera capable of receiving both RFID scanned data and GPS data wirelessly, and a Web-enabled database for gathering and storing information and images captured during emergency response operations; the likelihood that the Company's integration partner intends to provide the microchips to the IDF; the likelihood that the Company's partner is looking to help healthcare organizations, militaries including the IDF, and governments with their disaster preparedness and emergency response needs; and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. These risks and uncertainties include the Company's ability to successfully deliver the VeriChip to its integration partner and the ability of the integration partner to provide the VeriChip to the IDF; as well as certain other risks. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on March 25, 2011, and 10-Qs filed on May 13, 2011, and August 15, 2011, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
SOURCE: PositiveID Corporation
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