VeriChip Corporation Sells Its 1,200th Infant Protection System
April 18 2007 - 9:30AM
PR Newswire (US)
Number of infant protection systems sold to new customers in first
quarter 2007 up 28 percent year over year DELRAY BEACH, Fla., April
18 /PRNewswire-FirstCall/ -- VeriChip Corporation (NASDAQ:CHIP), a
provider of RFID systems for healthcare and patient-related needs,
announced today that it has sold its 1,200th RFID-based system for
the protection of newborn infants and pediatric patients. This
includes systems sold under the Hugs(R), HALO(R) and MyChild(R)
brands. VeriChip's infant protection systems are designed to
prevent infant abductions and inadvertent child mishandlings. The
main component of the systems is a wearable RFID tag that is
assigned to child and mother following birth. Monitors positioned
throughout the hospital detect the integrity of the tags and
location of the child. If a newborn is removed from the ward, if
the tag is lifted from the baby's skin or if the ankle strap is
compromised, the system immediately triggers an alarm, alerting
hospital security to the situation. The VeriChip infant protection
systems also guard against mismatching events by affixing matching
RFID tags to mother and child. If the mother is given the wrong
child, the RFID tag detects the mismatch and activates an audible
alarm. VeriChip believes that it has the largest installation base
of infant protection systems of any company in the industry. In the
first quarter of 2007, the number of infant protection systems sold
by VeriChip increased 14 percent, while the number of infant
protection systems sold to new customers increased 28 percent
compared to the first quarter of 2006. "This is an important
milestone for our healthcare security business," said Scott R.
Silverman, Chairman and Chief Executive Officer of VeriChip. "The
market for infant protection continues to grow at a rapid pace as
hospitals and parents push for improvements in hospital security.
As a result, systems like Hugs and HALO, which are proven effective
at safeguarding against infant abductions, are increasingly
becoming the gold standard at most birthing hospitals and a key
factor for parents in determining where they choose to have their
child." For more information on VeriChip's healthcare security
products, please contact 1-866-559-6275 or email . Additional
information can be found online at
http://www.verichiphealthcare.com/. About VeriChip Corporation
VeriChip Corporation, headquartered in Delray Beach, Florida,
develops, markets and sells radio frequency identification, or
RFID, systems used to identify, locate and protect people and
assets. VeriChip's goal is to become the leading provider of RFID
systems for people in the healthcare industry. VeriChip sells
passive RFID systems for identification purposes and active RFID
systems for local-area location and identification purposes.
VeriChip recently began to market its VeriMed(TM) Patient
Identification System for rapidly and accurately identifying people
who arrive in an emergency room and are unable to communicate. This
system uses the first human-implantable passive RFID microchip, the
implantable VeriChip(TM), cleared for medical use in October 2004
by the United States Food and Drug Administration. VeriChip
Corporation is majority-owned by Applied Digital Inc.
(NASDAQ:ADSX), which also owns a majority position in Digital Angel
Corporation (AMEX:DOC). For more information on VeriChip, please
call 1-800-970-2447, or email . Additional information can be found
online at http://www.verichipcorp.com/. Statements about the
Company's future expectations, including future revenues and
earnings, 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 the Company's actual results could differ
materially from expected results. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances. Contact: VeriChip
Corporation Allison Tomek 561-805-8000 The Ruth Group Nick Laudico
(investors) (646) 536-7030 Jason Rando (media) (646) 536-7025
DATASOURCE: VeriChip Corporation CONTACT: Allison Tomek, VeriChip
Corporation, +1-561-805-8000, ; or investors, Nick Laudico,
+1-646-536-7030, , or media, Jason Rando +1-646-536-7025, , both of
The Ruth Group Web site: http://www.verichipcorp.com/
http://www.verichiphealthcare.com/
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