|Search - Finance Home - Yahoo! - Help
[ Latest Headlines | Market Overview | News Alerts | More Business Wire ]
PALM BEACH, Fla.--(BUSINESS WIRE)--April 22, 2002-- Sales and registration of VeriChip to begin May 13, 2002
Applied Digital Solutions, Inc. (Nasdaq: ADSX - news), an advanced technology development company, announced today that the Jacobs family will be the first in the world to ``get chipped''(TM) with VeriChip's personal verification microchip.
The historic ``chipping'' procedure will take place in the first Authorized VeriChip Center in Palm Beach County, Florida, on May 10, 2002.
VeriChip is a miniaturized, implantable, radio frequency identification device (RFID) that can be used in a variety of security, emergency and healthcare applications. On April 4, 2002, the company announced that it had received written guidance that the U.S. Food and Drug Administration (FDA) does not consider VeriChip's personal verification device to be a regulated medical device, enabling the company to begin sales, marketing and distribution of VeriChip in the United States. The company believes its first-mover advantage will enable it to gain significant market share in the emergency information and verification market that is estimated to exceed $15 billion.
Each VeriChip is composed of FDA-accepted materials and contains a unique verification number that can seamlessly integrate to the Global VeriChip Subscriber (GVS) Registry. This Registry program will enable VeriChip subscribers to store pertinent personal verification and healthcare information in the company's secure database. The GVS Registry is hosted and maintained by Digital Angel Corporation's (Amex: DOC - news) state-of-the-art, FDA-compliant operations center in Owings, Maryland.
Information provided by the subscriber will be stored in the GVS Registry database. Only information authorized by the subscriber will be available for access via VeriChip's proprietary scanner. Instant access to such vital information as allergies to medications, medical device implants, pre-existing medical conditions and emergency contact numbers could save lives in an emergency and enhance the peace of mind of subscribers and their loved ones.
VeriChip System Affiliates such as hospitals, healthcare clinics, search and rescue units, and EMTs will be able to use proprietary VeriChip scanners to read a subscriber's VeriChip and gain access to the subscriber's Registry information if authorized to do so by the subscriber.
Scott R. Silverman, President of Applied Digital Solutions, first announced the May 10, 2002, event during a recent interview on MSNBC and said: ``On May 10th we'll make history with the first-ever `chipping' procedure and the launch of VeriChip and the GVS Registry into the U.S. market. We're delighted that we've been able to bring VeriChip's life-enhancing technology to market in record time. We announced VeriChip less than six months ago and now we're about to launch the product into the U.S. market.''
Silverman continued: ``We're very pleased with the excellent cooperation and excitement we've received from the healthcare community in Palm Beach County. The active involvement of VeriChip System Affiliates like hospitals and EMS units who will use VeriChip proprietary scanners and link into the GVS Registry is critical. In addition, we've identified a well-respected medical practice in Palm Beach County to become the first Authorized VeriChip Center. In conjunction with this Center, we're launching the first ChipMobile(TM) - a state of the art, medically equipped mobile unit that will deliver VeriChip to initial target markets such as elder care centers, critical care facilities and Generation Y events. This initial rollout in Palm Beach County will last until June 30, 2002, at which time we will explore other geographic market opportunities and nationwide distributor alliance programs.''
The historic chipping procedure on May 10th will be followed by a press conference and an invitation-only brunch for business partners and community leaders. During the press conference and the business brunch, Applied Digital executives will unveil more details about VeriChip's rollout plans.
VeriChip, first announced on December 19, 2001, is a miniaturized, implantable, radio frequency identification device (RFID) that can be used in a variety of security, emergency and healthcare applications. On April 4, 2002, the company announced that it had received written guidance that the U.S. Food and Drug Administration (FDA) does not consider VeriChip's personal verification device to be a regulated medical device, enabling the company to begin sales, marketing and distribution of VeriChip in the United States.
About the size of a grain of rice, each VeriChip is composed of FDA-accepted materials and contains a unique verification number. That number is captured by briefly passing a proprietary, external scanner over the VeriChip. A small amount of radio frequency energy passes through the skin energizing the dormant VeriChip, which then emits a radio frequency signal transmitting the verification number. VeriChip Corporation is a wholly owned subsidiary of Applied Digital Solutions.
About Digital Angel Corporation
Digital Angel Corporation (Amex: DOC - news) was formed on March 27, 2002, in a merger between Digital Angel Corporation and Medical Advisory Systems, a global leader in telemedicine that has operated a 24/7, physician-staffed call center in Owings, Maryland, for two decades. Prior to the merger, Digital Angel Corporation was a wholly owned subsidiary of Applied Digital Solutions. Digital Angel(TM) technology represents the first-ever combination of advanced biosensors and Web-enabled wireless telecommunications linked to the Global Positioning System (GPS).
By utilizing advanced biosensor capabilities, Digital Angel will be able to monitor key body functions - such as temperature and pulse - and transmit that data, along with accurate emergency location information, to a ground station or monitoring facility. For more information about Digital Angel, visit http://www.digitalangel.net/.
About Applied Digital Solutions
Applied Digital Solutions (Nasdaq: ADSX - news) is an advanced technology development company that focuses on a range of early warning alert, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Technology Group, the company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers. For more information, visit the company's website at http://www.adsx.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.
Applied Digital Solutions, Palm Beach Investor Contact, Lynn Anderson, 561/805-8007 Media Contact, Matthew Cossolotto, 914/245-9721
|Related News Categories: computers, health care, medical/pharmaceutical, telecom|