PositiveID Corporation and Siemens AG Enter Into Agreement to Expand PositiveID's Wireless Body Platform
Siemens' Intellectual Property to Broaden Applications to Improve Disease Management
DELRAY BEACH, Fla., Jan. 4, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID") (Nasdaq:PSID), the leader in next generation patient monitoring, announced today that it has entered into an agreement with Siemens AG ("Siemens") related to its Wireless Body™ platform. The license agreement allows PositiveID to expand its personalized medicine and smart healthcare applications for next generation patient monitoring and includes granting PositiveID rights to utilize key intellectual property, and, in particular, Siemens' Patent No. 7,650,888, titled "Method and System for
Identification of a Medical Implant" using RFID (radio frequency identification).
PositiveID's focus is to use the technology to improve disease management and overall wellness through the effortless identification of implantable medical devices within the body. This application expands PositiveID's Wireless Body, an integrated, in vivo and external, smart healthcare communication system that has the ability to deliver personalized medical solutions wirelessly.
The Wireless Body communication system is based on PositiveID's Patent No. 7,125,382 for an Embedded Bio-Sensor System, and builds upon existing technology and intellectual property portfolio of PositiveID, the developer of the world's first and only health-related implantable RFID microchip cleared by the U.S. Food and Drug Administration. The Wireless Body platform will be designed to enhance wellness and disease management, for diabetes and other chronic illnesses, by allowing healthcare systems to communicate with each other and monitor patients seamlessly.
Scott R. Silverman, Chairman and CEO of PositiveID, said, "We are excited for this opportunity to work together with Siemens and employ their patented technology to rapidly develop our Wireless Body platform. We believe that we are well positioned as a next generation leader in mobile health and personalized sensor tools, with the ability to wirelessly monitor patients, their vital signs and their medical devices via The Wireless Body."
The Wireless Body also has the ability to identify medical devices, currently catheter ports, to allow them to communicate with an external reader to ensure proper medication dosages and safety for the patient.
About Siemens AG
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world's largest provider of environmental technologies, generating some €28 billion — more than one-third of its total revenue — from green products and solutions. In fiscal 2010, which ended on September 30, 2010, revenue totaled €76 billion and net income €4.1 billion. At the end of September 2010, Siemens had around 405,000 employees worldwide. Further information is available on
the Internet at: www.siemens.com.
About PositiveID Corporation
PositiveID Corporation develops and markets healthcare and information management products through its RFID-based diagnostic devices and identification technologies, and its proprietary disease management tools. PositiveID's implantable healthcare devices and external hardware and software products are designed to communicate wirelessly to improve healthcare and the patient's quality of life. For more information on PositiveID, please visit www.positiveidcorp.com.
The PositiveID Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7717
Statements about PositiveID's future expectations, including the ability of PositiveID, through its license agreement with Siemens, to expand its personalized medicine and smart healthcare applications for next generation patient monitoring; PositiveID's ability to use the technology to improve disease management and overall wellness through the effortless identification of medical devices within the body; the likelihood that this application expands PositiveID's Wireless Body, an integrated, in vivo and external, smart healthcare communication system and its ability to deliver personalized medical solutions wirelessly; the ability of The Wireless Body platform to
enhance wellness and disease management, for diabetes and other chronic illnesses, by allowing healthcare systems to communicate with each other and monitor patients seamlessly; PositiveID's ability to employ Siemens' patented technology to rapidly develop its Wireless Body platform; the likelihood that PositiveID is well positioned as a next generation leader in mobile health and personalized sensor tools, with the ability to wirelessly monitor patients, their vital signs and their medical devices via The Wireless Body; the ability of The Wireless Body to identify medical devices, currently catheter ports, to allow them to communicate with an external reader to ensure proper medication dosages and safety for the patient; 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 develop, fund and commercialize The Wireless Body as well as certain other risks. Additional information about these and other factors that could affect PositiveID's business is set forth in PositiveID's various filings with the
Securities and Exchange Commission, including those set forth in PositiveID's 10-K filed on March 19, 2010, and PositiveID's 10-Qs filed on May 6, 2010, August 13, 2010, and November 12, 2010, under the caption "Risk Factors." PositiveID 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.
CONTACT: PositiveID Corporation
Source: PositiveID Corporation
News Provided by Acquire Media
Close window | Back to top