DELRAY BEACH, Fla., July 10, 2012 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), an emerging growth company and developer of advanced technologies for diabetes management as well as sophisticated airborne bio-threat detection systems for America's homeland defense, today announced it has entered into an agreement with Simplex Healthcare, Inc. ("Simplex"), the parent company of the third largest mail order supplier of diabetic testing supplies,
Diabetes Care Club, LLC ("DCC"), to provide PositiveID's iglucose® System for diabetes management to people with diabetes. Simplex will purchase iglucose units and will begin trialing the iglucose mobile health diabetes management solution among its members.
PositiveID's FDA-cleared iglucose uses mobile technology to revolutionize the way individuals with diabetes manage their condition. By wirelessly communicating data from glucometers to the iglucose diabetes management portal, glucose readings can be shared with family members and healthcare professionals. This makes it possible to improve care in a cost-effective manner. iglucose simplifies diabetes management by eliminating the burden of keeping logbooks and empowers individuals with diabetes to be more engaged in the self-management of their condition. iglucose is compatible with leading FDA-cleared glucometers and does not require the use of a cell phone or a wireless plan.
William J. Caragol, Chairman and CEO of PositiveID, said, "We are very pleased to be working with Simplex, a leader in the diabetic testing supply market. As a leader in this space, Simplex has a strong knowledge of what people with diabetes need to improve their self-management for better outcomes, which, we believe, is an important testimonial on the value proposition of iglucose."
Simplex Healthcare, Inc. was founded in April 2007 to provide home delivery of medical supplies for patients with diabetes. Since then, Diabetes Care Club® (DCC), a Simplex wholly owned subsidiary, has grown to become the third largest mail order supplier of diabetic testing supplies for seniors.
The iglucose System collects and transmits stored data from a variety of FDA-cleared blood glucose meters such as Johnson & Johnson LifeScan®, Abbott FreeStyle®, Bayer Contour®, and Nipro Diagnostic™ True™ monitoring systems to a secure database via wireless cellular technology. The Company is continually adding to this list of supported glucose meters. iglucose was recently awarded the Connected World Gold Value Chain Award for Home Health and was selected as a finalist in the Healthcare and Wellness Category of CTIA's annual Emerging Technology (E-Tech) Awards competition. For more information on iglucose, visit www.iglucose.com.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and developer of advanced technologies for diabetes management and rapid medical testing, as well as airborne bio-threat detection systems for America's homeland defense. Its wholly-owned subsidiary, Microfluidic Systems, or MFS, is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats at high-value locations, as well as analyze samples in a medical environment.
For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
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Statements about PositiveID's future expectations, including the likelihood that Simplex will purchase iglucose units and will begin trialing the iglucose mobile health diabetes management solution among its members; the likelihood that PositiveID's FDA-cleared iglucose uses mobile technology to revolutionize the way individuals with diabetes manage their condition; the likelihood that iglucose makes it possible to improve care in a cost-effective manner; the likelihood that iglucose simplifies diabetes management by eliminating the burden of keeping logbooks and empowers individuals with diabetes to be more engaged in the self-management of their condition; the likelihood that Simplex has a strong knowledge of what people with diabetes need to improve their
self-management for better outcomes, which is an important testimonial on the value proposition of iglucose; the likelihood that PositiveID is continually adding to the list of supported glucose meters; 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
PositiveID's ability to successfully commercialize its diabetes management products including iglucose, 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 28, 2012, and 10-Qs filed on May 14, 2012, November 14, 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.
CONTACT: PositiveID Corporation
Source: PositiveID Corporation
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