DELRAY BEACH, Fla., Mar 23, 2010 (BUSINESS WIRE) -- PositiveID Corporation ("PositiveID" or the "Company") (NASDAQ: PSID) announced today that it has filed with the U.S. Patent and Trademark Office a non-provisional patent application for its iGlucose system, currently under development, which uses wireless SMS messaging to automatically communicate a diabetic patient's blood glucose levels from any data-capable glucose meter to an online database.
The iGlucose system is designed to communicate automatically with a wide variety of glucometers by utilizing electronics and stored information that will query and recognize a particular glucometer when connected to the device. This recognition aspect is unique because there are differences in how data is retrieved from different meters and manufacturers.
The iGlucose system also successfully addresses obstacles in SMS data transmission. Blood glucose and other data must be packed into a buffer to make most efficient use of the available bits, since SMS text messages are limited to 140 characters in a single message. Due to SMS transmission limitations, iGlucose utilizes proprietary data compression software and encryption algorithms to overcome these challenges.
Scott R. Silverman, Chairman and CEO of PositiveID, said, "We are pleased to file this patent application to protect the key technology underlying the iGlucose System. We believe iGlucose has the potential to revolutionize the way diabetics and their healthcare providers manage this widespread disease through more effective and consistent communication of blood sugar levels."
With the iGlucose system, there is no downloading, dialing, computer, software or cell phone needed to complete the transmission.
According to a November 2009 study by researchers at the University of Chicago published in the journal Diabetes Care, the number of diabetics in the U.S., which currently stands at 23.7 million, may almost double in 25 years, and the annual cost of treating them may triple to $336 billion.
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 operates in two main divisions: HealthID and ID Security. For more information on PositiveID, please visit www.PositiveIDCorp.com.
Statements about PositiveID's future expectations, including the ability of the iGlucose system to communicate blood sugar readings from all glucose meters to an online database, the ability of the iGlucose system to revolutionize the way diabetics and their healthcare providers manage diabetes through more effective and consistent communication of blood sugar levels, the likelihood that the number of diabetics will almost double in 25 years and the annual cost of treating them will triple to $336 billion, 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 capabilities and functionality of the iGlucose system 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 February 12, 2009, 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
Allison Tomek, 561-805-8000
Dan Schustack, 212-732-4300
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