DELRAY BEACH, Fla., Apr 01, 2010 (BUSINESS WIRE) -- PositiveID Corporation ("PositiveID" or the "Company") (NASDAQ: PSID) announced today that its identity security business, which offers credit reporting, credit scores and credit monitoring services under the NationalCreditReport.com brand to help protect consumers from identity theft, has reached a significant milestone, reporting record growth to 20,000 active subscribers.
According to Javelin Strategy and Research's 2010 Identity Fraud Survey Report, more than 11 million Americans fell victim to identity theft in 2009, and the total annual fraud amount increased by 12.5 percent to $54 billion. Javelin Strategy and Research also reported that 50.2 million Americans were using a credit monitoring service as of September 2008, amounting to a $6 billion to $9 billion industry on an annual basis.
Scott R. Silverman, Chairman and CEO of PositiveID, said, "In addition to helping consumers protect themselves from identity theft as it pertains to credit fraud, we are also focused on combating the growing problem of medical identity theft, which affects 7 percent of identity theft victims. Through our secure personal health record, Health Link, which is interoperable with Microsoft Health Vault and soon-to-be with Google Health, we put consumers in charge of their own health information through a robust, patient-controlled interface."
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 Company to continue to increase subscribers at its NationalCreditReport.com subsidiary and acquire new customers cost effectively, the likelihood that identity theft and the credit monitoring industry will continue to grow, 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 continued growth of its NationalCreditReport.com subsidiary 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 19, 2010, 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
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