DELRAY BEACH, Fla., July 18, 2017 (GLOBE NEWSWIRE) -- PositiveID Corporation (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today its Thermomedics Inc. subsidiary has reported its second consecutive quarter of significant unit sales growth for its Caregiver ® non-contact thermometer. Sequential unit sales of the caregiver non-contact thermometer grew 48% in the first quarter and 37% in the second quarter of 2017.
Thermomedics has expanded the distribution channel for Caregiver in 2017, adding National Distribution & Contracting (NDC) and MedPro Associates to its network. NDC purchases units of Caregiver to distribute to its member distributors serving the acute care, alternate site, long-term care and home health segments. MedPro, a national contracted sales firm, markets Caregiver to the alternate site and long-term care markets, along with targeted acute care facilities.
Caregiver, which is FDA cleared for clinical use, is a professional grade, infrared thermometer for measurement of forehead temperature without contact in adults, children, and infants. It delivers an oral-equivalent temperature directly from the forehead in one to two seconds. Since there is no skin contact and Caregiver does not require probe cover supplies, it reduces the risk of cross-contamination, which is an increasing concern, and saves healthcare facilities the cost of covers, which are as much as $0.10 per temperature, storage space, and waste disposal costs. It is estimated that Caregiver can offer savings of $250 or more per year per device in probe cover supplies alone.
“Building out the distribution channel for Caregiver to access broad segments of the healthcare market is an essential part of our plan to grow sales,” stated Gary O’Hara, Chief Technology Officer of Thermomedics. “As we continue to focus on finding the right partners to increase our sales pipeline opportunities, we are also dedicated to improving our technology and product offering to be on top of industry trends like our newest Bluetooth ® -enabled Caregiver.”
PositiveID reported revenues for Medical Devices segment, which consists of sales of Caregiver, for the three months ended March 31, 2017 and December 31, 2016, totaling $95,000 and $71,000, respectively. PositiveID expects to report revenues for the second quarter of 2017, when it files its Form 10-Q in August 2017.
About PositiveID Corporation PositiveID Corporation is a life sciences tools and diagnostics company with an extensive patent portfolio. PositiveID develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID is also a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. For more information on PositiveID, please visit http://www.psidcorp.com , or connect with PositiveID on Twitter , Facebook or LinkedIn .
Statements about PositiveID's (the “Company”) future expectations, including the likelihood that since there is no skin contact and Caregiver does not require probe cover supplies, it reduces the risk of cross-contamination, which is an increasing concern, and saves healthcare facilities the cost of covers, which are as much as $0.10 per temperature, storage space, and waste disposal costs; the likelihood that Caregiver can offer savings of $250 or more per year per device in probe cover supplies alone; the likelihood that as the Company continues to focus on finding the right partners to increase its sales pipeline opportunities, it is also dedicated to improving its technology and product offering to be on top of industry trends like its newest Bluetooth-enabled Caregiver; constitute "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, without limitation, the Company’s ability to target the professional healthcare market; the Company’s ability to attract and retain new customers; as well as 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 31, 2017, and 10-Qs filed on May 15, 2017, November 18, 2016, and August 12, 2016, 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.
Contacts: PositiveID Corporation Allison Tomek (561) 805-8044 Paul Knopick E & E Communications 940.262.3584
