VeriChip's Recent Acquisition, eXI Wireless, Signs Agreement with Novation
VeriChip's Recent Acquisition, eXI Wireless, Signs Agreement with NovationeXI's RFID Solutions Now Available Through the Leading Supply Services Company in the Healthcare Industry
VeriChip Corporation, a subsidiary of Applied Digital (NASDAQ:ADSX - News), announced today that its recent acquisition, eXI Wireless Inc., has signed a three-year, dual-source agreement with Novation, the supply company of VHA Inc. and the University HealthSystem Consortium (UHC). With this contract, two of eXI's RFID (Radio Frequency Identification) solutions for the healthcare industry will now be made accessible to more than 2,500 VHA and UHC members as top-of-the-line protection solutions.
The contract offers HALO, the leading infant protection system for over a decade, and RoamAlert, the next generation in patient-wandering protection. Using state-of-the-art skin-sensing RFID tag technology, HALO helps healthcare facilities prevent infant abductions, accidental baby-switching, and medical equipment theft and loss while providing a safe work environment for staff. It can also be used to protect pediatric patients, monitor flight-risk patients, and track patients from admission to discharge. RoamAlert is the most complete patient wandering system available today helping nursing homes and assisted living facilities provide the best possible patient, staff, and medical equipment protection and tracking. Both products are part of the company's line of state-of-the-art RFID solutions for the healthcare industry now found in over 3,000 installations worldwide.
"Working with Novation means more healthcare facilities have the opportunity to benefit from the overall peace of mind and cost savings HALO and RoamAlert deliver," said Kevin McLaughlin, Chief Executive Officer, VeriChip Corporation. "We're honored to be a Novation supplier and look forward to working with them."
eXI's announcement today signals the second healthcare purchasing group relationship for the company, building on a contract signed with another organization in September 2003. With both agreements in place, the company's solutions are offered with the two largest purchasing groups within U.S. healthcare.
For more information, please contact 1-800-667-9689 or info@verichipcorp.com.
About VeriChip
VeriChip is a wholly owned subsidiary of Applied Digital and the only company to provide both implanted and external RFID security solutions for people, their assets, and their environments. From the world's first and only FDA-cleared, human-implantable RFID microchip to the only patented active RFID tag with skin-sensing capabilities, VeriChip leads the way in next-generation RFID technologies. Today, over 3,000 installations worldwide in healthcare, security, industrial, and government markets benefit from both the protection and cost savings VeriChip's innovation delivers. For more information on VeriChip, please visit www.verichipcorp.com.
About Applied Digital
Applied Digital develops innovative security products for consumer, commercial, and government sectors worldwide. The Company's unique and often proprietary products provide security for people, animals, the food supply, government/military arena, and commercial assets. Included in this diversified product line are RFID applications, end-to-end food safety systems, GPS/Satellite communications, and telecomm and security infrastructure, positioning Applied Digital as the leader of Security Through Innovation. Applied Digital is the owner of a majority position in Digital Angel Corporation (AMEX:DOC - News).
About Novation
Based in Irving, Texas, Novation was established in January 1998 through a combination of the supply programs of VHA and UHC, two national health care alliances. Novation serves the purchasing needs of more than 2,500 members and affiliates of VHA and UHC. These organizations used Novation contracts to purchase more than $23 billion in supplies in 2004.
Statements about the Company's future expectations, including future revenues and earnings, 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 the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
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Contact:
CEOcast, Inc. for Applied Digital
Ken Sgro, 212-732-4300
kensrgro@ceocast.com
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Source: Applied Digital
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