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Asset Tracking: VeriChip
Corporation Sells Two Asset Tracking Systems Totaling Over $400,000
June 11, 2007
VeriChip Corporation,
provider of RFID systems for healthcare and patient-related needs, announced recently that its subsidiary Xmark Corporation
has sold two of its hospital asset/staff location and identification systems for a total value of more than $400,000. Over
$250,000 of those orders has shipped during the Company�s second quarter, and the remainder will ship during the Company�s
third quarter.
According to IDTechEx, a UK-based consulting firm, the market for RFID tags and systems in the healthcare
industry in 2006 amounted to $90M, representing approximately 3% of the total RFID market. IDTechEx has forecast that by 2016,
the market for RFID tags and systems in the healthcare industry will grow to approximately $2.1B. IDTechEx expects that over
the next ten years the second-largest RFID application, by value, within the healthcare industry will be real-time location
systems for staff, patients, visitors and assets. To address this market opportunity, over the last several years the Company
has invested a significant portion of its research and development budget on its hospital asset/staff location and identification
system.
Scott R. Silverman, Chairman and Chief Executive Officer of VeriChip, commented, �As the largest
provider of infant protection systems in North America with over 1,300 installations, we intend to leverage our existing hospital
relationships to grow this newer segment of our business, our asset tracking solution for hospitals. I am pleased to see this
area of our business continue to expand and look forward to announcing additional system sales in the future.�
For more information on Xmark�s healthcare security products, please contact 1-866-559-6275 or email sales@xmark.com.
Additional information can be found online at www.xmark.com.
About Xmark Corporation
Based in Ottawa, Ontario, Xmark Corporation is a wholly owned subsidiary of VeriChip Corporation. For over 25 years,
Xmark Corporation has provided Radio Frequency Identification (RFID) solutions to identify, locate, and protect people and
assets in healthcare environments. Its market-leading infant protection, wander prevention, personal duress, and asset tracking
applications are trusted by over 5,000 healthcare institutions worldwide to keep individuals safe.
Xmark products
are installed and serviced through an international network of authorized dealers, backed by a dedicated technical services
department at Xmark. All aspects of Xmark�s business are certified to the ISO 9001 quality standard.
About VeriChip Corporation
VeriChip Corporation, headquartered in Delray Beach,
Florida, develops, markets and sells radio frequency identification, or RFID, systems used to identify, locate and protect
people and assets. VeriChip's goal is to become the leading provider of RFID systems for people in the healthcare industry.
VeriChip sells passive RFID systems for identification purposes and active RFID systems, through its subsidiary, Xmark Corporation,
for local-area location and identification purposes. VeriChip recently began to market its VeriMed Patient Identification
System for rapidly and accurately identifying people who arrive in an emergency room and are unable to communicate. This system
uses the first human-implantable passive RFID microchip, the implantable VeriChip(TM), cleared for medical use in October
2004 by the United States Food and Drug Administration.
Source: RFID Solutions Online
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