The Global Hospital Acquired Disease Testing Market, Which Includes Testing for MRSA and Other Infections, is Expected to Reach $7.5 Billion by the End of 2019
DELRAY BEACH, Fla., Aug. 12, 2015 (GLOBE NEWSWIRE) — PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a developer of biological detection and diagnostics solutions, announced today that it successfully detected methicillin-resistant Staphylococcus aureus (“MRSA”) on its Firefly Dx polymerase chain reaction (“PCR”) breadboard prototype pathogen detection system (“prototype system”) in less than 20 minutes. MRSA is a bacterium that is resistant to the antibiotics commonly used to treat ordinary staph infections, and therefore it is difficult to treat.
Most MRSA infections occur in people who have been in hospitals or other health care settings, in which cases it is known as health care-associated MRSA (HA-MRSA). HA-MRSA infections typically are associated with invasive procedures or devices, such as surgeries, intravenous tubing or artificial joints.
According to a market study published by Transparency Market Research, the global hospital acquired disease testing market is forecast to grow at a CAGR of 19.3% during the period of 2013-2019, and is expected to reach US$7.5 billion by the end of 2019.
The MRSA assay was run on the Firefly Dx prototype system, which the Company is developing to be a handheld, fully automated, lab quality, real-time device able to detect these types of threats. Currently tests are run on large lab equipment and take a minimum of four hours to deliver results. A design advantage of Firefly Dx is that it does not require additional equipment or separate steps for sample preparation and purification, unlike current lab-based equipment, thus reducing time to results as well as cost per test. In addition, there is significantly less chance of sample contamination compared to existing testing methods.
“We are excited by the continued positive results from the ongoing testing and development of our Firefly Dx prototype system,” stated William J. Caragol, Chairman and CEO of PositiveID. “With the increasing prevalence of healthcare associated infections and the increasing number of pathogens that are becoming drug resistant, there is an important need for rapid, cost-effective testing solutions for hospital acquired disease testing.”
PositiveID’s Firefly Dx is designed to provide real-time, accurate diagnostic results in a handheld device, thereby leading to treatment scenarios at the point of need that are not possible with existing systems, which require lab-based equipment, highly trained personnel, and can take hours or even days to provide results. Firefly’s applications include point-of-need, lab-quality, detection of pathogenic organisms; agricultural screening in both domestic sectors and developing countries; and detection of biological agents associated with weapons of mass destruction.
About PositiveID Corporation
PositiveID Corporation is an emerging growth company and developer of biological detection systems for America’s homeland defense industry as well as rapid biological testing. PositiveID is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats and analyze biological samples. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.
Statements about PositiveID’s future expectations, including the likelihood that the global hospital acquired disease testing market is forecast to grow at a CAGR of 19.3% during the period of 2013-2019, and is expected to reach US$7.5 billion by the end of 2019; the likelihood that with the increasing prevalence of healthcare associated infections and the increasing number of pathogens that are becoming drug resistant, there is an important need for rapid, cost-effective testing solutions for hospital acquired disease testing; the likelihood that Firefly Dx is designed to provide real-time, accurate diagnostic results in a handheld device, thereby leading to treatment scenarios at the point of need that are not possible with existing systems, which require lab-based equipment, highly trained personnel, and can take hours or even days to provide results; 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 bio-threat detection and rapid medical testing sectors; the Company’s ability to complete the development of its Firefly Dx system; 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 30, 2015, and 10-Qs filed on May 15, 2015, November 17, 2014, and August 14, 2014, 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.
Contact: PositiveID Corporation Allison Tomek (561) 805-8044 firstname.lastname@example.org Investor Relations Circadian Group (647) 930-1037