DELRAY BEACH, Fla., Feb. 29, 2016 (GLOBE NEWSWIRE) — PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today that its Caregiver® FDA-cleared, non-contact thermometer, marketed by the Company’s Thermomedics subsidiary, recorded an estimated 50 million temperatures in 2015. The Caregiver thermometer is targeting the infrared temperature monitoring device market, which is the fastest growing segment of the global temperature monitoring device market estimated at $1 billion by 2020.
Caregiver is a clinical grade, infrared thermometer for measurement of forehead temperature in adults, children, and infants, without contact. It delivers an oral-equivalent temperature directly from the forehead in 1-2 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 (as much as $0.05 to $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.
“The increasing demand for infrared thermometers like Caregiver, which we believe is due to outstanding performance and the ability to limit the spread of infectious diseases and reduce health care costs, is driving growth in the non-contact temperature monitoring device market,” stated William J. Caragol, Chairman and CEO of PositiveID. “With our recent announcement last month that we entered into new agreements with five healthcare products distributors, adding to the existing distribution channel we have established for Caregiver, we are confident we can continue to grow Caregiver’s penetration in the fastest growing segment of the overall market.”
The global market for temperature monitoring devices is forecast to reach $1 billion by 2020, with infrared thermometers experiencing the fastest growth driven in part by concerns over the spread of highly infectious diseases like Ebola, according to Global Industry Analysts, Inc. The Company’s estimated number of temperatures is based on its installed base and industry estimates of the average number of beds and temperatures taken per bed in hospitals daily.
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 future expectations, including the likelihood that the infrared temperature monitoring device market is the fastest growing segment of the global temperature monitoring device market estimated at $1 billion by 2020; the likelihood that Caregiver can offer savings of $250 or more per year per device in probe cover supplies alone; the likelihood that the increasing demand for infrared thermometers like Caregiver is due to outstanding performance and the ability to limit the spread of infectious diseases and reduce health care costs; the likelihood that the increasing demand is driving growth in the non-contact temperature monitoring device market; the likelihood that PositiveID can continue to grow Caregiver’s penetration in the fastest growing segment of the overall market; 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, as amended on December 31, 2015, and 10-Qs filed on November 12, 2015, August 13, 2015, and May 15, 2015, 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.