DELRAY BEACH, Fla., Nov. 28, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB:PSID), a developer of medical technologies for diabetes management and clinical diagnostics, announced today its iglucose™ mobile health device has successfully completed all Federal Communications Commission ("FCC") required testing. As a result, the iglucose System now meets the regulatory requirements of the FCC to be sold in the U.S. PositiveID recently received clearance from the U.S. Food and Drug Administration ("FDA") to market the iglucose System in the U.S.
iglucose uses mobile technology to empower individuals with diabetes to be more engaged in the self-management of their condition by eliminating the need to keep manual logbooks. iglucose wirelessly and seamlessly communicates blood glucose readings from market leading, data-capable glucometers to the iglucose diabetes management portal, where, with the user's consent, glucose readings can be shared automatically with family members, caregivers and healthcare professionals via text message, email or fax. This makes it possible to improve care in a cost-effective manner and stay in touch with loved ones. The iglucose diabetes management portal creates graphs, charts and reports that can help people with diabetes and their healthcare professionals track blood glucose levels and improve diabetes management plans. iglucose does not require the use of a cell phone or a wireless plan.
"Successfully passing all FCC required testing of iglucose so soon after receiving FDA clearance, we believe, is a testament to our excellent engineering team and device design, which enabled us to pass all certification testing with no redesigns required. All wireless communication devices must pass FCC certification prior to commercial launch, and these mandatory regulatory clearances now position us to bring iglucose, a first-of-its-kind product, to market to simplify the lives of individuals with diabetes," stated William J. Caragol, Chief Executive Officer of PositiveID.
PositiveID intends to bring iglucose to market in the first quarter of 2012 through initial roll-outs with healthcare insurers and home-healthcare providers. The goal of these pilot programs is to receive insurance reimbursement for iglucose. The Company believes the initial pilot programs, after an evaluation period, will lead to widespread adoption among the patient base. PositiveID already has the wireless infrastructure in place through partnerships with AT&T in the U.S. and Rogers Communications in Canada, and will look to add additional wireless partners.
The Company's FCC testing demonstrated that the product is in compliance with FCC Part 15B.
More than 25 million children and adults in the U.S. have diabetes, or over 8 percent of the population, according to the 2011 National Diabetes Fact Sheet. The CDC predicts that nearly 30 percent of children born after the year 2000 will develop diabetes. Worldwide, the number of adults with diabetes has doubled over the last three decades to nearly 350 million and increased nearly three-fold in the U.S., according to a study published in the British journal Lancet. The lifetime risk of developing diabetes for those born in the year 2000 is 35 percent. The total cost of diagnosed diabetes in the U.S. is estimated at $200 billion.
For more information on iglucose, please visit www.iglucose.com.
About PositiveID Corporation
PositiveID Corporation develops unique medical devices and molecular diagnostic systems, focused primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MFS, is focused on the development of microfluidic systems for automated preparation of and performance of biological assays. For more information on PositiveID, please visit www.PositiveIDCorp.com.
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Statements about PositiveID's future expectations, including the likelihood that the Company's iglucose System now meets the regulatory requirements of the FCC to be sold in the U.S.; the ability of iglucose to use mobile technology to empower individuals with diabetes to be more engaged in the self-management of their condition by eliminating the need to keep manual logbooks; the likelihood that iglucose makes it possible to improve care in a cost-effective manner and stay in touch with loved ones; the likelihood that the iglucose diabetes management portal creates graphs, charts and reports that can help people with diabetes and their healthcare professionals track blood glucose levels and improve diabetes management plans; the likelihood that successfully passing all FCC required testing of iglucose so soon after receiving FDA clearance is a testament to the Company's excellent engineering team and device design; the likelihood that these mandatory regulatory clearances now position PositiveID to bring iglucose, a first-of-its-kind product, to market to simplify the lives of individuals with diabetes; the likelihood that PositiveID intends to bring iglucose to market in the first quarter of 2012 through initial roll-outs with healthcare insurers and home-healthcare providers; the likelihood that the initial pilot programs, after an evaluation period, will lead to widespread adoption among the patient base; the likelihood that PositiveID already has the wireless infrastructure in place through partnerships with AT&T in the U.S. and Rogers Communications in Canada, and will look to add additional wireless partners; 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 PositiveID's actual results could differ materially from expected results. These risks and uncertainties include PositiveID's ability to successfully complete commercialize iglucose; the Company's ability to reach widespread adoption among the patient base; the Company's ability to receive insurance reimbursement, as well as certain 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 25, 2011, and 10-Qs filed on May 13, 2011, August 15, 2011, and November 14, 2011, 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.