October 11 2007
VeriChip Corporation Adds More Than 200 Hospitals to its VeriMed Patient Identification System at the American College of Emergency Physicians (ACEP) Conference, Far Surpassing Last Year's Enrollment
Over 900 hospitals are now registered in the VeriMed system and more than 200 hospitals are protocol-adopted, already exceeding 2007 full-year stated guidance
DELRAY BEACH, FL - October 11, 2007 - VeriChip Corporation (the "Company") (NASDAQ: CHIP), a provider of RFID systems for healthcare and patient-related needs, announced today that more than 200 new healthcare facilities registered in the VeriMed(TM) Patient Identification System at the American College of Emergency Physicians (ACEP) 38th Annual Scientific Assembly. This brings the total number of hospitals that are registered in the VeriMed system to over 900. Additionally, the Company now has more than 200 protocol-adopted hospitals in its network, thereby surpassing its full-year stated goal of 800 hospital registrations and 200 protocol adoptions.
Scott R. Silverman, Chairman and Chief Executive Officer of VeriChip, said, "I am extremely proud of our team's noteworthy achievement, which emphasizes the importance of the VeriMed Patient Identification System in improving access to identification and medical records information in an emergency situation. By handily beating our stated goal for our network build-out for the full-year 2007 in October, our proof of concept is stronger than ever, especially with the robust enrollment in our VeriMed system by those at this year's ACEP conference. This record-breaking two-day enrollment shows strong support by the medical community that this is a safe and reliable medical device. Once the new healthcare facilities are protocol-adopted, we will have significantly expanded the infrastructure necessary to support our marketing activities designed to drive VeriChip's adoption.
"For the remainder of this year and going forward, we will continue to build out our network, which includes converting registered hospitals to protocol-adopted hospitals. With the recent launch of our new Patient First payment model, we will also continue to focus on patient enrollment in those areas where we have a concentrated presence of protocol-adopted facilities."
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. The Company recently began marketing its VeriMed(TM) 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.
VeriChip Corporation is majority-owned by Applied Digital Inc. (NASDAQ: ADSX), which also owns a majority position in Digital Angel Corporation (AMEX: DOC). For more information on VeriChip, please call 1-800-970-2447, or email firstname.lastname@example.org. Additional information can be found online at www.verichipcorp.com.
Phone: (561) 805-8008