Press Release
Sub Title: The Beast is here Now
SOURCE: Applied Digital Solutions
Wednesday December 19, 2001 8:06 am Eastern Time
Applied Digital Solutions Introduces Verichip, a Miniaturized, Implantable
Identification Device With a Variety of Medical, Security and Emergency
Applications
PALM BEACH, Fla.--(BUSINESS WIRE)--Dec. 19, 2001--Applied Digital Solutions,
Inc. (Nasdaq: ADSX - news), an advanced digital technology development
company, announced today that it has developed a miniaturized, implantable
identification chip -- called VeriChip(TM) -- that can be used in a variety
of medical, security and emergency applications.
How VeriChip Works
VeriChip is an implantable, 12mm by 2.1mm radio frequency device about the
size of the point of a typical ballpoint pen. Each VeriChip will contain a
unique identification number and other critical data. Utilizing an external
scanner, radio frequency energy passes through the skin energizing the
dormant VeriChip, which then emits a radio frequency signal transmitting the
identification number and other data contained in the VeriChip. The scanner
will display the identification number, but the VeriChip data can also be
transmitted, via telephone or the Internet, to an FDA compliant, secure
data-storage site. It will then be accessible by authorized personnel.
Inserting the VeriChip device is a simple procedure performed in an
outpatient, office setting. It requires only local anesthesia, a tiny
incision and perhaps a small adhesive bandage. Sutures are not necessary.
Medical Device Identification
Hundreds of thousands of medical devices are surgically implanted into
patients every year. Examples of these life-saving and life-enhancing
devices include pacemakers, artificial joints, orthopedic hardware, heart
valves, and medication pumps. After insertion, these devices often require
adjustment, repair, replacement, or even recall. VeriChip, inserted
subdermally just above the implanted medical device, provides patients,
medical providers, and manufacturers with a rapid, secure and non-invasive
method for obtaining medically critical information about the device.
VeriChip is a ready source of data about the patient's name and condition as
well as the medical device's original components, required settings and
other essential parameters. Future applications may include full medical
record archival/retrieval for emergency medical care.
Emergency or Security-related Identification
Personal identity verification technology has gained considerable interest
recently. A great deal of focus has been trained on so-called ``biometric''
technologies - which identify individuals by their unique biological or
physical characteristics, such as fingerprints, voiceprints, retina
characteristics, and face recognition points. VeriChip, by contrast, relies
on imbedded, tamper-proof, microchip technology, which allows for
non-invasive access to identification, medical and other critical data. Use
of advanced VeriChip technology means that the threat of theft, loss,
duplication or counterfeiting of data is substantially diminished or
eliminated. Specific application areas include: enhancement of present forms
of identification, search and rescue, and various law enforcement and
defense uses.
Commenting on the announcement, Richard J. Sullivan, Chairman and CEO of
Applied Digital Solutions stated: ``With VeriChip, Applied Digital has taken
another significant step in developing leading-edge personal security
technologies for a rapidly evolving marketplace. VeriChip joins Digital
Angel(TM) and Thermo Life(TM) in our repertoire of breakthrough
technologies. All of these are designed specifically to save lives, enhance
personal security and improve quality of life. We're looking forward to
working with the medical community and other potential partners to bring
VeriChip to market as quickly as possible.''
About Digital Angel(TM)
Digital Angel represents the first-ever combination of advanced biosensor
technology and Web-enabled wireless telecommunications linked to Global
Positioning Systems (GPS). By utilizing advanced biosensor capabilities,
Digital Angel will be able to monitor key body functions - such as
temperature and pulse - and transmit that data, along with accurate location
information, to a ground station or monitoring facility. Digital Angel
Corporation has announced a proposed merger with Medical Advisory Systems.
For more information on Digital Angel, visit www.digitalangel.net.
About Thermo Life(TM)
In November of 2001, Applied Digital Solutions created a wholly owned
subsidiary called Advanced Power Solutions, Inc. (APSI). This new unit will
further develop, market and license Thermo Life(TM), a proprietary,
thermoelectric generator powered by body heat. Thermo Life is intended to
provide a miniaturized power source for a wide range of consumer electronic
devices, including attachable or implantable medical devices, wristwatches
and other consumer devices. The Company estimates that the potential
marketplace for Thermo Life exceeds $30 billion.
About Applied Digital Solutions, Inc.
Applied Digital Solutions is an advanced digital technology development
company that focuses on a range of early warning alert, miniaturized power
sources and security monitoring systems combined with the comprehensive data
management services required to support them. Through its Advanced Wireless
unit, the Company specializes in security-related data collection,
value-added data intelligence and complex data delivery systems for a wide
variety of end users including commercial operations, government agencies
and consumers. For more information, visit the company's website at
http://www.adsx.com.
Statements about the Company's future expectations, including future
revenues and earnings, 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. The Company intends that such forward-looking statements
involve risks and uncertainties and are subject to change at any time, and
the Company's actual results could differ materially from expected results.
The Company undertakes no obligation to update forward-looking statements to
reflect subsequently occurring events or circumstances.
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Contact:
Applied Digital Solutions
Investor Contact, Robert Jackson, 561/805-8042 Email - rjackson@adsx.com
or
Media Contact, Matthew Cossolotto, 914/245-9721 Email - matthew@ovations.com
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