RFID Infant Protection Company Acquired ...

RFID Infant Protection Company Acquired: Applied Digital's VeriChip Corporation Acquires Instantel, Inc., Including Its Health Security Division Xmark, Expanding Company's Position in Healthcare Security ...

Verichip acquires RFID solutions company with track record in healthcare security through infant protection and patient tracking ...

... "Instantel Inc.'s Xmark division specializes in smart tag technology for protecting people and assets in healthcare environments. Its Hugs product line is a popular RFID system for preventing the abduction of newborn infants in hospital, while the WatchMate system is used in long-term care facilities to protect wander-prone residents. Instantel recorded revenue of $12.8 million for its fiscal year ended December 31, 2004 with EBITDA of approximately $3.6 million. During the past five years, Instantel's reported revenue reflects a compound annual growth rate of approximately 14%, with strong gross margins and EBITDA margins. " ...

VeriChip is a wholly owned subsidiary of Applied Digital and the only company to provide both implanted and external RFID security solutions for people, their assets, and their environments. From the world's first and only FDA-cleared, human-implantable RFID microchip to the only patented active RFID tag with skin-sensing capabilities, VeriChip leads the way in next-generation RFID technologies. Today, over 3,000 installations worldwide in healthcare, security, industrial, and government markets benefit from both the protection and cost savings VeriChip's innovation delivers.