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$PSID Finalized Ownership of Thermomedics, Inc.

In its continued efforts to create shareholder value, innovate and create lower-cost healthcare solutions, and diversify its product offerings, PositiveID Corp. (OTC: PSID) has finalized its agreement to purchase all assets of Thermomedics, Inc. This acquisition gives PositiveID Corp. access to the company’s Caregiver infrared thermometer, which is a touch-free device that cuts costs by eliminating the need for disposable probe cover supplies and reduces the possibility of cross-contamination through contact with various infected patients. The cost savings from owning such a device are $0.05 to $0.15 per temperature taken, which presents a huge cost-saving opportunity to healthcare facilities across the world.

In addition to acquiring the Caregiver technology, PositiveID Corp. has retained several of the key players who have made the Thermomedics company successful to begin with, including Gary O’Hara, Chief Technology Officer of Thermomedics, and Ron Benincasa, Vice President of Sales and Marketing of Thermomedics, who will continue to work on the Caregiver part of the business. Thermomedics has existing sales and distribution channels in place in both the private healthcare sector and with governments. PositiveID Corp. intends to leverage these existing relationships and synergies to help commercialize its Firefly Dx real-time pathogen detection system.

The company is very excited about its new acquisition, with the temperature-taking industry expected to exceed $1 billion by 2020, there is tremendous opportunity in that market alone; the synergies between the two operations, however, creates perhaps more potential yet for PositiveID Corp. to become an even more well-known name in the biotech arena.

http://slatepeak.com/investor-relations/psid-finalized-ownership-thermomedics-inc/