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June 28, 2017
PositiveID Announces Highlights for the First Half of 2017
Highlights Include Strategic Investment of $1.5 Million into ENG Mobile Systems and Formation of ExcitePCR to Position Firefly Dx for Point-of-Care Diagnostics Market
DELRAY BEACH, Fla.
June 28, 2017
(GLOBE NEWSWIRE)
--
PositiveID Corporation (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today a summary of highlights for its mobile labs, molecular diagnostics, and medical device businesses for the first half of 2017.
Highlights
PositiveID closed a $1.5 million strategic investment in its mobile labs subsidiary, E-N-G Mobile Systems, Inc.(ENG),
allowing the company to retire debt, continue the development of Firefly Dx, and for working capital
The company created a new subsidiary, ExcitePCR Corporation, to position its Firefly Dx real-time, point-of-care pathogen detection system for the $19 billion global POC diagnostics market
PositiveID's Thermomedics subsidiary, which markets the Caregiver®
non-contact thermometer, completed development of a Bluetooth®-enabled version of Caregiver
ExcitePCR named recognized biodefense expert Dr. Kimothy Smith, its Chief Science Officer
ENG received a $1.2 million purchase order for mobile labs from a single customer and expanded its service business to offer mobile maintenance and repair
Thermomedics expanded distribution for Caregiver with National Distribution & Contracting and MedPro Associates
PositiveID has reduced its convertible debt balances (principal and accrued interest) by $2 million since the middle of 2016 to mid-year 2017 from approximately $7.6 million to approximately
$5.6 million
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