PositiveID Corporation Closes Transaction With Thermomedics and the Caregiver Non-Contact Thermometer

DELRAY BEACH, Fla., Dec. 08, 2015 (GLOBE NEWSWIRE) — PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company with an extensive patent portfolio, announced today that it has entered into a First Amendment to the Stock Purchase Agreement to acquire Thermomedics, Inc., which markets the FDA-cleared Caregiver® non-contact thermometer, and entered into a Management Services and Control Agreement, whereby the seller of Thermomedics has fully transferred control of Thermomedics to PositiveID.
In conjunction with these agreements, PositiveID has replaced all of the directors and officers of Thermomedics, Inc. Gary O’Hara, Chief Technology Officer of Thermomedics, and Ron Benincasa, Vice President of Sales and Marketing of Thermomedics, will continue as the leaders of the Caregiver business.
Caregiver is a clinical grade, infrared thermometer for measurement of forehead temperature in adults, children, and infants, without contact. Since there is no skin contact and Caregiver does not require probe cover supplies, it reduces the risk of cross-contamination and saves healthcare facilities the cost of covers (which are as much as $0.05 to $0.15 per temperature), storage space, and waste disposal costs. Caregiver is the world’s first non-contact device with TouchFree™ technology and was developed by the inventors of tympanic thermometry.
Thermomedics currently has agreements with the world’s leading healthcare product distributors. The established distribution and customer channels, including the federal government, for Caregiver are expected to provide synergies to PositiveID as it continues the development and testing of its Firefly Dx real-time pathogen detection system and prepares for commercialization.

Sourced through Scoop.it from: money.cnn.com

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