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Press Release

PositiveID’s Caregiver Average Monthly Sales Increase by 60% Among Customers Participating in National Group Buy Program


Posted on: 24 Oct 16

DELRAY BEACH, Fla., Oct. 24, 2016 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today sales increased for its Caregiver® non-contact thermometer among accounts served by Vizient, Inc., the largest member-driven health care performance improvement company in the country, during its National Group Buy Program.  Average monthly sales to Vizient’s customers increased approximately 60% during the second and third quarters of 2016, compared to average monthly sales to Vizient’s customers during the first quarter of 2016, when no National Group Buy program was in place for Caregiver.

Marketed by PositiveID’s Thermomedics subsidiary, Caregiver, which is FDA cleared for clinical use, is a professional grade, infrared thermometer for measurement of forehead temperature in adults, children, and infants, without contact. It delivers an oral-equivalent temperature directly from the forehead in one to two seconds. Since there is no skin contact and Caregiver does not require probe cover supplies, it reduces the risk of cross-contamination, which is an increasing concern, and saves healthcare facilities the cost of covers (as much as $0.05 to $0.10 per temperature), storage space, and waste disposal costs. It is estimated that Caregiver can offer savings of $250 or more per year per device in probe cover supplies alone.

“Being a part of programs like Vizient’s group buy is just one example of the types of improvements we continue to make as we focus on sales and marketing efforts for Caregiver following our acquisition of Thermomedics in December 2015,” stated William J. Caragol, Chairman and CEO of PositiveID. “We believe that as we expand our distribution channel, increase our participation at tradeshows, implement trials in hospitals, advertise, etc. we will see sustained sales growth for the Caregiver product.”

Vizient, Inc. is the largest member-driven health care performance improvement company in the country, and provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents almost $100 billion in annual purchasing volume. The National Group Buy program is one of several innovative programs from Vizient designed to deliver additional savings each quarter to the hospitals it serves.

About PositiveID Corporation
PositiveID Corporation is a life sciences tools and diagnostics company with an extensive patent portfolio. PositiveID develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID is also a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.

Statements about PositiveID's future expectations, including the likelihood that since there is no skin contact and Caregiver does not require probe cover supplies, it reduces the risk of cross-contamination, which is an increasing concern, and saves healthcare facilities the cost of covers (as much as $0.05 to $0.10 per temperature), storage space, and waste disposal costs; the likelihood that Caregiver can offer savings of $250 or more per year per device in probe cover supplies alone; the likelihood that as the Company expands its distribution channel, increases its participation at tradeshows, implements trials in hospitals, advertises, etc. it will see sustained sales growth for the Caregiver product; constitute "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. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. These risks and uncertainties include, without limitation, the Company’s ability to target the professional healthcare market, as well as other risks. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on April 12, 2016, and 10-Qs filed on August 12, 2016, May 16, 2016, and November 12, 2015, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

GlobeNewswire
globenewswire.com

Last updated on: 25/10/2016

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