PositiveID Corp (OTCMKTS:PSID)
Thermomedics Inc., a subsidiary of PositiveID Corp (OTCMKTS:PSID), reported its second consecutive quarter of significant unit sales growth for its Caregiver thermometer. PositiveID Corp (OTCMKTS:PSID) reported revenues for Medical Devices segment, which consists of sales of Caregiver, for the three months ended March 31, 2017 and December 31, 2016, totaling $95,000 and $71,000, respectively. The markets met the news by sending up shares of PositiveID Corp (OTCMKTS:PSID) by over 30% over the following two days after the sales announcement.
PositiveID Corp (OTCMKTS:PSID) is a life sciences tools and diagnostics company. PositiveID develops proprietary biological detection and diagnostics systems and seeks to protect the intellectual property. PositiveID specializes in the development of microfluidic systems for the automated preparation of and performance of biological assays. The company is also a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security.
The FDA-approved Caregiver thermometer is a professional grade, infrared thermometerused to measure forehead temperatures without the need for contact with the subject. 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 and saves healthcare facilities the cost of thermometer covers. At $0.10 per temperature, storage space, and waste disposal costs, it is estimated that Caregiver can save $250 or more per year per device in probe cover supplies alone. The aggregate savings amount per hospital could easily reach into the tens of thousands of dollars.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
Don’t miss out! Stay informed on $PSID and receive breaking news on other hot stocks by signing up for our free newsletter!
About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.