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BlueCross Payor Begins Pilot For VeriChip’s Implantable Patient ID System

This article was originally published in The Gray Sheet

Executive Summary

VeriChip hopes the launch of a BlueCross BlueShield pilot program will demonstrate to payors the value of its implantable patient identification system

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VeriChip on the block

Firm is seeking potential buyers for its VeriMed health link business, which makes a human-implantable passive radio frequency identification device (RFID). FDA cleared the rice-grain size chip system in October 2004 for medical applications (1"The Gray Sheet" July 24, 2006, p. 12). The technology allows rapid and accurate identification of people who arrive unconscious or otherwise unable to communicate in an emergency room. On May 15, the Delray Beach, Fla.-based company announced a $45 million cash deal to sell its primary operating unit Xmark, which makes non-implantable RFID technology to more easily identify and locate people and assets, to construction and personal security equipment maker Stanley. VeriChip has retained investment banker Kaufman Bros. to assist in the possible sale of the remainder of the company

VeriChip on the block

Firm is seeking potential buyers for its VeriMed health link business, which makes a human-implantable passive radio frequency identification device (RFID). FDA cleared the rice-grain size chip system in October 2004 for medical applications (1"The Gray Sheet" July 24, 2006, p. 12). The technology allows rapid and accurate identification of people who arrive unconscious or otherwise unable to communicate in an emergency room. On May 15, the Delray Beach, Fla.-based company announced a $45 million cash deal to sell its primary operating unit Xmark, which makes non-implantable RFID technology to more easily identify and locate people and assets, to construction and personal security equipment maker Stanley. VeriChip has retained investment banker Kaufman Bros. to assist in the possible sale of the remainder of the company

VeriChip Takes On Privacy, HIPAA Concerns In NCVHS Testimony

VeriChip implantable radiofrequency transponders for patient identification and health information retrieval are "HIPAA-friendly," the manufacturer asserts

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