Wednesday, May 21, 2008
BYE BYE VERICHIP
Human-implantable RFID microchips face an uncertain future in the wake of developments that the technology's developer, VeriChip, announced last week. The Delray Beach, Florida-based company announced it sold most of its assets to tool manufacturer Stanley Works for $45 million and that the rest of the company is for sale (see VeriChip Sells an RFID Business, More Change May Come). The remaining company essentially consists of the VeriMed Health Link business line, a patient identification service based on VeriChip's controversial, FDA-approved line of implantable RFID tags for lifetime human identification.Read the rest...
"That business is not self-sustainable," VeriChip vice president of corporate development Jay McKeage candidly told RFID Update. "It cannot stand on its own because of the cash burn involved in marketing to consumers."
Hat tip to Catherine of Sienna at Threshing Grain for this one.