ADSX after the bell...
Monday March 25, 4:31 pm Eastern Time
Press Release
SOURCE: Applied Digital Solutions, Inc.
Digital Angel Corporation and Life Care Services Begin Nationwide Beta Test
``Digital Angel will begin watching over residents at LCS facilities!''
PALM BEACH, Fla.--(BUSINESS WIRE)--March 25, 2002-- Applied Digital Solutions, Inc. (Nasdaq: ADSX - news), an advanced technology development company, announced today that Digital Angel Corporation, its wholly owned subsidiary, has begun a beta testing program with Life Care Services, LLC, the leading developer and manager of continuing care senior communities in the United States.
On or before April 1, 2002, Digital Angel Corporation is expected to merge into Medical Advisory Systems, Inc., (Amex: DOC - news) following a favorable vote of MAS shareholders on March 18, 2002.
The beta testing program with LCS, which will involve 12 of LCS's 100 locations nationwide, is designed to provide LCS nursing personnel with hands-on experience in using Digital Angel's advanced GPS location technology in caring for LCS assisted living residents. The problem of elderly residents wandering away and endangering themselves is a common concern in many assisted living facilities. The Digital Angel technology has been designed specifically to safeguard against wandering.
Beyond this initial beta testing program, Digital Angel and LCS are exploring a range of potential cooperative initiatives designed to bring the benefits of Digital Angel's advanced technology to residents throughout the LCS system of assisted living communities and beyond.
Commenting on the beta testing program and the evolving relationship with LCS, Randolph K. Geissler, CEO of Digital Angel Corporation said: ``LCS is a respected leader in the assisted living community. We're delighted to announce this beta testing program and we're very hopeful this initial step will lead to a broader, mutually advantageous relationship between LCS and Digital Angel. The real winners in this collaboration will be the LCS residents and their loved ones who will derive increased peace of mind knowing Digital Angel will begin watching over residents of LCS facilities.''
Digital Angel's Personal Safety and Location product is currently being marketed in South Florida as part of the first phase in its national rollout. Orders can be placed from around the country through the company's website (www.digitalangel.net). The watch/pager device communicates ``where-you-are'' and ``how-you-are'' data through Digital Angel's proprietary delivery system to its 24/7 operations center in California.
About Life Care Services LLC (LCS)
Life Care Services (LCS) began serving the senior residence industry in the early 1960's. Since then, LCS has been actively involved in the planning, development, or management of more than 100 senior resident communities throughout America. LCS is flexible in tailoring its services to the owners' needs for assistance in the areas of Management Services, Development, Marketing and Sales, Home Health, Assisted Living and Consulting Services. LCS is affiliated with the following organizations: Assisted Living Federation of America; American Association of Homes and Services for the Aging; American Seniors Housing Association; International Association of Homes and Services for the Aging; National Association for Senior Living Industry Executives; National Multi-Housing Council; and The Frist Center: A Learning Center for Senior Living. For more information about LCS, please visit lcsnet.com.
About Digital Angel(TM)
Digital Angel represents the first-ever combination of advanced biosensor technology and Web-enabled wireless telecommunications linked to Global Positioning Systems (GPS). By utilizing advanced biosensor capabilities, Digital Angel will be able to monitor key body functions - such as temperature and pulse - and transmit that data, along with accurate location information, to a ground station or monitoring facility. Applied Digital Solutions is exploring a wide range of potential applications for Digital Angel, including: monitoring the location and medical condition of at-risk patients; locating lost or missing individuals; locating missing or stolen household pets; monitoring the location of certain parolees; managing livestock and other farm-related animals; pinpointing the location of valuable stolen property; managing the commodity supply chain; preventing the unauthorized use of firearms; and providing a tamper-proof means of identification for enhanced e-commerce security. For more information on Digital Angel, visit www.digitalangel.net.
About Medical Advisory Systems
Medical Advisory Systems, Inc. is a global leader in telemedicine that has operated a 24/7, physician-staffed call center in Owings, MD for nearly 20 years. Through a worldwide telecommunications network, MAS provides health care to ships-at-sea and other remote locations, one-on-one ``chats'' with a physician via the Internet or telephone, as well as medical and non-medical services for the travel industry. MAS owns a 12% equity interest in Paris-based CORIS Group, which provides it with the ability to offer its services in over 30 countries worldwide. For additional information, visit www.mas1.com.
About Applied Digital Solutions, Inc.
Applied Digital Solutions is an advanced technology development company that focuses on a range of early warning alert, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Wireless unit, the Company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers. For more information, visit the company's website at adsx.com.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are ``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 the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
