Patients, doctors staying away from implantable RFID chips

Iria · Feb 13, 2007, 04:24 AM

Source: News.com
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Putting RFID chips into people's arms is, it turns out, not a booming business.

VeriChip, which has created a system for putting RFID chips into humans for medical-record tracking, held an initial public offering on Friday, and the company's stock has been struggling ever since. The stock is currently trading at around $6.15. The company released 3.1 million shares in the IPO for $6.50 a share.

Part of the problem is likely the lackluster sales for the company's most famous product.

Only 222 medical patients in total have opted to get RFID chips from VeriChip implanted as of the end of 2006, according to documents filed by the company with the Securities and Exchange Commission as part of its initial public offering. It's a modest number, the company says, and revenue for these systems is far below projections.

Feb 13, 2007, 04:24 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Patients, doctors staying away from implantable RFID chips Source: News.com __________ Putting RFID chips into people's arms is, it turns out, not a booming business. VeriChip, which has created a system for putting RFID chips into humans for medical-record tracking, held an initial public offering on Friday, and the company's stock has been struggling ever since. The stock is currently trading at around $6.15. The company released 3.1 million shares in the IPO for $6.50 a share. Part of the problem is likely the lackluster sales for the company's most famous product. Only 222 medical patients in total have opted to get RFID chips from VeriChip implanted as of the end of 2006, according to documents filed by the company with the Securities and Exchange Commission as part of its initial public offering. It's a modest number, the company says, and revenue for these systems is far below projections.