PositiveID Corp (OTCMKTS:PSID) CEO Talks About Acquisitions Plans

PositiveID Corp (OTCMKTS:PSID) managed to close just above the previous day’s closing price and to remain in positive territory to finally end the last trading session with a minor gain of 1.89% but the structure of the daily candle was not very bullish. The stock had opened with a sharp gap up but failed to protect the upside as the bears came with good supply at the higher levels. The volume of the day at 13 million against the daily average of 6 million reflected the bearish dominance.

PSID

PositiveID Corp (OTCMKTS:PSID) CEO William J. Caragol appeared in a new audio interview conducted by SmallCapVoice.com. In the interview, Caragol, also the Chairman of PositiveID, talked about the company’s acquisition strategy and recent acquisition report. Last week, the company reported that it finalized a deal to acquire Thermomedics Inc. and Caregiver®.

The details

The deal forms a part of overall growth strategy to enhance revenue and include the complementary products in its product portfolio that possesses massive market penetration potential. PositiveID intends to close the acquisition deal in the last quarter of 2015.

Caregiver®, a non-contact thermometer with TouchFree™ know-how, is an infrared thermometer for measuring forehead temperature in children, infants and adults. The thermometer is an infrared product and doesn’t need skin contact, thereby eliminating the need of probe cover supplies. Also, it reduces probability of cross-contamination risks and reduces expenses for healthcare facilities.

The focus

PositiveID focus remains on its Firefly Dx PCR pathogen detection system, developed to get real-time, accurate diagnostic report in less than twenty minutes utilizing a handheld device. It provides an instant detection source at the treatment scenarios that is not possible with selling systems in the market.

The existing systems needs highly trained staff, lab-based equipment, and consumes hours or even days to achieve results. PositiveID’s Firefly boasts various applications including lab-quality, point-of-need, revealing of pathogenic organisms; agricultural and food screening in developing nations as well in domestic sectors; and detection of biological agents considered as source of mass destruction.

The buzz

PositiveID jumped more than 13% last Friday after a report touting company’s stock appeared in its newsfeed. The report stated that the long-term benefit of company’s recent acquisition is expected to outweigh the short term concerns. Essentially, the released report was optimistic about PositiveID’s future, in spite of the probability that the stock may face bumpy ride in the foreseeable future.

 

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