VeriChip is planning to raise as much as $45.8 million in a second quarter IPO. To date less than 8,000 people have had the VeriChip tag implanted in their bodies. Numerous press releases from VeriChip have reported active “adoption” of the technology by hospitals.
its outlook by promoting the chip to a broader audience. According to a
study VeriChip commissioned last year, the chips have a potential
market of about 45 million patients. VeriChip has not yet decided how
many common shares it will sell or the price range for those shares.
– the only company approved by the FDA to sell implanted chips for
humans – is following a business model similar to that of Digital Angel,
which produces microchips to track animals. Digital Angel provided
chip-reading scanners to animal shelters at no cost. VeriChip so far
has provided free scanners to nearly 70 U.S. hospitals, and the
company's system is installed in about 4,000 health care facilities
that use VeriChip's bracelet-identification product.
I'll be surprised if their IPO does well, but then this site has gotten a lot of hits regarding the pending VeriChip IPO.
[Hat tip: iHealthBeat]