Applied Digital's VeriChip Corporation Acquires Instantel

Instantel Inc.'s Xmark(R) division specializes in smart tag technology for protecting people and assets in healthcare environments. Its Hugs(R) product line is a popular RFID system for preventing the abduction of newborn infants in hospital, while the WatchMate(R) system is used in long-term care facilities to protect wander-prone residents. Instantel recorded revenue of $12.8 million for its fiscal year ended December 31, 2004 with EBITDA of approximately $3.6 million. During the past five years, Instantel's reported revenue reflects a compound annual growth rate of approximately 14%, with strong gross margins and EBITDA margins." Source: TMCnet