Huntsville, AL (PRWEB) June 26, 2006 -– Time Domain Corporation, a world-wide leader in the development of Ultra Wideband (UWB) wireless technologies, has signed an exclusive license agreement with Parco Merged Media Corporation to provide UWB real-time locating systems (RTLS) to the healthcare industry. Parco develops software which enables rapid integration of RTLS data for use within hospitals, nursing homes, and other medical facilities to better enable processes such as work flow, inventory control, asset utilization and billing.
Under the license agreement, Time Domain will provide various types of small tags suitable for wearing as a patient wristband or hospital personnel badge, or for attaching to medical equipment. The locations of the tags will be tracked by UWB readers installed at fixed locations within a medical facility providing the location of patients, caregivers, and equipment within 1.5 feet every second with over 98% reliability.
"Time Domain is already in its 4th generation of UWB at the silicon level and this capability is to be incorporated into the Parco designs", says Bertrand Dugal, President of Parco. "In this regard, Time Domain is several years ahead of anyone else in the industry. For those hospitals waiting on the sidelines for tracking technologies to improve, their wait is over" states Dugal.
According to Scott Cohen, CEO of Parco Merged Media Corp., "Time Domain has engineered a world class cooperative precision location tracking system for Parco and its customers. This new system is designed to pass FCC verifications and CE certifications for industrial, scientific and medical usage. From a commercialization standpoint, Time Domain's solution is compatible with industry standard network switch products enabling Parco and other Time Domain licensees to obtain faster and broader market penetration."
Parco expects to ship beta products to its key customers in September 2006. Commercial shipment of the flagship tracking product will begin in 4th Quarter 2006. Time Domain products will be sold to healthcare customers under the Parco Wireless brand and will be privately branded by leading information technology providers. The products will also be branded with the PulsON Powered™ certification mark which will identify them as genuine, licensed Time Domain UWB products employing Time Domain's patented PulsON® technology. The Parco Wireless products are available through technology wholesalers such as CDW and healthcare information system developers such as Patient Care Technology Systems. A full list of authorized resellers and developers is available on Parco's website www.parcowireless.com.
"We are fortunate Parco not only recognizes the strengths and benefits of UWB in the health care environment but also Time Domain's leadership position in the UWB industry from both a technical and an Intellectual Property perspective", said Will Webb, President and CEO. "Because we have both the superior technology and the IP strength necessary to give licensees a significant competitive advantage in their respective markets, we expect to sign many more licenses for our technology for both tag and tagless tracking applications."
About Time Domain Corporation Time Domain Corporation, a worldwide leader in Ultra Wideband (UWB) technology, is developing and deploying UWB solutions to enable significant advances in radar, precision tracking, and wireless communications. The Company markets its silicon products under the brand name PulsON. Time Domain is currently working with strategic partnerships and customers to integrate PulsON technology into a variety of products. Time Domain maintains the premier patent portfolio for UWB technology, with more than 110 patents issued worldwide. Time Domain is a privately-held corporation with major backing from Pharos Capital. Further information is available on the Internet at www.timedomain.com.
About Parco Wireless
Parco Wireless is the healthcare industry leader in developing location based RFID systems. The company has developed the most reliable and accurate RFID-enabled resource and patient workflow management tools available to hospitals today. Parco's state-of-the art indoor positioning systems use an advanced form of non-interfering RFID called ultra-wide band (UWB) technology as well as advanced software management tools that consistently report sub-foot accuracy for thousands of patients and hospital equipment. Parco is also developing location based applications leveraging the 915MHz, 2.4GHz, and 5.9GHz frequency ranges as well as UWB into a single, multi-use chipset tag design. All of Parco's systems are designed to work with most legacy systems for easy software integration, electromagnetic and radio frequency compatibility. The Parco systems optimize asset utilization in everyday use as well as emergency situations, increase patient flow, reduce wait times, reduce operating costs and improve overall patient care quality. Visit. www.parcowireless.com for more information.
Forward Looking Statements
This press release contains forward-looking statements about Time Domain / Parco Merged Media and the capability of their respective technology that are intended to qualify for the safe-harbor from liability provided by the Private Securities Litigation Reform Act of 1995 and other federal and state laws. There exists several material risks that the forward-looking statements contained in this release may not come true or may be delayed. Readers should view these forward-looking statements with caution and some of the more material risks that could affect these statements are: timely FCC regulatory approval to sell products in the U.S. markets; the need to productize its products; the continuing need for working capital; the risks applicable to a development stage company; the possibility of unforeseen technological obstacles; the risks of managing growth (resource allocation, business focus, and employee retention); and the possible effects of competition in the fast growing Ultra-Wideband and wireless markets.