Verichip files for an IPO

From The Street:

Verichip, the Applied Digital (ADSX:Nasdaq - commentary - research - Cramer's Take) unit that makes and sells radio-frequency chips for use in humans, filed for an initial public offering Friday.

"We believe that our patient identification solution is compelling for emergency room physicians as well as for patients who have cognitive impairment, chronic diseases or implanted medical devices," the prospectus says. "Using our scanners, an emergency room physician can rapidly obtain the patient's name, primary care physician, emergency contact and other pertinent pre-approved data, such as personal health records. We expect that this rapid and accurate identification process will reduce the risk of a patient being misdiagnosed and the potential liability associated with medical errors."