(Source: Business Wire)VeriChip Corporation ("VeriChip" or the "Company") (NASDAQ:CHIP) today announced that it has selected Raytheon Microelectronics España (operating as "ELCAN Optical Technologies") for the production of the Company's radio frequency identification (RFID) implantable microchips, including its existing VeriChip microchip for patient identification, its new 8 millimeter microchip for use in Medical Components, Inc.'s (Medcomp) vascular access medical devices, and its glucose-sensing RFID microchip currently under development with RECEPTORS, LLC.

In December 2008, VeriChip purchased all intellectual property related to its implantable RFID business line from Digital Angel Corporation and canceled its manufacturing relationship. Now, the Company is properly aligned and prepared to re-establish its manufacturing capabilities and has chosen to do so with ELCAN Optical Technologies.

Scott R. Silverman, VeriChip's Chairman and CEO, said, "We are pleased to partner with a company that has the name and reputation that ELCAN brings with it."

About ELCAN Optical Technologies (Raytheon Microelectronics España)

ELCAN Optical Technologies is a fully integrated provider of custom, precision optical and electronic solutions for medical, defense & security and commercial customers. ELCAN Optical Technologies, with manufacturing facilities in Midland Ontario, Richardson Texas and Málaga Spain is part of the Raytheon Network Centric Systems group of companies. The Raytheon Company, with 2008 sales of $23.2 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

About VeriChip Corporation

VeriChip Corporation, headquartered in Delray Beach, Florida, has developed the VeriMed Health Link System for rapidly and accurately identifying people who arrive in an emergency room and are unable to communicate. This system uses the first human-implantable passive RFID microchip and corresponding personal health record, cleared for medical use in October 2004 by the United States Food and Drug Administration.

On September 8, 2009, VeriChip Corporation announced it agreed to acquire Steel Vault Corporation (OTCBB: SVUL) to form PositiveID Corporation.