Bridgetech acquires exclusive distribution rights for PalTrack Asset Tracking technology

Solana Beach 25 July 2005Bridgetech Holdings International Inc., a company focused on maximizing the potential of emerging health care products and services in the United States and Asian markets, has acquired exclusive distribution rights for the PalTrack Asset Tracking System for the United States and China health care markets from Sovereign Tracking Systems LLC (STS). HealthCare Pilot, an operating division of Bridgetech, is a health care solutions provider focused on RFID solutions to improve hospital operations, lower facility costs and improve patient care.

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The HealthCare Pilot asset tracking system utilizes proven RFID or radio frequency technology to track and manage the location and status of any mobile asset, including respiratory ventilators, intravenous pumps, wheelchairs and portable cardiac monitors for health care facilities. With the ability to accurately track and manage portable assets, health care facilities can significantly improve staff productivity, reduce inventory shrinkage and lower their rental costs and capital expenses.

As part of the agreement, Bridgetech acquires STS existing hospital customer base along with a substantial sales pipeline. The agreement also strengthens and extends Bridgetech's intellectual property and patent position, which presents a significant barrier to entry for competing products.

"We are extremely pleased to add the Sovereign asset tracking technology to our efforts in the health care RFID market. HealthCare Pilot provides a tangible return-on-investment to health care facilities by allowing them to accurately locate and determine the availability of assets and improve their timely patient treatment capabilities", stated Michael Chermak, President and CEO of Bridgetech. "With profit margin pressures increasing, health care facilities have a growing need to be able to increase operational efficiencies. HealthCare Pilot allows them to increase asset utilization and decrease expenses related to replacing asset inventory lost as a result of theft, among other reasons. In addition, HealthCare Pilot's reporting capabilities integrate seamlessly into leading enterprise software applications, allowing users to easily manage mobile inventory assets through their existing operating systems."

PalTrack product highlights include:

  • Flexible Hardware Architecture: The PalTrack system architecture is designed to be flexible, allowing health care facilities to easily install the system in a particular area, multi-story facility or multi-building campus.
  • Integration With Other Systems: With PalTrack's open database compliant design, asset tracking data can be easily exported to the leading software applications or distributed by Web-based reporting.
  • Scaleable Software System: The system can be used across a number of departments and facilities, each department having its own local system to manage and track assets.
  • Unobtrusive Multi-Functional Equipment: Each transmitter is less than 2" in diameter, water resistant and determines if equipment is in use or powered off.

Bridgetech is leveraging its extensive network of relationships in China and the United States to capitalize on proprietary opportunities in high growth segments of the health care industry. Bridgetech is expanding its Uited States operations by adding products and services that have the highest probability for incremental success in China. In addition to the China health care market, Bridgetech is focusing on the areas of medical imaging and non-invasive surgery, nurse recruitment and training, and health care facility RFID solutions.


Leslie Versweyveld

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