(Traverse City, MI, April 13, 2010) – Versus Technology, Inc. (Versus) (PINKSHEETS: VSTI) has been recognized as one of the 2010 “Michigan 50 Companies to Watch,” an awards program sponsored by the Edward Lowe Foundation and presented by Michigan Celebrates Small Business.
Versus will be honored at an awards ceremony during the sixth annual Michigan Celebrates Small Business event, April 29 in Lansing, Mich.
For over 20 years, Versus has provided its Real-time Locating System (RTLS) to hospitals and clinics to help staff identify the locations of patients and much needed resources like IV pumps and wheelchairs. To support the real-time locating functionality, patients and staff are provided location-enabled badges and equipment is tagged with similar digital devices. A network of ceiling-mounted sensors detect the unique signals from the badges and tags to identify the real-time locations of patients and equipment. This location data is displayed automatically on map and list views within Versus’ software and communicated to 3rd-party information systems to improve timeliness and reduce the need for manual data entry. Sophisticated rules are also applied to couple location data with patient data, which, in turn, allows for clinical workflow automation.
With the industry’s most accurate RTLS technology, Versus makes it possible to manage workflows in real-time and automates a variety of clinical services such as nurse call systems, bed management systems, hand hygiene compliance reporting and medication dispensing units. Because the locations of patients and needed equipment are instantly available, timeliness of care is improved. In all, Versus streamlines patient flow and improves safety while providing situational awareness to caregivers and administrators.
“With the focus on healthcare reform and reducing the costs of care, we’re really in an exciting place right now,” says Gary Gaisser, CEO of Versus Technology. “Our solution is entirely focused on healthcare delivery—making healthcare safer and more efficient. Being recognized as a Company to Watch is really a reflection of this commitment and the people who make it happen.”
“Now 300 strong, the second-stage businesses that comprise the Michigan 50 Companies to Watch have not only persevered through challenging times, but also found opportunities to grow,” says Penny Lewandowski, director of entrepreneurship development at the Edward Lowe Foundation. “They continue to hire and develop new markets for their products and services. Some have attracted significant amounts of venture capital, while others have been awarded prestigious federal grants. They are making a substantial difference in their communities — and their industries. Our 2010 inductees are proof that entrepreneurs are, and always have been, the future of Michigan’s economy.”
Companies making it to the “Michigan 50 Companies to Watch” list are a remarkable group of second-stage companies. Defined as having 6 to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants, these companies form the back-bone of Michigan’s economy. Representing all regions of the state and a diverse range of industries, companies like Versus are known for their exceptional entrepreneurial leadership, creation of innovation or use of innovation in creative ways, and their sustainable competitive advantage.
Winners were selected by Michigan-based judges from the banking, economic development, entrepreneurship development and venture capital communities.
About Michigan 50 Companies to Watch
Michigan 50 Companies to Watch is presented by Michigan Celebrates Small Business.
PNC Bank is the lead underwriter for Michigan Celebrates Small Business, with additional underwriting support from Clark Hill PLC, Michigan Economic Development Corporation, Michigan Certified Development Corporation, Accident Fund Insurance Company of America, Comcast Business Class, Comcast Spotlight, and Dynamic Edge.
Michigan Celebrates Small Business is presented in association with the Michigan Economic Development Corporation, Michigan Small Business & Technology Development Center, Small Business Association of Michigan, the U.S. Small Business Administration – Michigan, and the Edward Lowe Foundation.
Information about the 2010 Michigan 50 Companies to Watch program can be found at Michigan.CompaniesToWatch.org. For information about Michigan Celebrates Small Business, visit MichiganCelebrates.biz.
About Versus Technology, Inc.
For nearly 20 years, Versus Technology, Inc. has maintained the leadership position in the development and sale of context-aware real-time location systems (RTLS) used for enterprise patient tracking, bed management and asset tracking to improve patient flow and caregiver/patient communications in hospitals, clinics and long-term care facilities. Versus also develops dual infrared and Active RFID tags and other location tracking hardware to make locating systems more precise, security systems more intelligent, nurse call systems automatic, and hospital asset tracking systems more efficient. Indoor positioning through Versus’ RTLS enhances existing hospital software and patient care systems with real-time, reliable bed-level location information. The patented Versus IR and Active RFID patient and asset tracking system is exclusively endorsed by the American Hospital Association and is a key component of their Patient Flow Platform—which includes a select group of vendors that provide proven solutions to enhance patient flow and improve patient safety. (www.versustech.com; Pink Sheets: VSTI.PK)
Safe Harbor Provision
This document may contain forward-looking statements relating to future events, such as the development of new products, the commencement of production, or the future financial performance of the Company. These statements fall within the meaning of forward-looking information as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, economic, competitive, governmental, and technological factors affecting the Company’s markets and market growth rates, products and their rate of commercialization, services, prices and adequacy of financing, and other factors. The Company undertakes no obligation to update, amend, or clarify forward-looking statements, whether because of new information, future events, or otherwise.
Versus Technology, Inc.
Stephanie Bertschy, Director of Marketing
Versus Technology, Inc.
Joseph Winowiecki, Chief Financial Officer