A computer chip that is implanted under the skin won US approval yesterday for use in helping doctors quickly access a patient`s medical history.
The VeriChip, sold by Applied Digital Solutions, is placed in the upper arm in a painless procedure that takes minutes, the company said.
Shares of Applied Digital jumped 68% to $3.57 on the Nasdaq.
About the size of a grain of rice, the chip contains a patient`s identification number that corresponds to health information in a computer database.
A handheld scanner can retrieve the patient`s number from the chip, which emits radio waves when activated.
Proponents hope doctors will use the technology to find vital information about someone who is unconscious or having trouble communicating. The database could include details such as medication use, allergies and major health problems.
The chip implants have been used for years for various purposes such as identifying lost pets. But Applied Digital was not allowed to market the chips for medical use in the US until the company received clearance from the Food and Drug Administration (FDA) yesterday.
The FDA ruled in 2002 that it would not regulate financial, security or other uses of the chips.
Privacy advocates have voiced worry about the speedy transfer of sensitive medical information via computer. Applied Digital said the data would be kept secure.
Shares of Digital Angel, which licenses the VeriChip technology to Applied Digital, rose nearly 29% to $3.49 on the American Stock Exchange.
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