SpaceCode Introduces New Smart Cupboard
Geneva, Switzerland — September 20, 2006
SpaceCode, a leading provider of item level RFID solutions, today announced the availability of a new line of RFID smartcupboard readers developed in cooperation with MEDIREPORT, a leading European medical software company. Based on SpaceCode’s core RFID technology, the RFID enabled smartcupboards for the first time offer the Healthcare and Pharmaceutical industry an unprecedented level of read accuracy performance in asset tracking of RFID tagged medical devices despite the presence of high metal and/or liquid contents, and storage of multiple items in close proximity.
The patented RFID smartcupboard system combines superior IC chip design, advanced deterministic algorithm, and optimal selection and harnessing of radio wave physics. The functionality ensures immediate identification and recognition of products removed for use, and sends this information in real time to either hospital systems or supplier systems (or both). This allows instantaneous stock control for the hospital, as well as instantaneous billing by the supplier. Furthermore, the information on products used is linked to patient, procedure, location, and staff members involved.
The smartcupboards are uniquely able to completely identify items in close proximity, multiple orientations, comprising/in the vicinity of substantial amounts of metal, liquid and organic material. Up to 250 items can be identified within 6 seconds. The solution thus enables the complete automation of critical supply chain functions including inventory management, de-stocking, re-stocking and invoicing of stock.
“The launch of the SpaceCode RFID smartcupboard enables tremendous efficiencies in the healthcare and pharmaceutical supply chain, once again demonstrating our commitment and ability to deliver tangible efficiencies for our customers” said Paul Davis, CEO of SPACECODE. “Customers, by their own calculations, have demonstrated astonishing financial gains as evidenced by ROI’s in excess of 300% and payback of less than 1 year. There are not many solutions that can deliver such returns.’
About SPACECODE: SPACECODE, a vertically integrated provider of complete end to end RFID systems, is a European based globally focused specialist RFID company providing hardware, software, and deployment services. Through its ability to provide technical solutions that achieve guaranteed 100% identification and reading accuracy in all environments, the technology provides reliability where other solutions and technologies cannot. The differentiation includes the scalability of the system and the unique ability to attain essential operating parameters including 100% reliability, accuracy and authentication. The solution delivers outstanding performance in challenging environments including where metal and/or organic materials (liquid, drugs, food) are present, where heterogeneous and multi item identification is required, and where items are in close proximity and multiple orientations. Focusing on these key unmet market needs has ensured that the company occupies a clear gap in its focus and related industries including Healthcare and Pharmaceutical, FMCG, Retail Supply Chain & Logistics, Luxury Goods, and Counterfeiting. SpaceCode customers include marquee corporations in these industries where the cutting edge solution provides breakthrough innovations that allow companies to generate clear advantage over their competitors. The world-class management team has associations and deep knowledge of its focus markets, providing comprehensive solutions customized to clients’ individual requirements. SpaceCode together with its growing network of international partners and customers, is engineering the future of RFID.