ACTON and FRAMINGHAM, Mass., Feb. 28, 2013 /PRNewswire/ -- Psychemedics Corporation, (NASDAQ: PMD) and TruTouch Technologies, Inc. today announced that they have signed an agreement to market TruTouch's rapid optical alcohol detection and biometric test in the US. The workplace sobriety assurance solution utilizes an optical based, non-invasive near infra red sensor that quickly and accurately measures alcohol consumption. This is simply done by placing the index finger on the optical sensor and waiting as few as 10 seconds for the initial results.
Raymond C. Kubacki, Chairman & CEO of Psychemedics Corporation stated:
"We are pleased to partner with TruTouch Technologies to address the important workplace challenge caused by the use of alcohol. TruTouch Technologies is the logical partner as they have clearly demonstrated the quality and effectiveness of their product in addressing the issue of alcohol in the workplace. We see this as an important addition to our patented drugs of abuse hair test – now offering our clients and prospects the highest quality services to address the major challenges of both drugs and alcohol in the workplace."TruTouch's technology combines state-of-the-art alcohol testing with an integral biometric identity verification capability. The alcohol measurement is performed by transmitting light into the skin via contact with an optical touch pad. The collected light is analyzed to determine the tissue alcohol concentration. This new and novel approach to alcohol testing costs a fraction of the price of breath or blood alcohol testing and allows for self administered programs. The TruTouch technology offers organizations the opportunity to create a true alcohol deterrence program versus present day random screening initiatives. Psychemedics will exclusively distribute the TruTouch solutions to targeted organizations within the United States. Dr Richard Gill, President & CEO of TruTouch Technologies stated: "Psychemedics is the clear industry leader in testing for drugs of abuse using hair. Their technological leadership is clearly established with their patented hair test for drugs of abuse -- and their market leadership is established by serving over 10% of the Fortune 500 from a wide-variety and cross-section of businesses as the world's largest provider of drug testing using hair analysis. This partnership will allow us to bring our solution quickly and effectively into the many businesses that have to face the challenges and repercussions of alcohol use and consumption in their business operations."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts