SOURCE: CyberKey

May 11, 2005 09:50 ET

CyberKey Corporation Initiates Medical Division

ST. GEORGE, UT -- (MARKET WIRE) -- May 11, 2005 -- CyberKey® Corporation (OTC: CYKC) announces today that it has organized to focus its marketing efforts by industry. The company's initial industry division is the Medical Division. The company will refer to the medical division as the MedKey™ division in all future public communications.

The MedKey™ division will sell and support CyberKey devices for specialized medical applications. The company seeks to make inroads into the medical imaging segment of the industry. The CyberKey proprietary 18 digit encoding protocol enables the CyberKey device to remain virtually unreadable if lost or stolen. The device offers security and anonymity for patients and medical providers in the transportation of medical records and images. CyberKey's newly formed MedKey™ division intends to exploit the unique and proprietary features that differentiate the CyberKey product line from the commodity flash memory product and other, less secure, storage alternatives.

The MedKey™ division will also be charged with marketing the company's proprietary secure prescription system. Beta tested in local pharmacies, the yet unnamed CyberKey proprietary system utilizes the CyberKey USB flash storage device to securely coordinate the transmittal of prescription information from medical provider to pharmacy. The encrypted CyberKey serves as a means of identification between the patient and doctor and then again between patient and pharmacy. Insurance information and potential conflicts between drugs can be identified immediately as the CyberKey product authorizes limited access to each service provider in the pharmaceutical transaction.

Transaction security is further enhanced by patient identification, including a picture or patient specific biometric information, securely encrypted on the CyberKey. If a CyberKey should be lost or stolen, the embedded 18 digit code makes it possible for CyberKey Corp. to 'lock' the device thereby rendering it unable to complete a transaction. Usage tracking, as currently practiced by credit card issuers, will flag unusual activity. Service providers will be required to verify that the Key holder is the patient identified by the information stored on the CyberKey. The potential savings to medical insurance providers in reducing fraud and theft of medical services makes the prescription system virtually costless to an insurer. Additionally, the use of the CyberKey product within the pharmacy prescription system offers to nearly eliminate incorrect prescriptions due to transcription errors while preserving as much patient privacy as possible.

The MedKey™ division has already begun its marketing efforts. The new industry focus is designed to permit the company to respond to customer inquiries and RFP's in a focused and rapid fashion.

ABOUT CYBERKEY:

CyberKey Corporation, based in St. George, Utah, partners with industry leading manufacturers and distributors to deliver secure USB flash based solutions to vertical markets and content owners, service providers and resellers. CyberKey's solutions solve real world issues in the entertainment, education, government, military, automotive, financial services and medical industries. CyberKey's technology allows users to securely transfer large amounts of data, files and application software from one electronic device to another while employing a patented USB based Digital Rights Management process. CyberKey's solutions create new opportunities for existing industries and applications.

For more information, please visit CyberKey's website at www.cyberkeycorp.com.

Statements contained in this news release, other than those identifying historical facts, constitute 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

Contact Information

  • CONTACT:
    Jim Plant
    President/CEO
    CyberKey Corporation
    435-688-9666 Phone
    435-652-2143 Fax
    corp@cyberkeycorp.com