BIO-key(R) International, Inc. Awarded Over $1M in Orders From Leading Healthcare Technology Providers & Blood Centers

Mon Jan 28, 2013 8:00am EST

* Reuters is not responsible for the content in this press release.

  WALL, NJ, Jan 28 (Marketwire) -- 
BIO-key International, Inc. (OTCBB: BKYI), a global leader in fingerprint
biometric identification solutions and advanced mobile identification
technology, today reported that the Company received orders in excess of
$1 million from healthcare and blood center customers in the fourth
quarter of 2012. Orders for new business included expanded services and
technologies for several hospitals, reaching agreements with two blood
centers to install BIO-key's TruDonor ID and sales developed through
growing OEM relationships. 

    "In 2012 we made a significant investment to enhance our position in the
healthcare market, a market that will remain strong with the mandated
electronic health records initiatives and incentives," said Mike
DePasquale, BIO-key CEO. "Healthcare has natural drivers for our
technology; such as the need for physicians to offer a second factor of
authentication when processing ePrescriptions. Fingerprint biometrics has
been approved by the DEA and every state Board of Pharmacy as an accepted
form of two-factor authentication. The National Institute for Standards
and Technology (NIST), which sets the standards for DEA compliance,
recently tested and rated finger biometric software and BIO-key achieved
top scores for speed and accuracy positioning us as the leader in
compliance and convenience for healthcare organizations." 

    Today, BIO-key technology is utilized by thousands of hospitals
nationwide to access electronic health records, process ePrescriptions
and to provide secure access to drug cabinets. Additionally, in the
fourth quarter 2012, BIO-key reached an agreement to provide TruDonor ID
to its sixth blood center customer, expanding the Company's footprint to
include over 2 million licensed donor enrollments. Delivering donor ID
solutions for blood centers is the precursor to providing hospitals and
healthcare practices with compliant and secure Patient ID solutions as
they seek to meet their "Meaningful Use" requirements.

    BIO-key healthcare customers future proof their authentication process
using our patented, universally interoperable technology that is quickly
becoming a mandatory requirement for innovative healthcare providers. The
entire healthcare industry is migrating to electronic health records and
eventually offering patients open access to their individual health
records. BIO-key intends on continuing to provide secure authentication
solutions to enable this type of progress. Equally with the introduction
of dozens of new Smartphone's and tablets, interoperability will allow
customers to access applications on any device from one single
enrollment. 

    "BIO-key ended 2012 with measurable momentum as our sales model is
starting to resonate; a reason we have positive expectations for the
future," said DePasquale. "In December, we planned on hosting an investor
update call, but with several customer projects and strategic initiatives
pending we elected to offer today's announcement and schedule a formal
call in February to review strategic initiatives as well as the year-end
financial results."

    About BIO-key
 BIO-key International, Inc., headquartered in Wall, New
Jersey, develops and delivers advanced identification solutions to
commercial and government enterprises, integrators, and custom
application developers. BIO-key's award winning, high performance,
scalable, cost-effective and easy-to-deploy biometric finger
identification technology accurately identifies and authenticates users
of wireless and enterprise applications. Our solutions are used in local
embedded OEM products as well as some of the world's largest
identification deployments to improve security, guarantee identity, and
help reduce identity theft. BIO-key's technology is offered directly or
by market leading partners around the world. (http://www.bio-key.com)

    BIO-key Safe Harbor Statement
 Certain statements contained in this press
release may be construed as "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995 (the "Act"). The
words "estimate," "project," "intends," "expects," "anticipates,"
"believes" and similar expressions are intended to identify
forward-looking statements. Such forward-looking statements are made
based on management's beliefs, as well as assumptions made by, and
information currently available to, management pursuant to the
"safe-harbor" provisions of the Act. These statements are subject to
certain risks and uncertainties that may cause actual results to differ
materially from those projected on the basis of these statements. These
risks and uncertainties include, without limitation, our history of
losses and limited revenue, our ability to develop new products and
evolve existing ones, the impact on our business of the recent financial
crisis in the global capital markets and negative global economic trends,
our ability to attract and retain key personnel. For a more complete
description of these and other risk factors that may affect the future
performance of BIO-key International, Inc., see "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December 31, 2011
and its other filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date made. The
Company also undertakes no obligation to disclose any revision to these
forward-looking statements to reflect events or circumstances after the
date made or to reflect the occurrence of unanticipated events. 

    

Contacts: 
BIO-key International, Inc.
Scott Mahnken
732-359-1113 

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