PositiveID, a developer of molecular diagnostic systems, has named William Caragol as the new chairman.

Since August 2011, Caragol served at PositiveID as chief executive officer (CEO) and as president since May 2007.

PositiveID chairman William Caragol said the company has a number of opportunities ahead such as marketing FDA cleared iglucose, the continued development of their non-invasive diabetes management products, and high-value opportunities within their subsidiary, MicroFluidic Systems, including a potential $3bn BioWatch procurement.

"The Board and executive management team will continue to focus on these opportunities to grow PositiveID and create meaningful revenue and deliver stockholder value," Caragol added.