Apogee was organized as a Delaware corporation in 1987, and initially operated through its wholly owned subsidiary, Apogee Acoustics Incorporated. Apogee Acoustics engineered, manufactured, and marketed high-end, patented ribbon loudspeaker systems for use in home audio and video entertainment systems. In October of 2005, the Company sold its audio business to SigmaTel, Inc., a consumer and computer IC company, and focused all of its resources on its MEMS/Nanotechnology business. In May of 2004, the Company acquired a portfolio of MEMS intellectual property, trade secrets and know-how from Standard MEMS, Inc. as part of its strategy to diversify its technology and customer base. Apogee Technology is developing proprietary intradermal drug delivery systems for vaccines and other pharmaceuticals that it intends to market to pharmaceutical and medical device companies. Company is also engaged in the development of proprietary sensor, based health monitoring systems for the elderly care and other markets that it intends to manufacture and market to individuals and health organizations. Company's two major business activities are organized under the Life Science Group and the Health Monitoring Group.markets.