News Alert - ReACT Launch & Sales Update
Tuesday October 5, 8:01 am Eastern Time
Immucor Announces ReACT Launch in North America, Sales Force Realignment
NORCROSS, Ga., Oct. 5 /PRNewswire/ -- Immucor, Inc. (Nasdaq: BLUD -
news), a leading manufacturer and marketer of blood bank serology reagents and
automated systems, announced today the North American launch of ReACT, a
new technology for antibody screening and identification. ReACT reduces the
number of manual steps required to complete the antibody screening process
when compared with the current test tube method.
''ReACT is a tremendous addition to our product offering,'' said Edward L. Gallup,
president of Immucor. ''This innovative, immunoreactive micro-bead technology is
a perfect alternative for small to medium hospitals that do not have the ability to
fully automate their process, or for large hospitals outside of North America that
cannot make the financial commitment to automated instrumentation.''
Immucor acquired the ReACT technology in its acquisition of Gamma Biologicals
Inc. in October of 1998. Since acquiring this new technology, Immucor has made
significant enhancements to the product in preparation for full market launch.
''Certain markets already have experienced outstanding early results with
ReACT, particularly in Latin America,'' Gallup continued. ''For example, during
the past two quarters, we have placed over 50 ReACT systems in Mexico and
expect to have 100 systems in place by the end of this calendar year.''
''We recently launched ReACT in Europe, where there is a very large market for
this technology. We expect this product to reach its full potential when the
process is automated on the ABS Precis (Rosys Plato) in the third quarter of
this fiscal year,'' Gallup said. ''Once this assay is automated, Immucor will be
the only company in the world offering transfusion service customers a family of
automated systems capable of running multiple assay technologies.''
Along with the new product launch in North America, Immucor has created
specialists within its sales force to focus on the unique technical requirements of
selling ReACT. The company at the same time is maintaining its capital sales
force to continue focusing on instrument sales.
''This realigned sales force will allow one group to maintain focus on instrument
sales while the other manages our traditional reagent business and concentrates
on the launch of ReACT,'' Gallup explained. ''Our traditional reagent business
currently represents over 90% of our sales and requires ongoing support as we
transition our customer base to automation. While our current placement rate of
instrument systems is on track, our strong financial performance and solid base
of reference accounts have created the opportunity to accelerate our placement
rate by expanding our focus. Our results to date allow us to immediately add
new instrument sales representatives, and we will continue to expand this group
of capital specialists as profits permit.''
Founded in 1982, Immucor manufactures and sells a complete line of reagents
and systems used by hospitals, reference laboratories and donor centers to
detect and identify certain properties of the cell and serum components of blood
prior to transfusion. Immucor markets a complete family of automated
instrumentation for all of our market segments.
For more information on Immucor, please visit the Company's website at
immucor.com .
This press release may contain forward-looking statements as that term is
defined in the Private Securities Reform Act of 1995, including, without limitation,
statements concerning the Company's expectations, beliefs, intentions or
strategies regarding the future. In particular, statements concerning accelerated
instrument placements are forward-looking statements and it is not certain this
will occur. All forward-looking statements included in this document are based on
information available to the Company on the date hereof, and the Company
assumes no obligation to update any such forward-looking statements. Further
risks are detailed in the Company's filings with the Securities and Exchange
Commission, including those set forth in the Company's most recent Form 10-K
and Quarterly Reports on Form 10-Q. |
