Thursday January 28, 6:01 am Eastern Time
Company Press Release
Hemagen Diagnostics, Inc. Signs Marketing Agreement With Carter-Wallace and Renews OEM Contract
Carter-Wallace's Wampole Laboratories Division to Receive Exclusive U.S. Sales and Marketing Rights to Analyst(R) Clinical Chemistry System in Physician and Hospital Laboratory Markets.
WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 28, 1999-- Hemagen Diagnostics, Inc. (NASDAQ: HMGN, HMGNW; BSE: HGN) a developer, manufacturer and marketer of proprietary medical diagnostic test kits, today announced that it has signed a marketing agreement with the Wampole Laboratories division of Carter-Wallace (NYSE: CAR - news) that provides Wampole with exclusive sales and marketing rights in the United States to Hemagen's Analyst® Clinical Chemistry System for the physician and hospital laboratory market. Financial terms of the agreement were not disclosed.
Hemagen will continue to market its Analyst® system in the physician office laboratory market outside of the United States as well as in the veterinary office laboratory market in the United States and internationally.
Hemagen also reported that Carter-Wallace has renewed its OEM agreement with the company for five years to supply a variety of medical diagnostic test kits.
''We are pleased to extend the successful relationship we have enjoyed with Carter-Wallace over the years,'' stated Dr. Carl Franzblau, Hemagen's chairman, president and chief executive officer. ''Carter-Wallace is a respected leader in diagnostic specialties with a strong presence within the physician office laboratory market. The company is ideally positioned to market the Analyst® in the United States and provide our customers with continued high-quality service.''
''We also look forward to continue supplying diagnostic kits to Carter-Wallace through our renewed OEM agreement. These two agreements validate the strong market potential we believe exists for our Analyst® system, as well as our diagnostic test products.'' concluded Franzblau.
Hemagen's Analyst® system consists of a bench-top instrument ideal for physician's offices, small clinical laboratories, and veterinary offices. The system uses a rotor-based technology that is currently capable of producing results of up to 14 different clinical chemistry tests in under 10 minutes time. The company plans to engage in an active development program to increase the product offerings available for the Analyst® system in both the human and veterinary markets. A rotor specific for the veterinary market, the Vet 16, is currently being tested at beta sites and is expected to be available for sale at the beginning of April.
Hemagen Diagnostics, Inc. develops, manufactures and markets more than 135 FDA-cleared proprietary medical diagnostic test kits used to aid in the diagnosis of autoimmune and infectious diseases and to measure important constituents in human blood. The company focuses on markets which offer significant growth opportunities.
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties which are described in the company's Securities and Exchange Commission reports and filings.
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Contact:
Hemagen Diagnostics, Inc.
William Franzblau, 781/890-3766
Chief Financial Officer
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