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Biotech / Medical : ABAX --- lots of upside
ABAX 83.000.0%Aug 1 5:00 PM EST

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To: David Bogdanoff who wrote (485)3/17/1999 10:56:00 AM
From: burner  Read Replies (1) of 492
 
Wednesday March 17, 9:00 am Eastern Time
Company Press Release
SOURCE: ABAXIS, Inc.
ABAXIS Announces Availability of VetScan HMT Hematology Analyzer
SUNNYVALE, Calif., March 17 /PRNewswire/ -- ABAXIS, Inc. (Nasdaq: ABAX - news), a medical products company manufacturing point-of-care blood chemistry systems, announced today it has signed an OEM agreement with Melet Schloesing Laboratoires of France to provide a hematology analyzer, the VetScan® HMT. Melet will, in turn, distribute the Abaxis VetScan® chemistry analyzer in France. Shipments of the VetScan® HMT Analyzers are scheduled to commence as early as next quarter.

The addition of hematology to the VetScan® family of products, coupled with last week's launch of the Critical Care Profile, adding electrolyte testing capability, significantly expands Abaxis' ability to compete in the veterinary diagnostic market. With these new product offerings, VetScan® and VetScan® HMT can now provide testing solutions in nearly twice as many testing applications as before these two developments.

Clint Severson, Chairman and CEO of Abaxis, commented, ''We are very excited to enter into this agreement with Melet. We believe the hematology analyzer will allow Abaxis to offer its customers a complete laboratory package consisting of chemistry, electrolytes and now hematology.''

Founded in 1989, Abaxis develops, manufactures and markets portable blood chemistry analyzers for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 6.9 kilogram, portable analyzer and a series of 8 cm diameter single-use plastic disks, called reagent discs, that contain all the reagents necessary to perform a fixed menu of tests. The system can be operated with minimal training and perform multiple tests on whole blood using either venous or fingerstick samples. The system provides test results in less than 14 minutes with the precision and accuracy equivalent to a clinical laboratory.

SOURCE: ABAXIS, Inc.
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