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Biotech / Medical : ACMI - Accumed Inc. -- Ignore unavailable to you. Want to Upgrade?

To: John Posatiere who wrote (608)	12/4/1997 11:51:00 AM
From: joemjo	Read Replies (2) \| Respond to of 1894

To All, AccuMed Completes Corporate Consolidation PR Newswire - December 04, 1997 11:40 ACMI %HEA %MTC %RCN V%PRN P%PRN Anticipates Increased Efficiency and $2 Million Operating Expense Reductions CHICAGO, Dec. 4 /PRNewswire/ -- AccuMed International, Inc. (Nasdaq: ACMI) today announced the completion of the consolidation of the sales and support organization for its microbiology and cytopathology product lines. This results in the finalization of a $2 million cost savings program as the Company repositions itself for financial success and a leadership position in sales of integrated diagnostic imaging systems. All of AccuMed's field-based staff is completing a cross-training program in the sales and support of the Company's microbiology and cytopathology product lines. The Company's domestic and international direct sales representatives will market AccuMed's full line of products and services in conjunction with the direct sales personnel of its strategic distribution partners, Leica Microscopy and Systems GmbH and Fisher Scientific's Curtin Matheson Scientific Division. In addition, AccuMed customers now have immediate access to a full field support organization with staff strategically located throughout the United States and Europe. The Company has also established a dedicated national accounts group to focus on major hospitals and buying groups which will allow the Company to leverage current major accounts to allow for broader product offerings. The cost savings are a result of the consolidation of the sales and support organization, streamlining of administrative processes in both the US and UK operations, and elimination of R&D expenditures for completed microbiology research and development activities. The Company will achieve additional savings from the closing of its facility in Ann Arbor, Michigan and the outsourcing of some manufacturing to strategic partners. In a related matter, the Company announced the resignation of Michael D. Burke, Group President for Sales and Marketing. Mr. Burke is leaving the Company to pursue other opportunities, but he will continue to work with the sales organization to bring several contracts to closure. In discussing the new initiative, Peter P. Gombrich, CEO and Chairman, indicated a renewed company-wide commitment to building a dominant position specifically in the automated cytopathology marketplace. "We have been fighting to gain market awareness because we entered the field relatively late in the game with a different strategy from other image-based cytopathology companies. AccuMed has shown it has a unique cytopathology system with demonstrable cost-savings benefits to the laboratory." The Company has recently seen an increase in interest in its AcCell(TM) Cytopathology System following the recent report of significant productivity gains in Pap screening after the system was installed at Detroit Medical Center's DMC University Laboratories. Gombrich commented, "These results have created a tremendous awareness of the AcCell System in the marketplace, and AccuMed has proven that its products can give a laboratory the edge it needs to thrive in the cost-competitive Pap test screening business." The Company has also seen increased interest in its Sensititre(TM) microbiology product lines and has recently received several sizable orders. Gombrich explained, "The Sensititre system provides a very cost-effective solution for laboratories that require precision custom plates often used in clinical trials and special studies. This is a market niche that AccuMed will continue to pursue." AccuMed International, Inc., headquartered in Chicago, is a global advanced diagnostics and information solutions company. AccuMed is an emerging leader in integrated, technology-driven systems that accommodate the clinical laboratory's need to maintain quality while achieving more cost effective operation. The company manufactures and markets a full line of proprietary, FDA-cleared bacterial microbiology disposable tests and instruments, marketed under the Sensititre(TM), ESP(R) Culture System II, and alamarBlue(TM) trademarks, and integrated automated cytopathology systems marketed under the AcCell(TM) trademark. Except for the historical information contained herein, some of the matters discussed in this news release may be deemed "forward-looking statements" under federal securities laws that involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements depending on a number of factors, including, among other things, the ability to maintain long-term relationships with corporate partners, the ability to bring products to market through the regulatory approval process, uncertainty of future profitability, financing requirements, and other factors detailed in AccuMed's filings with the Securities and Exchange Commission. SOURCE AccuMed International, Inc. /CONTACT: Dana Winrow, M.D., Investor Relations of AccuMed International, 312-397-7455, fax, 312-642-3492, or e-mail, ir@accumed.com; or Philip Thomas of the P.L. Thomas Group, 312-906-8060/ /Web site: accumed.com. /Company News On-Call: prnewswire.com or fax, 800-758-5804, ext. 122638/ (ACMI)