NEWS!
News Article for AMER BIO MEDICA CORP (NASDAQ:ABMC)
American Bio Medica Newest "Player" in Portuguese
Pro Basketball League; Ready To Score Big In
Professional Sports With Patented Substance Abuse
Diagnostic Kits
MONDAY, MARCH 15, 1999 9:19 AM EST
- BusinessWire
HUDSON, N.Y. (March 15) BUSINESS WIRE -March 15,
1999--American Bio Medica Corp. (Nasdaq:ABMC) Monday announced
that its Portuguese distributor, GRIMEXTUR, LDA, has signed an
exclusive agreement with that country's professional basketball league,
Liga Dos Clubes De Basquetebol (LCB), to use ABMC's patented Rapid
Drug Screen(tm) kits for random on-site testing of its players.
"Until now, we have not targeted the professional sports marketplace,"
said American Bio Medica President and Chief Executive Officer Stan
Cipkowski. "However, this agreement with the Liga Dos Clubes De
Basquetebol gives us a foothold in a market segment with substantial
upside potential. When viewed on a worldwide basis, professional sports
represents a terrific opportunity for ABMC, and we hope to establish a
strong presence in this potentially lucrative market."
In order to form this relationship with LCB, a number of hurdles had to
be overcome, including tariff regulations, currency fluctuations and a
bias against any kind of drug testing, Cipkowski explained. "Had it not
been for the vision, determination and effort of our Portuguese
distributor, Herculano Anjos, we would have missed out on this exciting
opportunity to enter the professional sports market," he said.
Noting that ABMC's test kits were introduced in January to team
medical officials at the League's All-Star Game, Cipkowski said, "We
look forward to providing LCB's teams with safe, cost-efficient, accurate
and easy-to-use Rapid Drug Screen kits for their on-site
substance-abuse screening program." He added that GRIMEXTUR, LDA
will provide instruction on the proper use of the kits and assist the
teams in developing an effective screening program.
Cipkowski said that the teams will use ABMC's single-step, three panel
Rapid Drug Screen Test for methamphetamines, opiates and marijuana
and that all versions of the company's drug test cards provide positive
and negative results for each substance being screened. He added that
the test administrator does not need to add reagents, use a pipette to
transfer the urine sample, or mix, tilt or stir the mixture, which is
necessary with the majority of drug tests currently available.
American Bio Medica develops, manufactures and markets inexpensive,
accurate, on-site drugs of abuse diagnostic kits and support services
worldwide. The company's global distributors target the workplace,
clinical, rehabilitation, physicians, corrections and educational markets.
ABMC's Rapid Drug Screen is proven to correlate 100% with the
standard laboratory screening test.
Forward-looking statements in this release are made pursuant to the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that such forward-looking statements
involve risk and uncertainties, including without limitation, continued
acceptance of the company's products, increased levels of competition
for the company, new products and technological changes, the
company's dependence on third-party suppliers, intellectual property
rights, and other risks detailed from time to time in the Company's
periodic report filed with the Securities and Exchange Commission.
RJ/la* AE/la
CONTACT: American Bio Medica Corp., Hudson
Stan Cipkowski, 800/227-1243
or
Neil Berkman Associates, Los Angeles
Neil Berkman/John Hicks, 310/277-5162
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