ABAX Abaxis, Inc. (delisted)

UNION CITY, Calif., Sept. 17 /PRNewswire-FirstCall/ -- Abaxis, Inc. (NASDAQ:ABAX), a medical products company manufacturing point-of-care blood analysis systems for both the medical and veterinary markets, introduced today the VetScan HM5, a fully-automated 5-part differential cell counter specifically designed for veterinary applications. The VetScan HM5 provides a comprehensive 22-parameter complete blood count with cellular histograms in just minutes for cat, dog and horse, and offers a 3-part mode for seven other species. The versatile VetScan HM5 incorporates superior performance, ease of use, offers true database management and minimal maintenance making it an attractive alternative for veterinary clinics, research laboratories, and pharmaceutical/biotech companies either using a commercial lab or in house hematology instruments. Other advantages over competitive in house instruments include a 20% lower operating cost, a 50% smaller sample size and 40% faster time to results. "The VetScan HM5 provides veterinary practices the ability to arrive at more timely diagnoses and treatment plans that can improve patient outcomes and quality of life," said Larry Lem, Abaxis Hematology Product Manager. "With its well-documented accuracy, dependable reproducibility, ease of use and its significant cost savings as compared to the commercial lab, the VetScan HM5 will become an essential tool in improving the efficiency of veterinary practices across the globe. The new VetScan HM5 requires seconds of hands-on time to perform complete blood count (CBC) measurements on 10 available species. The operator enters the appropriate patient information, inserts a well-mixed blood sample and presses the "start" button. In just two minutes, test results and four cellular histograms will be displayed, permitting the veterinarian to complete a routine annual check-up, and/or make a timely diagnosis and devise an appropriate treatment plan. Martin Mulroy, Vice President Marketing and Sales for the Veterinary business added, "We have significantly ramped up both our field sales team and inside sales group in anticipation of this product release in order to better meet the expected demand. Abaxis now offers the marketplace a choice in hematology instruments, the VetScan HM2 and VetScan HM5, and is poised to compete on multiple levels. This product line extension will also allow for increased complete system placements, increasing demand and sales of the Abaxis VetScan VS2 chemistry, electrolytes and immunoassay system and the associated rotors." About Abaxis, Inc. Abaxis develops, manufactures and markets portable blood analysis systems for use in any veterinary or human patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 5.1 kilogram (11.2 pounds), portable analyzer and a series of single-use plastic discs, called reagent discs that contain all the chemicals required to perform a panel of up to 13 tests on veterinary patients and 14 tests on human patients. The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma samples. The system provides test results in less than 12 minutes with the precision and accuracy equivalent to a clinical laboratory analyzer. The veterinary business also provides to the veterinarian and research market now a line of hematology instruments for point of care complete blood counts (CBC). This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Abaxis claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. Specific forward-looking statements contained in this press release include, but are not limited to, risks and uncertainties related to the market acceptance of the Company's products and the continuing development of its products, risks associated with manufacturing and distributing its products on a commercial scale, risks associated with entering the human diagnostic market on a larger scale, risks involved in carrying of inventory, risks from unexpected problems or delays in the Company's manufacturing facility, risks associated with the ability to attract and retain competent sales personnel, general market conditions, competition, risks and uncertainties related to its ability to raise capital in order to fund its operations and other risks detailed from time to time in Abaxis' periodic reports filed with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made. Abaxis does not undertake and specifically disclaims any obligation to update any forward-looking statements. Contact: Clint Severson Lytham Partners, LLC Chief Executive Officer Joe Dorame, Robert Blum and Joe Diaz Abaxis, Inc. 602-889-9700 510-675-6500 DATASOURCE: Abaxis, Inc. CONTACT: Clint Severson, Chief Executive Officer of Abaxis, Inc., +1-510-675-6500; or Joe Dorame, Robert Blum and Joe Diaz, all of Lytham Partners, LLC, +1-602-889-9700 Web site:

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