ABAX Abaxis, Inc. (delisted)

UNION CITY, Calif., Oct. 29 /PRNewswire-FirstCall/ -- Abaxis, Inc. (NASDAQ:ABAX) a medical and veterinary manufacturer of point-of-care blood analysis systems, announced today the appointment of Mr. Donald P. Wood as Vice President of Operations, effective October 30, 2007. Mr. Wood will oversee manufacturing operations along all product lines for the Company. Mr. Clint Severson, chairman and chief executive officer of Abaxis, Inc. commented, "We look forward to having Don join Abaxis. With more than 30 years experience in executive management, quality manufacturing and cost reduction in the diagnostics industry, Don brings a comprehensive skill set that will be instrumental in helping to make Abaxis an even more efficient manufacturing operation. He has an excellent track record in all areas of manufacturing operations. His expertise will be of great value as we expand our market coverage and continue to progress on our goal of becoming one of the leading providers of point-of-care blood analysis systems." Prior to joining Abaxis, Mr. Wood most recently served as Vice President of Operations at Cholestech Corporation and previous to that was Vice President Bone Health with Quidel. He has also held various senior management positions with Serono Diagnostics, Inc., a manufacturer of moderately complex chemistry, hematology and immunology instruments and reagents. Mr. Wood holds a Bachelor of Science degree in Business Administration. About Abaxis, Inc. Abaxis develops, manufactures and markets portable blood analysis systems for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 5.1 kilogram, portable analyzer and a series of 8-cm diameter single-use plastic discs, called rotors or 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, serum or plasma samples. The system provides test results in less than 12 minutes with the precision and accuracy equivalent to a clinical laboratory. 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 of Lytham Partners LLC, +1-602-889-9700, all for Abaxis

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