UNION CITY, Calif.,
Oct. 3, 2011 /PRNewswire/ -- Abaxis,
Inc. (NasdaqGS: ABAX), a medical products company manufacturing
point-of-care blood analysis systems, announced today that Abaxis
Veterinary Reference Laboratories, (AVRL), based in Olathe, Kansas, and in partnership with
Kansas State University, is fully
operational and is accepting and processing samples nationwide.
With the addition of AVRL, Abaxis now offers veterinarians
nationwide a highly competitive full-service commercial laboratory
with a focus on specialty and esoteric testing and analysis which
today cannot typically be conducted at the point-of-care. This
service complements Abaxis provision of a full suite of on-site
laboratory instrumentation and rapid diagnostics for in hospital
routine, critical care and emergency medicine laboratory needs.
AVRL offers comprehensive, reliable, accurate and competitively
priced specialty testing and routine laboratory services, along
with extensive consultation and case management services from
experts across many disciplines, both through its partnership at
Kansas State University and a network
of veterinary professionals and consultants nationwide.
Clint Severson, chairman and
chief executive officer of Abaxis, commented, "The investment in
AVRL, with our first facility in the Kansas City area fully operational on a
nationwide scale today, is a testament to the forward thinking
individuals and competencies of this whole organization. We will
continue to invest in the expansion of AVRL and other opportunistic
ventures, expanding our footprint in the animal health industry in
North America and worldwide."
Martin Mulroy, Abaxis' corporate
vice president of sales and marketing for North American Animal
Health added, "Over two years in the making, I am pleased to report
AVRL performed flawlessly in our September test market program and
all systems are operational. The development of a new business
takes a highly dedicated and focused group of seasoned
professionals. It was an expansive team contributing to the
successful build of this new business for Abaxis; from our
executives in Olathe, Kansas led
by Mark Patterson, AVRL Division
president, and the Abaxis corporate team led by Michael Solomon, director of business
development for North American Animal Health. I would also like to
thank our partners at Kansas State
University, Dean Ralph
Richardson and all the individuals there that made this a
reality."
About Abaxis
Abaxis develops, manufactures, markets and sells 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 animal health and research market a
line of hematology instruments for point-of-care complete blood
counts (CBC), a specialty instrument to screen for and detect
clotting disorders and to measure equine fibrinogen levels, a
handheld instrument for the rapid assessment of certain critical
care tests and rapid point-of-care tests for Heartworm infections
in dogs, Parvovirus and Giardia. Abaxis, through its AVRL
Division, provides routine laboratory testing as well as specialty
testing for veterinarians' nationwide. This state-of-the-art
commercial laboratory will be the hub of the Abaxis Veterinary
Reference Laboratories (AVRL).
This press release includes statements that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Reform Act"),
including but not limited to statements related to Abaxis' cash
position, financial resources and potential for future growth,
market acceptance and penetration of new or planned product
offerings, and future recurring revenues and results of operations.
Abaxis claims the protection of the safe-harbor for
forward-looking statements contained in the Reform Act. These
forward-looking statements are often characterized by the terms
"may," "believes," "projects," "expects," "anticipates," or words
of similar import, and do not reflect historical facts.
Specific forward-looking statements contained in this press
release or in Abaxis' conference call may be affected by risks and
uncertainties, including, but not limited to, those related to
losses or system failures with respect to Abaxis' facilities or
manufacturing operations, fluctuations in quarterly operating
results, dependence on sole suppliers, the market acceptance of
Abaxis' products and the continuing development of its products,
required United States Food and Drug Administration clearance and
other government approvals, risks associated with manufacturing and
distributing its products on a commercial scale free of defects,
risks related to the introduction of new instruments manufactured
by third parties, risks associated with competing in the human
diagnostic market, risks related to the protection of Abaxis'
intellectual property or claims of infringement of intellectual
property asserted by third parties, risks related to condition of
the United States economy and
other risks detailed under "Risk Factors" in Abaxis' Annual Report
on Form 10-K for the fiscal year ended March
31, 2011 and Abaxis' other periodic reports filed from time
to time with the United States Securities and Exchange Commission.
Forward-looking statements speak only as of the date the
statements were made. Abaxis does not undertake and
specifically disclaims any obligation to update any forward-looking
statements.
Contact:
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Clint Severson
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Lytham Partners, LLC
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Chief Executive
Officer
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Joe Dorame, Robert Blum and Joe
Diaz
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Abaxis, Inc.
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602-889-9700
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510-675-6500
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SOURCE Abaxis, Inc.