Healthcare Industry News:  Laboratory Corporation of America 

Diagnostics

 News Release - September 14, 2006

IRIS Diagnostics Enters into Five-Year Agreement with LabCorp(R) For Automated Urine Microscopy

CHATSWORTH, Calif.--(HSMN NewsFeed)--Sept. 14, 2006--IRIS INTERNATIONAL, INC. (NASDAQ: IRIS ), a manufacturer and marketer of automated IVD urinalysis systems and medical devices used in hospitals and clinical reference laboratories worldwide, announced today that its Iris Diagnostics Division has entered into a five-year agreement to supply and service automated urine microscopy technology for Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH ). In connection with this agreement, the Company also announced that LabCorp has ordered 26 iQ®200 SPRINT(TM) Urine Microscopy Analyzers.

LabCorp, the nation's second largest clinical reference laboratory with $3.3 billion in sales in 2005, operates a nationwide network of 36 primary testing locations and more than 1,300 patient service centers. Under the agreement, Iris Diagnostics will also provide training, installation, service, and related reagents and consumables.

"We are delighted to be selected by LabCorp, one of the nation's premier diagnostic laboratories, as a supplier of its automated urine microscopy needs for its high volume facilities," stated IRIS President and Chief Executive Officer Cesar Garcia. "As stated in our second quarter earnings call, we had a number of multi-site, multi-unit deals in the pipeline and we are pleased to have completed our five-year agreement with LabCorp."

Iris Diagnostics Division President Dino Alfano said, "After a comprehensive evaluation process, LabCorp chose our flagship iQ200 SPRINT platform, with a throughput of 101 tests per hour and enhanced software that includes digital imaging and Auto-Particle Recognition (APR(TM)), which classifies urine particles into 12 categories and quantitatively reports results. Its walk away convenience in a bench-top system significantly reduces processing time and labor, adding significant value while increasing productivity. We look forward to partnering with LabCorp on this important urinalysis initiative and providing our innovative solution."

ABOUT IRIS

IRIS International, Inc. (www.proiris.com), based in Chatsworth, Calif., is a leader in automated urinalysis technology with systems in major medical institutions throughout the world. The Company's Sample Processing business unit (formerly the StatSpin® subsidiary), based in Westwood, Mass., manufactures innovative centrifuges and blood analysis products. Advanced Digital Imaging Research, LLC (ADIR), based near Houston, Texas, is the Company's imaging research and development subsidiary. The IRIS Molecular Diagnostics (IMD) Subsidiary develops innovative ultra-sensitive diagnostics and sample processing products with applications in the urinalysis, oncology and infectious disease markets.

SAFE HARBOR PROVISION

This news release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future financial performance, market growth, capital requirements, new product introductions and acquisitions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," "plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: identification of feasible new product initiatives, management of R&D efforts and the resulting successful development of new products and product platforms; acceptance by customers of the Company's products; integration of acquired businesses; substantial expansion of international sales; reliance on key suppliers; the potential need for changes in long-term strategy in response to future developments; future advances in diagnostic testing methods and procedures; potential changes in government regulations and healthcare policies, both of which could adversely affect the economics of the diagnostic testing procedures automated by the Company's products; rapid technological change in the microelectronics and software industries; and competitive factors, including pricing pressures and the introduction by others of new products with similar or better functionality than our products. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Source: IRIS International

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