Healthcare Industry News: Abaxis
News Release - July 3, 2007
Abaxis Announces Distribution Agreement With McKesson Medical-Surgical
Piccolo xpress(TM) chemistry analyzer and medical reagent discs to be available for distribution from McKesson Medical-SurgicalUNION CITY, Calif., July 3 (HSMN NewsFeed) -- Abaxis, Inc. (Nasdaq: ABAX ), a medical products company manufacturing point-of-care blood analysis systems, announced today that it has entered into a distribution agreement with McKesson Medical-Surgical to sell and distribute the Piccolo xpress blood chemistry analyzer and medical reagent discs.
Clint Severson, chairman and chief executive officer of Abaxis commented, "We are pleased to have McKesson as a partner to assist us in making the Piccolo xpress more widely available to healthcare providers. This relationship is another important step in expanding our product reach to new customers throughout the US. We are gratified to have completed agreements with the top four medical distributors in the industry."
Chris Bernard, vice president, sales and marketing stated, "The partnership with McKesson will assist Abaxis with not only increased geographical market coverage, but also with expanded physician office relationships. We look forward to working closely with the McKesson sales team."
About McKesson Corporation
McKesson Corporation, currently ranked 18th on the FORTUNE 500, is a healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes and improving the quality and safety of patient care. Over the course of its 174-year history, McKesson has grown to provide pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare and payors; hospital and retail pharmacy automation; and services for manufacturers and payors designed to improve outcomes for patients. For more information, visit us at http://www.mckesson.com.
About Abaxis
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, 6.9 kilogram (15 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 14 minutes with the precision and accuracy equivalent to a clinical laboratory analyzer.
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"). 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", or "anticipates", and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to, risks and uncertainties related to fluctuations in the Company's share price, the market acceptance of the Company's products and the continuing development of its products, required United States Food and Drug Administration ("FDA") 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 entering the human diagnostic market on a larger scale, risks related to the protection of the Company's intellectual property or claims of infringement of intellectual property asserted by third parties, risks involved in carrying of inventory, risks associated with the ability to attract, train and retain competent sales personnel, general market conditions, competition 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.
Source: Abaxis
Issuer of this News Release is solely responsible for its
content.
Please address inquiries directly to the issuing company.
