UNION CITY, Calif., Oct. 30 /PRNewswire-FirstCall/ -- Abaxis, Inc. (Nasdaq: ABAX) a medical and veterinary manufacturer of point-of-care blood analysis systems, announced today that Central Scientific Commerce, Inc., (CSC) has signed an exclusive distribution agreement to distribute the complete line of Abaxis medical and veterinary products in Japan. With offices in Tokyo, Osaka, Fukuoka and Sapporo, CSC is one of the leading medical and veterinary products distributors in the Japanese market. CSC is a subsidiary of GSI Creos Corporation, established in 1931 and headquartered in Tokyo, Japan with a total of twenty-seven subsidiaries and nine associated companies.
Mr. Clint Severson, chairman and chief executive officer of Abaxis, Inc. commented, "We are pleased to be working with Central Scientific Commerce to embed our leading-edge point-of-care products in the Japanese healthcare market. We have great respect for their professionalism and the solid reputation that they have built over the years in their markets. We firmly believe that this collaboration will result in expanded market share in the years to come and the recognition of Abaxis as a trusted partner in the healthcare system of Japan."
Mr. Aritaka Kasnayama, managing director of Central Scientific Commerce, Inc., said, "We are delighted to be working with Abaxis to develop the market in Japan. We believe that Abaxis technology can result in more timely patient diagnosis and treatment regimes leading to improved patient outcomes and quality of life. We think that the appropriate healthcare providers in Japan will adopt this technology and work hard to bring these benefits to their patients. We look forward to working with Abaxis for many years to come."
Dr. Vladimir Ostoich, Abaxis' vice president of marketing for the Pacific Rim, said, "Our distribution arrangement with CSC will be more direct to the end user healthcare provider than the traditional four-tier distribution process utilized in Japan by western companies. We believe this will represent a significant competitive advantage for Abaxis and will help us to make inroads into this critical market."
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
|SOURCE Abaxis, Inc.|
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