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Abaxis Announces Exclusive Distribution Agreement with Abbott
Date:10/31/2012

UNION CITY, Calif., Oct. 31, 2012 /PRNewswire/ -- Abaxis, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today announced the Company has signed an exclusive multi-year distribution agreement with Abbott's Point of Care business to market and distribute the Piccolo Xpress®, a portable clinical chemistry system and its full line of one-time use reagent discs to the human medical market.

Under terms of the agreement, Abbott will have the exclusive right to distribute and sell in the U.S. and China (including Hong Kong) Abaxis' Piccolo Xpress chemistry analyzer and associated consumables in the professionally attended human healthcare market. Abaxis will retain the distribution rights to current customer, Catapult Health and certain segments including pharmacy and retail store clinics, shopping malls, contract research organizations (CROs), and cruise ship lines. Abaxis will provide technical support and warranty services to support Abbott's commercial efforts.

Clint Severson, chairman and chief executive officer of Abaxis, said, "We are extremely pleased to have formed a strategic partnership with Abbott to sell and distribute our Piccolo Xpress instruments and our reagents discs. This agreement with Abbott dramatically expands our reach across the broad spectrum of healthcare institutions and medical practitioners throughout the U.S. and provides the opportunity to enter the China market.  We believe this agreement validates the technology of our innovative products to produce lab-accurate comprehensive test results in minutes, reduce medical expenses and improve patient outcomes. We expect that this partnership will allow us to grow our medical sales, and look forward to a successful collaboration with Abbott in the years to come."

In light of this distribution agreement, Abaxis will reorganize its North American medical sales and marketing organization. Mr. Brenton Hanlon, for
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SOURCE Abaxis, Inc.
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