ABAXIS inks three agreements with international distributors.SUNNYVALE, Calif.--(HealthWire)--Aug. 1, 1995--ABAXIS Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABAX ABAX Abaxial ), a medical products company, Tuesday announced that it has signed agreements with three international distributors to market the company's two portable blood analysis systems: the VetScan system and the Piccolo piccolo, small transverse flute pitched an octave higher than the standard flute. Its tone is bright and shrill, and it can produce the highest notes in the orchestral range. The piccolo is used in orchestras and especially in military bands. See fife. system. The agreements were signed with Servotec Instruments AG, Interlaken, Switzerland; Marcus Medical, Cape Town Cape Town or Capetown, city (1991 pop. 854,616), legislative capital of South Africa and capital of Western Cape, a port on the Atlantic Ocean. It was the capital of Cape Province before that province's subdivision in 1994. , South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. ; and Line Analytics, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. . Servotec has already introduced the VetScan system in Switzerland, while the other two distributors have indicated to ABAXIS they will soon introduce the VetScan system to the veterinary market in their respective countries. All three distributors intend to introduce the Piccolo Portable Blood Analyzer to the human health-care market when it becomes available later this year. Under the terms of the agreements, each of the distributors receives exclusive marketing rights in their respective countries for a three-year period. Exclusivity is contingent on Adj. 1. contingent on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent upon, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent meeting defined minimum purchase requirements. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Gary Stroy, president and chief executive officer of ABAXIS, the company's marketing strategy is to pursue similar agreements with select distributors worldwide. "We are extremely pleased to have generated such interest and support from these three key distributors," Stroy commented. "Each company provides us with unique access to, knowledge of and opportunities in their respective countries. "We look forward to long and prosperous relationships with our new partners," he continued. "We have initiated additional discussions with other international distributors and anticipate that these negotiations will result in agreements that will enable us to further broaden our international presence." In June 1994, ABAXIS established a three-year agreement with Vedco Inc. to distribute its VetScan system in the United States. The company intends to add additional domestic VetScan distributors where appropriate and sell directly in certain regions that lack distributor coverage. In July 1995, ABAXIS signed a letter of intent with Baxter Healthcare Corp. to grant Baxter distribution rights for the Piccolo System in the United States. The company expects to finalize the distribution agreement with Baxter in the near future. ABAXIS currently is evaluating additional opportunities for distribution of its Piccolo System in the United States. Founded in 1989, 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, 6.9-kilogram, portable analyzer and a series of 8-cm.-diameter single-use plastic disks, called reagent rotors, that contain all the reagents necessary to perform a fixed menu of tests. The system can be operated with minimal training and perform multiple routine tests on whole blood using either venous or fingerstick samples. The system provides test results in less than 14 minutes with the precision and accuracy equivalent to a clinical laboratory. CONTACT: ABAXIS Inc., Sunnyvale Gary H. Stroy, 408/745-6854 or Pondel Parsons & Wilkinson, Los Angeles Rob Whetstone whetstone, natural or manufactured stone used as an abrasive solid to sharpen tools. It is used dry, with water, or with oil. Such a stone of the finer grade used with oil is usually called an oilstone. , 310/207-9300 |
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