Alaris Medical Announces Agreement With Luther Medical To Distribute Luther Medical Catheter Products in Europe.SAN DIEGO--(BUSINESS WIRE)--Aug. 14, 1997--ALARIS Medical 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 :ALRS ALRS Admiralty List of Radio Signals ALRS Alerting Service (aviation) ALRS Apache Leap Research Site ALRS Alternate Launch & Recovery Surface ALRS Automated Logistics Retrieval System ALRS Automatic Line Router Switch ) Thursday announced that it has entered into a distribution agreement with Luther Medical Products Inc. (NASDAQ: LUTH) to distribute the Luther Medical intravenous catheter system product line in the European Economic Community European Economic Community (EEC), organization established (1958) by a treaty signed in 1957 by Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany (now Germany); it was known informally as the Common Market. (ECC (1) (Error-Correcting Code) A type of memory that corrects errors on the fly. See ECC memory. (2) (Elliptic Curve Cryptography) A public key cryptography method that provides fast decryption and digital signature processing. ) countries of Europe and various other international markets. The two companies will be working together to obtain CE marking for Luther's products in 1998. ALARIS Medical President and Chief Executive Officer William J. Mercer said: "This agreement is in keeping with our vision of growing the business through a combination of internal R&D, in-licensing agreements and strategic acquisitions and alliances. It represents a strong 'win-win' for both companies, with Luther Medical benefiting from our strong global distribution channel, and ALARIS adding a complementary product line to its medical device portfolio. "We are pleased to work with a pioneer in the peripherally inserted catheter (PIC) arena, and look forward to providing this product to our large base of customers in the global marketplace," Mercer added. "This agreement allows Luther Medical to access markets which have been unavailable to us in the past," stated David Rollo, Luther Medical president and chief executive officer. "Our ability to tap into ALARIS Medical's highly skilled intravenous sales force in Europe should allow us good margins on those incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. sales and provide for improved manufacturing efficiencies resulting from increased volume through our factory. "Over time we can expect that the European market size for our types of devices may equal the U.S. market size and, with ALARIS as our partner, we could expect our market share in Europe eventually to equal or exceed that of the U.S.," Rollo noted. Previously known as Advanced Medical Inc., the company announced a name change to ALARIS Medical Inc. in May 1997. Its operating company operating company A business that engages in transactions with outsiders. , ALARIS Medical Systems Inc., is known for its IMED IMED International Medical Education Directory and IVAC IVAC Islington Voluntary Action Council (England, UK) IVAC Insert Valid Access Card (satellite TV hacking) IVAC International Video & Audio Convention IVAC Idle Air Control Valve brand names of intravenous infusion therapy systems. The company's principal line of business is the design, manufacture and marketing of intravenous infusion therapy products, periodic patient monitoring instruments and related disposables. ALARIS Medical's products are distributed to more than 120 countries worldwide. In addition to its San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. world headquarters and manufacturing facility, the company also operates manufacturing facilities in Creedmoor, N.C., and Basingstoke, Hampshire, U.K., and Tijuana, Mexico. Luther Medical Products is a designer and manufacturer of the broadest range of patented intravenous catheter systems in their respective markets. -0- This news release contains forward-looking statements which are based largely on ALARIS' expectations and are subject to a number of risks and uncertainties, certain of which are beyond the company's control. Actual results could vary materially from these expected results due to a variety of factors, including market demand for the company's products, future financial performance and the company's ability to achieve anticipated costs savings and to successfully integrate its operations in Mexico. Risk factors, including, without limitation, changes in the market and competition, and foreign operations are detailed in the Securities and Exchange Commission filings of Advanced Medical Inc., and ALARIS Medical Inc., particularly the Advanced Medical Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filing for the year ended December 31, 1996. CONTACT: Alaris Medical Inc., San Diego Barbara Burkett, 619/458-7038 or The Financial Relations Board, 310/442-0599 Stacy Roughan (general information) Moira Conlon (investor/analyst) Steven Seiler (media) |
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