American Bio Medica Corporation Reports Sharply Increased Sales in Puerto Rico.HUDSON, N.Y.--(BUSINESS WIRE)--Sept. 1, 1998--American Bio Medica medica (māˑ·dē·k Corporation (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 :ABMC ABMC American Battle Monuments Commission ABMC Alexian Brothers Medical Center (Illinois) ABMC Aviation Battle Management Concept ABMC Arrowbear Music Camp (California) ) today announced that sales of its Rapid Drug Screen(TM) have increased more than 20-fold in Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. since the beginning of the year. The sales increase in the Commonwealth of Puerto Rico, a U.S. territory, occurred between January and July, 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. HB Distributors, American Bio Medica's distributor in Puerto Rico. The Rapid Drug Screen currently is being used at eight major hotels, with a total of approximately 12,000 employees, in Puerto Rico's privately-operated corrections facilities, and at rehabilitation centers and security companies. The on-site drug testing market in Puerto Rico opened up this year with the implementation in February of Law 59 and Law 78. Law 59 requires the establishment of drug testing programs in the security, transportation, pharmaceutical and health care industries and encourages drug testing in other companies. Law 78 requires drug testingin state agencies. The laws permit the use of on-site drug tests in lieu of laboratory tests. Evelyn Otero, President of HB distributors, said that the Rapid Drug Screen enjoys a cost advantage over other drug tests available in Puerto Rico. She said the Corrections Corporation of America Corrections Corporation of America (NYSE: CXW) (CCA) is a company that manages public prisons and other facilities[1], and has concessions for many others. The company had annual revenues in 2004 of $1.15 billion USD. , the private company that operates the prisons there, saves substantially on each of the thousands of Rapid Drug Screen tests it performs each year. "Our growth so far in Puerto Rico has been very encouraging, and our market penetration there is only beginning," commented Stan Cipkowski, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Bio Medica. "We look forward to developing a dominant market share in Puerto Rico and expanding our marketing in the region." HB Distributors, based in San Juan, markets diagnostic tests to hospitality, security, workplace and correctional markets in Puerto Rico, the Virgin Islands, the Dominican Republic and the Caribbean. American Bio Medica Corporation develops, manufactures, and markets rapid, low-cost, and easy-to-use diagnostic kits and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to substance abuse testing markets worldwide. In field tests conducted last year, ABMC's Rapid Drug Screen was proven to correlate 100% with the results produced by the screening test used as a standard in laboratories. (Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation: continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.)
CONTACT: American Bio Medica
Les Cohen, 800/996-7701
or
Media Relations
Joan Schuman Associates
Joan Schuman
or Jeff Muise, 914/338-2955
or
Investor Relations
OTC Communications
Geoffrey Eiten, 888/433-3077
fax: 781/444-6101
For further information, see
www.americanbiomedica.com and www.otcfn.com/abmc
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