Bayer's Acquisition of Chiron Diagnostics Good News for Cardiovascular Diagnostics.

RALEIGH, N.C.--(BW HealthWire)--Sept. 21, 1998--Commenting on the September 17, 1998 announcement by the Bayer Group and Chiron Corporation (NASDAQ: CHIR) that the two companies have signed a definitive purchase agreement under which Chiron will sell its in vitro diagnostics subsidiary, Chiron Diagnostics Corporation, to Bayer, John Funkhouser, president and CEO of Cardiovascular Diagnostics, Inc. (NASDAQ: CVDI), called the deal "good news for Cardiovascular Diagnostics."

"This acquisition holds great opportunity for expanding sales of our diagnostic products by significantly strengthening the global distribution agreement we recently signed with Chiron Diagnostics," said Mr. Funkhouser. "The choice of Bayer, a world leader in diagnostics, enables our products to be offered to customers not only as a part of a critical care product portfolio, but also as part of an integrated solution to the central lab. In addition, Bayer's strength in the physician office and self-test markets may provide us with the opportunity to expand beyond the hospital market, providing a continuum of rapid monitoring for therapeutics effecting coagulation."

Mr. Funkhouser added that Bayer was fully knowledgeable and supportive of the Chiron Diagnostics investment in Cardiovascular Diagnostics. "We believe that Cardiovascular Diagnostics' Thrombolytic Assessment System (TAS) technology will augment Bayer's plans to provide innovative rapid diagnostic platforms and information systems for point-of-care settings."

On August 31, 1998, Cardiovascular Diagnostics and Chiron Diagnostics announced the signing of a global distribution agreement for certain Cardiovascular Diagnostics coagulation tests. As part of the agreement, Chiron agreed to purchase $6 million of Cardiovascular Diagnostics common stock at $10 per share. At the time, Mr. Funkhouser stated, "Cardiovascular Diagnostics' coagulation products are complementary to Chiron's leading market position in blood gas analysis, as well as to its strategy to bring new total solutions to the point of care."

Cardiovascular Diagnostics, Inc. develops, manufactures and markets rapid turnaround diagnostics to assess blood clot formation and dissolution. The Company develops tests based on its proprietary, dry chemistry TAS for its principal target market of powerful new therapeutics, some of which have narrow ranges between over- and under-dosage, as well as for monitoring routine anticoagulants. The Company's therapeutic diagnostics are used in the treatment of angina, myocardial infarction (heart attack), stroke, deep venous thrombosis, and pulmonary and arterial emboli. This press release contains forward-looking statements regarding future events and the future performance of Cardiovascular Diagnostics, Chiron Diagnostics and the Bayer Group that involve risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's SEC filings, including Form 10-K, Form 10-Q and Form 8-K reports.