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IRIS plans acquisition of Davstar urinalysis product line.

CHATSWORTH, Calif.--(BUSINESS WIRE)--Feb. 20, 1996--International Remote Imaging Systems Inc. (IRIS)(ASE:IRI) Tuesday announced that it has signed a letter of intent to acquire the Davstar urinalysis line of products made by UroHealth Systems Inc.

This product line includes the Cen-Slide 1500 system for centrifugal urine sedimentation and manual microscopic examination and the FlowStar closed urine specimen collection and dispensing cup. These products will become part of an expanding IRIS product line of disposable urinalysis products, intended to be sold by its newly acquired StatSpin Technologies subsidiary.

StatSpin Technologies, based in Norwood, Mass., is a manufacturer of special-purpose centrifuges and other small instruments widely used in clinical, veterinary, physicians office and research laboratories. StatSpin distributes its products primarily through the Curtin Matheson Scientific Division of Fisher Scientific, which also has been distributing the Cen-Slide and FlowStar devices.

According to Dr. Fred Deindoerfer, chairman and president of IRIS: "The Davstar products promise a strategic fit with the StatSpin product portfolio and distribution channels. This is another step towards the IRIS goal of bringing cost-effective, quality-improving urinalysis products into smaller laboratories."

IRIS purchased the Biovation urine specific gravity product line early last year as a first step in this direction and completed the StatSpin acquisition earlier this month.

IRIS, a Los Angeles-based company, is the leader in automated microscopic urinalysis with its major product, The Yellow IRIS urinalysis workstation, used in clinical laboratories in hospitals affiliated with more than 75 percent of U.S. medical schools and other leading hospitals nationwide. IRIS and its StatSpin subsidiary had combined revenues of more than $16 million in 1995.

CONTACT: International Remote Imaging Systems Inc., Chatsworth

Dr. Fred H. Deindoerfer, 818/709-1244
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Publication:Business Wire
Date:Feb 20, 1996
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