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LEECO DIAGNOSTICS TRANSFERS RIA PRODUCT LINE ASSETS TO BINAX

 LEECO DIAGNOSTICS TRANSFERS RIA PRODUCT LINE ASSETS TO BINAX
 SOUTHFIELD, Mich., March 4 /PRNewswire/ -- Leeco Diagnostics, Inc. (NASDAQ: LECO) announces that it has sold its RIA (radioimmunoassay) product line to Binax, Inc., a privately held medical diagnostics company based in South Portland, Maine. This transaction will strengthen the product line and customer base, since Binax has complementary products and technology. Leeco will receive from Binax a share of the revenue from monthly sales of these products.
 Leeco is a diagnostic immunobiology company focused on rapid detection of diseases and medical conditions such as infection, pregnancy, immune system dysfunction and hormone imbalance. Leeco products are sold worldwide to physicians' offices, clinical laboratories, hospitals, research institutes and OTC markets. Leeco is 53 percent owned by Recordati, a public company quoted on the Milan stock exchange and one of the major Italian independent pharmaceutical groups.
 -0- 3/4/92
 /CONTACT: Rod N. Raynovich president and CEO of Leeco Diagnostics, 313-353-2620/
 (LECO) CO: Leeco Diagnostics Inc.; Binax Inc. ST: Michigan, Maine IN: MTC SU: TNM


SM-KW -- NY034 -- 4872 03/04/92 10:32 EST
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Publication:PR Newswire
Date:Mar 4, 1992
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