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 TORONTO, Jan. 4 /PRNewswire/ -- Spectral Diagnostics Inc. (CDN: SPTR; NASDAQ: DIAGF), specialists in a systems approach to cardiac diagnostics, announced today it has entered into an agreement to acquire all of the shares and obligations of Primecare B.V. in exchange for common shares of Spectral. The value of the acquisition is approximately US$3.4 million and is expected to be completed during the next 30 days.
 Primecare, a Dutch company founded in 1989, has developed Membrane Plasma Separators. The Membrane Plasma Separators are based on a new and proprietary technology that instantly separates and delivers a precise quantity of plasma from capillary blood and also eliminates need for time-consuming centrifugation and pipetting.
 In making the announcement Douglas C. Ball, chairman and CEO, said, "In determining the origins of chest pain -- be it cardiac or non-cardiac and if cardiac, unstable angina from a myocardial infarction -- every diagnostic minute is critical. Primecare's proprietary technology and know-how, embodied in its Membrane Plasma Separation method, will assure that no time is wasted in deriving plasma from whole blood in Spectral's panel tests that are easy to use and require only 8 minutes total reaction time. In the area of cardiac diagnostics, Spectral had acquired exclusive licensing rights for the first generation of Membrane Plasma Separator beginning in September 1993. The acquisition of Primecare will ensure that its proprietary technology and know-how will compliment and strengthen Spectral's research and development irrespective of the present or subsequent generations of cardiac panel tests we're developing, the Membrane Plasma Separator will remain the first point of contact for the three drops of patient's blood."
 In addition, Mr. Ball noted, "Spectral also intends to market the Membrane Plasma Separators for non-cardiac applications to major diagnostic companies."
 Mr. Ball added, "We are pleased that Mr. J.J. Scharstuhl, founder of Primecare, will become a senior officer of Spectral and will continue in his scientific capacity at Primecare. Mr. Scharstuhl has extensive experience in the medical and diagnostic industries and we look forward to having him on board as part of the Spectral scientific and management team."
 The Membrane Plasma Separator works by retaining the cellular components of whole blood and permitting a defined amount of plasma to pass to a second membrane that collects the plasma for the actual test. The technology is both method and product patented in the United States, allowed in Canada and Europe, and pending in Japan.
 Spectral has developed a systems approach to cardiac diagnostics that includes its proprietary and patent allowed Cardiac Panel. Retrospective clinical trials evaluating Spectral's Cardiac Panel and other panel tests were performed at two leading Ontario teaching hospitals and results from these trials are under evaluation. Prospective clinical trials began in 1993 at five leading teaching hospitals located in the United States. The prospective clinical trials include the major Chest Pain Centres in North America and are focused on different aspects of cardiac chest pain. At least another 30 hospitals located in numerous industrialized countries have expressed an interest in conducting prospective clinical trials with the company.
 Spectral believes that the Cardiac Panel containing Myoglobin, Myosin Light Chain, CK-MB and Troponin-I will, for the first time, diagnose and distinguish, within several minutes, cardiac from non-cardiac chest pains and unstable angina from myocardial infarction. Spectral's Cardiac Panel, slightly larger than a credit card, is easy to use, requires only a few drops of whole blood. Patent applications have been filed in 17 countries and recently allowed in the United States. The Cardiac Panel and other panel tests, in combination with Spectral's library of cardiac proteins and antibodies, will complete the systems approach to cardiac diagnostics.
 Spectral's common shares are listed on the NASDAQ Exchange in the United States and the Canadian Dealing Network (CDN) in Canada. Spectral's trading symbols are DIAGF on the NASDAQ Exchange and SPTR on the CDN.
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 /CONTACT: Douglas C. Ball, chairman and CEO of Spectral Diagnostics, 416-626-3233, or Irving L. Straus, chairman of Straus Corporate Communications, 212-768-2477/

CO: Spectral Diagnostics Inc.; Primecare B.V. ST: Ontario IN: MTC SU: TNM

LG-TW -- NY022 -- 8858 01/04/94 11:17 EST
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Publication:PR Newswire
Date:Jan 4, 1994

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