UNION CITY, Calif., Oct. 30 Abaxis, Inc.(Nasdaq: ABAX) a medical and veterinary manufacturer of point-of-care bloodanalysis systems, announced today that Central Scientific Commerce, Inc.,(CSC) has signed an exclusive distribution agreement to distribute thecomplete line of Abaxis medical and veterinary products in Japan. With officesin Tokyo, Osaka, Fukuoka and Sapporo, CSC is one of the leading medical andveterinary products distributors in the Japanese market. CSC is a subsidiaryof GSI Creos Corporation, established in 1931 and headquartered in Tokyo,Japan with a total of twenty-seven subsidiaries and nine associated companies.
Mr. Clint Severson, chairman and chief executive officer of Abaxis, Inc.commented, "We are pleased to be working with Central Scientific Commerce toembed our leading-edge point-of-care products in the Japanese healthcaremarket. We have great respect for their professionalism and the solidreputation that they have built over the years in their markets. We firmlybelieve that this collaboration will result in expanded market share in theyears to come and the recognition of Abaxis as a trusted partner in thehealthcare system of Japan."
Mr. Aritaka Kasnayama, managing director of Central Scientific Commerce,Inc., said, "We are delighted to be working with Abaxis to develop the marketin Japan. We believe that Abaxis technology can result in more timely patientdiagnosis and treatment regimes leading to improved patient outcomes andquality of life. We think that the appropriate healthcare providers in Japanwill adopt this technology and work hard to bring these benefits to theirpatients. We look forward to working with Abaxis for many years to come."
Dr. Vladimir Ostoich, Abaxis' vice president of marketing for the PacificRim, said, "Our distribution arrangement with CSC will be more direct to theend user healthcare provider than the traditional four-tier distributionprocess utilized in Japan by western companies. We believe this will representa significant competitive advantage for Abaxis and will help us to makeinroads into this critical market."
About Abaxis, Inc.
Abaxis develops, manufactures and markets portable blood analysis systemsfor use in any patient-care setting to provide clinicians with rapid bloodconstituent measurements. The system consists of a compact, 5.1 kilogram,portable analyzer and a series of 8-cm diameter single-use plastic discs,called rotors or reagent discs that contain all the reagents necessary toperform a fixed menu of tests. The system can be operated with minimaltraining and perform multiple tests on whole blood, serum or plasma samples.The system provides test results in less than 12 minutes with the precisionand accuracy equivalent to a clinical laboratory.
This press release includes statements that constitute "forward-lookingstatements" within the meaning of the Private Securities Litigation Reform Actof 1995. ABAXIS claims the protection of the safe-harbor for forward-lookingstatements contained in the Reform Act. Specific forward-looking statementscontained in this press release include, but are not limited to, risks anduncertainties related to the market acceptance of the Company's products andthe continuing development of its products, risks associated withmanufacturing and distributing its products on a commercial scale, risksassociated with entering the human diagnostic market on a larger scale, risksinvolved in carrying of inventory, risks from unexpected problems or delays inthe Company's manufacturing facility, risks associated with the ability toattract and retain competent sales personnel, general market conditions,competition, risks and uncertainties related to its ability to raise capitalin order to fund its operations and other risks detailed from time to time inABAXIS' periodic reports filed with the United States Securities and ExchangeCommission.