CHATSWORTH, Calif., Feb. 25, 2010 (GLOBE NEWSWIRE) -- IRIS International Inc. (Nasdaq:IRIS), a leading manufacturer of urinalysis systems and consumables for use in hospitals and commercial laboratories worldwide, announced today that it has entered into a first-time three-year sales and service supply agreement with HealthTrust Purchasing Group, LP (HealthTrust), a leading national group purchasing organization (GPO).
Under the terms of the agreement, which will be effective March 1, 2010, HealthTrust will supply the full line of IRIS's automated instrumentation, including the iQ®200 SPRINT, ELITE and SELECT series of Automated Urine Microscopy Analyzers and urinalysis workstations, and all related consumables and service agreements.
"We are delighted to establish a comprehensive sales and service agreement with one of the nation's largest GPOs," stated Cesar Garcia, Chairman, President and CEO of IRIS. This new GPO agreement opens a new sales channel, which provides us concurrent access to more than 1,400 acute care hospitals and non-acute care facilities in the HealthTrust network. This latest agreement brings to seven the number of GPOs now marketing our urinalysis product lines, providing coverage to more than 90% of hospitals nationwide. We look forward to developing a close working relationship with HealthTrust to ensure the best possible delivery of IRIS products and services to its customers and patients," Mr. Garcia added.
About HealthTrust Purchasing Group
HealthTrust Purchasing Group, headquartered in Brentwood, Tenn., is a group purchasing organization which supports nearly 1,400 not-for-profit and for-profit acute care facilities, as well as ambulatory surgery centers, physician practices, and alternate care sites. With an annual purchasing volume by its members of more than $17 billion, HealthTrust is committed to obtaining the best price for clinically-recommended products, ensuring their timely delivery and continuously evaluating and improving its services to the patients, physicians and clinicians it serves. The Web site is www.healthtrustpg.com.
About IRIS International, Inc.
IRIS International is a leading global in vitro diagnostics company focused on products that analyze particles and living cell forms and structures, or morphology of a variety of body fluids. The Company's products leverage its strengths in flow imaging technology, particle recognition and automation to bring efficiency to hospital and commercial laboratories. The initial applications for its technology have been in the urinalysis market and the Company is the leading worldwide provider of automated urine microscopy and chemistry systems, with an installed base of more than 2,400 systems in more than 50 countries. The Company is expanding its core imaging and morphology expertise into related markets and is developing applications in hematology and urinary tract infections. In addition, the Company is developing molecular diagnostic tests based on its Nucleic Acid Detection Immunoassay, or NADiA®, platform, with applications in oncology and infectious disease. For more information visit www.proiris.com.
SAFE HARBOR PROVISION
This press release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future financial performance, market growth, capital requirements, regulatory developments, new product introductions and acquisitions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," ,"plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: identification of feasible new product initiatives, management of R&D efforts and the resulting successful development of new products and product platforms; obtaining regulatory approvals for new and enhanced products; acceptance by customers of the Company's products; integration of acquired businesses; substantial expansion of international sales; reliance on key suppliers; the potential need for changes in long-term strategy in response to future developments; future advances in diagnostic testing methods and procedures; potential changes in government regulations and healthcare policies, both of which could adversely affect the economics of the diagnostic testing procedures automated by the Company's products; rapid technological change in the microelectronics and software industries; and competitive factors, including pricing pressures and the introduction by others of new products with similar or better functionality than our products. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.