ATLANTA, July 25, 2011 (GLOBE NEWSWIRE) -- IRIS International, Inc. (Nasdaq:IRIS), a leading manufacturer of automated in-vitro diagnostics systems and consumables, and a provider of high value personalized diagnostics testing services through its CLIA certified molecular diagnostics laboratory, announced today that its Iris Diagnostics Division at the AACC 2011 Clinical lab and Expo in Atlanta, has introduced the iRICELL®1500, the first fully automated urine testing solution to address the specific needs of laboratories performing fewer that 70 urine tests per day.
"The introduction of the iRICELL1500 represents a significant extension of our core urinalysis business, which will allow us to further penetrate the U.S. market by addressing the needs of smaller laboratories, an important market segment representing more than 2,000 laboratories, which had been previously underserved," stated César García, Chairman and CEO of IRIS International.
"The iRICELL 1500 Workcell integrates the iCHEM®VELOCITY™ automated chemistry analyzer with the iQ®200 SELECT™ automated microscopy analyzer, providing a fully automated system for managing the workload of urine microscopy and urine chemistry testing, delivering customer benefits of enhanced laboratory productivity and quality, as well as standardization of urine testing results, while lowering laboratory operating costs," said Thomas Warekois, President of the Iris Diagnostics Division.
"The iRICELL1500 is compatible with our iWARE™ Expert System, an integrated software product that further enhances lab productivity by enabling real-time patient validation based on lab-defined verification rules for urine chemistry and microscopy results. Both systems will deliver significant workflow enhancements and productivity to the laboratory," he added.
"Together, these significant new product enhancements will solidify and further strengthen our market leadership position in the automated urinalysis business where we currently have more than 3,100 systems installed worldwide, each generating high margin recurring consumables and service revenue," said Mr. Warekois.
About IRIS International, Inc.
IRIS International, Inc. 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 3,100 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 body fluids. In addition, the Company recently acquired a high complexity CLIA-certified molecular pathology laboratory offering differentiated, high value molecular diagnostic services in the rapidly growing field of personalized medicine. The laboratory provides a direct commercial channel for the Company's NADiA® ultra-sensitive nucleic acid detection immunoassay platform, with applications in oncology and infectious disease. For more information, please 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.
CONTACT: Cesar M. Garcia Chairman and Chief Executive Officer IRIS International, Inc. 818-527-7000 -or- Ron Stabiner, The Wall Street Group, Inc. 212-888-4848