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Press Releases ---------------------------------------------------------------- FOR IMMEDIATE RELEASE
IRIS APPOINTS THOMAS E. WAREKOIS AS PRESIDENT OF IRIS DIAGNOSTICS BUSINESS UNIT CHATSWORTH, Calif., Mar. 05, 2007 — IRIS International, Inc. (NASDAQ: IRIS) today announced the appointment of Thomas E. Warekois, a senior executive with extensive medical diagnostics marketing, business and product development experience, as Corporate Vice President and President of the Iris Diagnostics Business Unit. Mr. Warekois, who assumes his new position today, joins IRIS after a 27-year career with the Bayer HealthCare Diagnostics Division, based in Tarrytown, N.Y. His most recent position with Bayer Diagnostics was Senior Vice President of Global Strategic Marketing. Mr. Warekois will report directly to IRIS President and Chief Executive Officer César García. "We are pleased to welcome Tom Warekois as President of the Diagnostics Business Unit," stated Mr. García. "Tom and I worked together at Bayer for a number of years, and I have always been impressed with his business knowledge, creativity, marketing expertise and work ethic. Tom brings to IRIS a wealth of experience in global marketing, sales and long-range planning. Tom has also managed sizeable international business units with full profit and loss responsibility. He assumes the leadership of our Diagnostics Unit at a particularly exciting time, as sales of the iQ®200 are increasing, revenues from service and consumables are growing, and IRIS prepares to launch new products in urine chemistry and ultra-sensitive detection immuno-assays. Tom's strengths in sales and marketing, combined with his extensive and diversified experience in all segments of the in-vitro diagnostics business, make him the perfect choice to lead this core unit and to take it to the next level of achievement." During his tenure at Bayer Diagnostics, Mr. Warekois held numerous senior executive positions, most recently as Senior Vice President of Global Strategic Marketing at Bayer Diagnostics, where he was responsible for driving marketing initiatives, devising strategy, managing product lifecycles and improving marketing processes for a €1.5 billion global business. He also was responsible for the marketing inputs and implementation of a 10-year strategy and product portfolio plan for the Bayer Diagnostics Division that optimized the molecular, chemistry, immunoassay, automation, blood gas, urinalysis and hematology testing disciplines. Prior to this position, Mr. Warekois held several senior executive positions at Bayer Diagnostics, including Vice President of the Lab Testing Segment Marketing and General Manager of Bayer Diagnostics' operations in the Middle East, Eastern Europe and Africa. He previously served as Vice President of Hematology Marketing. "IRIS is a very attractive opportunity for many reasons," stated Mr. Warekois. "I am of course looking forward to working with César again and proud of being part of the senior management team at IRIS at a time when the Company is launching new product platforms and experiencing solid growth in its urinalysis product line. I am very impressed with the success to date, and with the broad product pipeline in development. I look forward to help create new business opportunities, defining next generation platforms and building upon the achievements to date." Mr. Warekois, 53, earned a bachelor's in biology from Hartwick College, Oneonta, N.Y. He has a master's in biochemistry from New York Medical College, Valhalla, N.Y., and a master's in business administration from Pace University's Lubin School of Business in New York. THE COMPANY IRIS International, Inc. (http://www.proiris.com), based in Chatsworth, Calif., is a leading developer, manufacturer, and marketer of medical devices, diagnostic systems and consumables. The Iris Diagnostics Division (www.irisdiagnostics.com) is a leader in automated urinalysis technology with systems in major medical institutions throughout the world. The Company's Sample Processing business unit (formerly the StatSpin® subsidiary) (www.statspin.com), based in Westwood, Mass., manufactures innovative centrifuges and blood analysis products. The Iris Molecular Diagnostics (IMD) Subsidiary, based in San Diego, Calif., develops innovative ultra-sensitive diagnostics and sample processing products with applications in the urinalysis, oncology and infectious disease markets. Advanced Digital Imaging Research, LLC (ADIR), based near Houston, Tex., is the Company's imaging research and development subsidiary. SAFE HARBOR PROVISION This news 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, 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; 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. |
