| CONTACTS: |
César García,
Chairman and Chief Executive Officer |
|
818-709-1244
|
|
-or-
|
|
Ron Stabiner, The Wall Street Group, Inc. |
|
212-888-4848 |
CHATSWORTH, CA, July 16, 2008 - IRIS INTERNATIONAL, INC. (NASDAQ: IRIS),
a leading manufacturer of automated in-vitro diagnostics systems and consumables for use in hospitals and commercial laboratories worldwide, today announced that its Mideast distributor,
Bader Sultan & Bros. Co., has received an order from the Kuwait Ministry of Health for seven iQ®200 ELITE Automated Urine Microscopy Analyzers.
"This initial order covers more than 85% of the Ministry of Health hospital laboratories in Kuwait and we congratulate Bader Sultan for this
important accomplishment," said César García, Chairman and Chief Executive Officer of IRIS International. "We are pleased with the selection by the Ministry of Health
of the IRIS iQ®200 as the system of choice as it moves to automate urine microscopy at its laboratories throughout Kuwait, further positioning IRIS as the global leader
and the standard in automated urinalysis," Mr. García added.
Bader Sultan & Bros. Co. is one of the leading medical companies in Kuwait specializing in the healthcare and pharmaceutical business with an active
presence in the Kuwait market since 1960. The Company has a wide share of the Kuwait medical market and has achieved annual sales in excess of $100 million.
The iQ®200 uses Auto-Particle Recognition (APR™), a well-trained neural network, to classify and quantitate twelve formed elements
with true image morphology and walkaway capability, providing the highest level of diagnostic accuracy and workflow efficiency. The results can be auto-reported based on user-defined
criteria and the images captured may be viewed on demand at the workstation monitor, dramatically reducing the need for manual microscopy and improving laboratory productivity.
ABOUT IRIS INTERNATIONAL
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. Our products leverage our strengths in flow imaging technology, particle recognition and automation to bring efficiency to hospital and commercial laboratories. The initial
applications for our technology have been in the urinalysis market and we are the leading worldwide provider of urine microscopy systems, with an installed based of more than 1,800
systems in over 50 countries.
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.
