| CONTACTS: |
César García, President and Chief Executive Officer |
|
818-709-1244 x 7123
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Or
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Ron Stabiner, The Wall Street Group, Inc. |
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212-888-4848 |
CHATSWORTH, Calif., July 24, 2006
— IRIS International, Inc. (NASDAQ: IRIS)
a manufacturer and marketer of automated IVD urinalysis systems and medical devices used in hospitals and clinical reference laboratories worldwide, today announced
that it will launch a comprehensive product line expansion, including enhanced versions for its family of flagship iQ®200 Analyzers and Systems, at
the American Association of Clinical Chemistry (AACC) Annual Meeting and Clinical Lab Expo in Chicago, which is scheduled to take place July 23 through July 27.
"This is part of a comprehensive initiative to expand our product offerings to better address the needs of all market segments,
from small hospitals to high volume commercial reference laboratories. We now can offer a complete line of products designed to meet the operational and workload
needs of three distinct market segments -- small, medium and high-volume users," stated IRIS President and Chief Executive Officer César García.
"Our new products include the iQ®200 SELECT™ System, the iQ®200 ELITE™ System, a
next generation model which will replace the current iQ®200 System, and the enhanced iQ®200 SPRINT™ System," García said.
"All three products will be driven by our new Software Version 5.0, which implements many improvements identified by Iris in collaboration with customers and
opinion leaders around the world. Our new iQ200 SELECT System enables automation at sites with lower test volumes and significant capital constraints, but that can
afford the operational expenses of our line of consumables. We have been successful in re-structuring our product offerings to create a family of products at three
different price points without sacrificing the clinical utility of our iQ200 Microscopy Analyzer and the value of urine chemistry and microscopy integration: 'The
Complete Urinalysis.' We believe this is the most extensive and most competitive urinalysis product offering available in the world," García added.
IRIS also announced that it will officially launch its new iChem™100 Urine Chemistry Analyzer and its vChem™ urine
chemistry test strip lines which represents the Company's entry into the global urine chemistry market at the AACC Expo. The AACC's five-day annual meeting
opened on Sunday, July 23, and it is coupled with the three-day exposition starting Tuesday, July 25. IRIS' products will be on display at Booth No. 1651 at the
McCormick Place Convention Center, 2301 S. Lake Shore Drive in Chicago. Admission is limited to AACC members, exhibitors or registered guests.
"The iChem100, a semi-automated benchtop instrument designed for small volume hospital laboratories, outpatient clinics and
large physician's offices, represents a significant milestone for IRIS in that it rounds out the Company's product offerings," stated Dino Alfano,
President of the Company's Iris Diagnostics Division. "The iChem100 enables IRIS to enter the $350 million global urine chemistry market in a most
noteworthy manner."
"We are launching our new product lines with intensive sales campaigns through the Company's U.S. and international sales
channels," Alfano added. "We also are creating a vehicle to accelerate iChem100 and test strip sales internationally by connecting the instrument to the
new iQ200 SELECT Urine Microscopy Analyzer, which addresses the smaller bed size hospitals. This creates a complete urinalysis system for smaller hospitals and
reference laboratories internationally. Domestically, the Arkray AUTION JET AJ-4270 will be connected to the iQ200 SELECT and sold through our direct sales
force."
The expanded family of iQ200 Systems, which provides the Company 10 different urinalysis products, will be available globally by the
end of the third quarter of 2006.
| • |
The new iQ200 SELECT Urine Microscopy Analyzer has a throughput of 40 tests per hour and is designed to serve smaller
hospitals and commercial laboratories. The fully automated iQ200 SELECT Analyzer can be electronically connected to the iChem™100
semi-automated urine chemistry analyzer or the Arkray AUTION JET™ AJ-4270 semi-automated urine chemistry analyzer only, to form
the new iQ200 SELECT Urinalysis System. In the U.S., the iQ200 SELECT will be sold through Iris' direct sales force with the AJ-4270
semi-automated analyzer manufactured by Arkray, Inc. |
| • |
The new and faster iQ200 ELITE Analyzer, which will replace the current iQ200 Urine Microscopy Analyzer, has a throughput of 70 tests
per hour and is designed to serve medium-sized hospitals. The iQ200 ELITE can be physically and electronically connected to the Arkray AUTION MAX™
AX-4280 Automated Urine Chemistry Analyzer to form the new iQ200 ELITE Urinalysis System. |
| • |
An upgraded iQ200 SPRINT Analyzer with a throughput of 101 tests per hour will continue to serve the high volume hospital market and
commercial lab segments. It can be physically and electronically connected to the Arkray AX-4280 Automated Urine Chemistry Analyzer to form the iQ200
SPRINT Urinalysis System. |
| • |
A new software version 5.0 will drive all iQ200 models and contains more than 60 significant improvements in ease of use and clinical
utility. In addition, it will now support 9 languages including Chinese, Turkish, and Greek to better serve those growing markets. |
| • |
A new touch-screen monitor for the iQ200 ELITE and SPRINT Analyzers improves customer ease of use. |
"The expanded family of IRIS products enables Iris Diagnostics to better serve the total available market of approximately 6500
sites globally," Mr. García said. "We expect to accelerate the adoption of our technology resulting in incremental consumables and service sales, for
both microscopy and chemistry urinalysis."
The Company
IRIS International, Inc. (http://www.proiris.com), based in Chatsworth, Calif.,
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. Advanced Digital Imaging Research, LLC (ADIR) (www.adires.com),
based near Houston, Texas, is the Company's imaging research and development subsidiary. The IRIS Molecular Diagnostics (IMD) Subsidiary develops innovative
ultra-sensitive diagnostics and sample processing products with applications in the urinalysis, oncology and infectious disease markets.
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.