UNION CITY, Calif.,
Oct. 23, 2014 /PRNewswire/
-- Abaxis, Inc. (NasdaqGS: ABAX), a medical products company
manufacturing point-of-care instruments and consumables for the
medical, research, and veterinary markets worldwide and providing
reference lab services to the veterinary and research markets in
the United States, announced today
it has appointed Ross Taylor as Vice
President of Business Development and Investor Relations, effective
immediately. Mr. Taylor will be responsible for identifying and
developing potential business opportunities and strategic alliances
to help drive growth in both the veterinary and medical
businesses. Additionally, Mr. Taylor will oversee the
investor communications and marketing efforts.
Mr. Taylor joins Abaxis with more than 18 years of experience in
the investment and securities industries, as a securities analyst
covering the healthcare sector. Prior to joining Abaxis, Mr. Taylor
most recently served as Senior Vice President, Equity Research
Analyst at CL King & Associates, from 2005 to 2014, covering
Healthcare Equipment and Supplies companies with a focus on the
animal health and dental sectors. Mr. Taylor holds an A.B. degree
in Economics from Duke University and
an MBA from Columbia Business
School.
Clint Severson, President and
Chief Executive Officer of Abaxis, Inc., commented, "I am pleased
with the addition of Ross Taylor, as
he brings a specialized skill set that will help strengthen our
organization for continued success. Ross' extensive experience and
knowledge covering the healthcare and animal health industries over
the course of the last 18 years will be an asset to Abaxis. Our
goal is to continually build and strengthen the depth and breadth
of our management team allowing us to appropriately manage the
growth of Abaxis into the future."
About Abaxis
Abaxis develops, manufactures, markets
and sells portable blood analysis systems for use in any veterinary
or human patient-care setting to provide clinicians with rapid
blood constituent measurements. The system consists of a
compact, 5.1 kilogram (11.2 pounds), portable analyzer and a series
of single-use plastic discs, called reagent discs that contain all
the chemicals required to perform a panel of up to 13 tests on
veterinary patients and 14 tests on human patients. The
system can be operated with minimal training and performs multiple
routine tests on whole blood, serum or plasma samples. The
system provides test results in less than 12 minutes with the
precision and accuracy equivalent to a clinical laboratory
analyzer. The veterinary business also provides to the animal
health and research market a line of hematology instruments for
point-of-care complete blood counts (CBC), a specialty instrument
to screen for and detect clotting disorders and to measure equine
fibrinogen levels, a handheld instrument for the rapid assessment
of certain critical care tests and rapid point-of-care tests for
Heartworm infections, Parvovirus, Giardia, Ehrlichia and Lyme
disease. Abaxis, through its AVRL division, provides routine
laboratory testing as well as specialty testing for veterinarians
nationwide.
This press release includes statements that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Reform Act"),
including but not limited to statements related to Abaxis' cash
position, financial resources and potential for future growth,
market acceptance and penetration of new or planned product
offerings, and future recurring revenues and results of
operations. Abaxis claims the protection of the safe-harbor
for forward-looking statements contained in the Reform Act.
These forward-looking statements are often characterized by the
terms "may," "believes," "projects," "expects," "anticipates," or
words of similar import, and do not reflect historical facts.
Specific forward-looking statements contained in this press release
may be affected by risks and uncertainties, including, but not
limited to, those related to risks related to the transition of its
U.S. medical sales to Abbott, potential excess inventory levels and
inventory imbalances at the company's distributors, losses or
system failures with respect to Abaxis' facilities or manufacturing
operations, fluctuations in quarterly operating results, dependence
on sole suppliers, the market acceptance of Abaxis' products and
services, the continuing development of its products, required
United States Food and Drug Administration clearance and other
government approvals, risks associated with manufacturing and
distributing its products on a commercial scale free of defects,
risks related to the introduction of new instruments manufactured
by third parties, risks associated with competing in the human
diagnostic market, risks related to the protection of Abaxis'
intellectual property or claims of infringement of intellectual
property asserted by third parties and risks related to condition
of the United States
economy. Readers should also refer to the section entitled
"Risk Factors" in Abaxis' annual report on Form 10-K, recent
quarterly reports on Form 10-Q and Abaxis' other periodic reports
filed with the United States Securities and Exchange
Commission. Forward-looking statements speak only as of the
date the statements were made. Abaxis does not undertake and
specifically disclaims any obligation to update any forward-looking
statements.
Contact:
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Abaxis,
Inc.
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Lytham Partners,
LLC
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Clint
Severson
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Joe Dorame, Robert
Blum and Joe Diaz
|
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Chief Executive
Officer
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602-889-9700
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510-675-6500
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SOURCE Abaxis, Inc.