IVAX Diagnostics Enters into Distribution Agreement with LABSCO

IVAX Diagnostics, Inc. (NYSE Amex:IVD), a fully integrated in vitro diagnostics company, announced that Diamedix Corporation, IVAX Diagnostics’ wholly-owned subsidiary located in Miami, Florida, has signed a three-year agreement with Laboratory Supply Company (LABSCO), the largest privately held supplier of diagnostic instrumentation and clinical laboratory products to hospitals, physician office laboratories, reference labs and other non-acute care settings in the United States. The agreement provides for LABSCO to act as a distributor in the United States for Diamedix’s suite of instrumentation systems and test kits, which includes the Mago® 4S automated ELISA and IFA instrumentation system that received 510(k) clearance from the U.S. Food and Drug Administration earlier this year, as well as over 200 assays that can be run on the Mago® 4S. The products will be marketed under the Diamedix brand name.

Kevin Clark, Chief Executive Officer, Chief Operating Officer and President of IVAX Diagnostics, said, “We expect this distribution agreement with LABSCO to dramatically expand our market reach into the 3,900 hospitals in the U.S. with less than 150 beds, which is a market segment on which we have not previously focused with our existing sales force. We intend for our direct sales team to continue targeting the more than 2,100 hospitals with more than 150 beds. Our decision to engage LABSCO on a nationwide basis under this distribution agreement is another step toward one of our strategic goals directed at increasing our presence in the U.S. In reviewing LABSCO’s strong commitment of resources to us, we are excited to have them working with us as a national distributor of Diamedix’s suite of instrumentation systems and test kits. We are pleased to be working with LABSCO to provide high quality tests to the marketplace.”

About IVAX Diagnostics, Inc.

IVAX Diagnostics, Inc. (www.ivaxdiagnostics.com), headquartered in Miami, Florida, is a fully integrated in vitro diagnostics company that develops, manufactures and distributes in the United States and internationally, proprietary diagnostic reagents, test kits and instrumentation, primarily for autoimmune and infectious diseases, through its three subsidiaries: Diamedix Corporation (U.S.), Delta Biologicals S.r.l. (Europe), and ImmunoVision, Inc. (U.S.).

Safe Harbor Statement

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the business and prospects of IVAX Diagnostics, Inc., including, without limitation: the risks and uncertainties associated with Diamedix’s agreement with LABSCO, including, without limitation, that anticipated levels of sales may not be achieved under the agreement, that the agreement may not be able to expand IVAX Diagnostics’ market reach or penetration, that the agreement may not assist IVAX Diagnostics in its goal of expanding its presence and market reach in the U.S., and that the agreement may not provide IVAX Diagnostics with, or otherwise allow IVAX Diagnostics to achieve, its intended results, whether business, financial or otherwise; and other risks and uncertainties that may cause results to differ materially from those set forth in the forward-looking statements. In addition to the risks and uncertainties set forth above, investors should consider the economic, competitive, governmental, technological and other risks and uncertainties discussed in IVAX Diagnostics’ filings with the Securities and Exchange Commission, including, without limitation, the risks and uncertainties discussed under the heading “Risk Factors” in such filings.

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