SUNNYVALE, Calif., May 18, 2011 /PRNewswire/ -- Cepheid
(NASDAQ: CPHD) today announced it has entered into an agreement
with LABSCO (www.labsco.com), the largest privately held
distributor of clinical products in the
United States, to become its US distribution partner for
Cepheid's GeneXpert® Systems and tests. The agreement grants LABSCO
exclusive US distribution rights to the acute care hospital market
for institutions with less than 150 beds. The agreement does not
presently include the higher throughput GeneXpert Infinity
System.
"There are more than 3900 US hospitals with less than 150 beds
which have not been a primary focus of Cepheid to date. The
decision to engage on a nationwide basis with LABSCO is in line
with one of our strategic growth objectives directed at expanding
our reach within the US market," said Nico
Arnold, Cepheid's Executive Vice President of Worldwide
Operations. "We will continue to focus our direct sales efforts on
the approximately 2100 hospitals that have 150 beds and above.
Based on our positive experience to date with LABSCO and in
reviewing their strong resource commitment to Cepheid we are
excited to be moving to national implementation of our distribution
relationship. We feel strongly that our shared passion for
revolutionizing molecular diagnostics through a customer-first
approach will make for an ideal partnership."
In addition to the exclusive distribution rights, the agreement
also gives LABSCO non-exclusive rights to the non-acute care
non-hospital market, including surgical centers affiliated with
hospitals, independent surgical centers, physician's office
laboratories, group practices, and nursing homes.
"Cepheid is the highest growth company in molecular diagnostics.
The GeneXpert System is generations ahead of anything else we have
seen on the market," said Dan
Eckert, LABSCO's President and Chief Operating Officer.
"This is a great opportunity to partner with Cepheid to transform
diagnostic healthcare, and LABSCO has the clinically trained sales
force, market focus and service capabilities to help make that
happen."
About Cepheid
Based in Sunnyvale, Calif.,
Cepheid (Nasdaq: CPHD) is a leading molecular diagnostics company
that is dedicated to improving healthcare by developing,
manufacturing, and marketing accurate yet easy-to-use molecular
systems and tests. By automating highly complex and time-consuming
manual procedures, the company's solutions deliver a better way for
institutions of any size to perform sophisticated genetic testing
for organisms and genetic-based diseases. Through its strong
molecular biology capabilities, the company is focusing on those
applications where accurate, rapid, and actionable test results are
needed most, such as managing infectious diseases and cancer. For
more information, visit http://www.cepheid.com.
About the GeneXpert® System Molecular Diagnostic
Platform
The GeneXpert System is a closed, self-contained,
fully-integrated and automated platform that represents a paradigm
shift in the automation of molecular analysis, producing accurate
results in a timely manner with minimal risk of contamination. The
GeneXpert System is the only system to combine on-board sample
preparation with real-time PCR (polymerase chain reaction)
amplification and detection functions for fully integrated and
automated nucleic acid analysis. The system is designed to purify,
concentrate, detect and identify targeted nucleic acid sequences,
delivering answers directly from unprocessed samples. Modular in
design, the GeneXpert System has a variety of configurations to
meet the broad range of testing demands of any clinical
environment.
This press release contains forward-looking statements that are
not purely historical regarding Cepheid's or its management's
intentions, beliefs, expectations and strategies for the future,
including those relating to product performance and future market
opportunities. Because such statements deal with future events,
they are subject to various risks and uncertainties, and actual
results could differ materially from the company's current
expectations. Factors that could cause actual results to differ
materially include risks and uncertainties such as those relating
to: unforeseen manufacturing problems; uncertainties in the
regulatory review process for new products; regulatory developments
and practices regarding testing levels; customer and market
acceptance of the product; the failure of products to perform as
fast or as accurately as expected, whether due to manufacturing
errors, defects or otherwise; the impact of competitive products
and pricing; potentially lengthy sales cycles in some markets;
reimbursement rates for the products; and underlying market
conditions worldwide. Readers should also refer to the section
entitled "Risk Factors" in Cepheid's Annual Report on Form 10-K for
2010 and in its most recent quarterly report on Form 10-Q, each
filed with the Securities and Exchange Commission.
All forward-looking statements and reasons why results might
differ included in this release are made as of the date of this
press release, based on information currently available to Cepheid,
and Cepheid assumes no obligation to update any such
forward-looking statement or reasons why results might differ.
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CONTACTS:
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For Media
Inquiries:
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For Cepheid Investor
Inquiries:
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Jared Tipton
Cepheid Corporate
Communications
408-400-8377
communications@cepheid.com
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Jacquie Ross
Cepheid Investor
Relations
408-400-8329
investor.relations@cepheid.com
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SOURCE Cepheid