TriPath Imaging Announces New Contract in U.K.
December 08 2005 - 6:37AM
PR Newswire (US)
Cumulative Commitments to SurePath Now Nearly 36% of Market
BURLINGTON, N.C., Dec. 8 /PRNewswire-FirstCall/ -- TriPath Imaging,
Inc. (NASDAQ:TPTH) today announced that Medical Solutions plc, its
licensed distributor in the United Kingdom (U.K.), has been awarded
a five-year contract to supply the SurePath(TM) liquid-based Pap
test to the South Yorkshire Cytology Trusts. "We are very pleased
that the U.K. continues to adopt the SurePath liquid- based Pap
test," said Ray Swanson, Senior Vice President of Commercial
Operations of TriPath Imaging. "With this contract, we now have
cumulative commitments that represent nearly 36% of the market in
the U.K., 38% in England and Wales. We expect to continue to grow
our opportunity in the U.K. as other regions finalize their
decisions." About TriPath Imaging, Inc. TriPath Imaging, Inc.,
headquartered in Burlington, North Carolina, develops,
manufactures, markets and sells innovative solutions to improve the
clinical management of cancer, including detection, diagnosis,
staging and treatment. TriPath Oncology, a wholly owned subsidiary
of TriPath Imaging, develops molecular diagnostic products for
malignant melanoma and cancers of the cervix, breast, ovary and
prostate. Investors are cautioned that statements in this press
release that are not strictly historical statements constitute
forward-looking statements which involve risks and uncertainties
that could cause actual results and outcomes to differ materially
from what is expressed in those forward-looking statements. Such
forward-looking statements include, without limitation, those
related to the scheduled rollout of its tests in the South
Yorkshire Cytology Trusts of England expected growth in the U.K.
Important factors that may affect TriPath Imaging's operating
results include, without limitation: TriPath Imaging may not
receive revenues when or in the amounts anticipated; TriPath
Imaging may be unable to increase sales and revenues at its
historical rates; TriPath Imaging and TriPath Oncology's products
may not receive FDA or other required regulatory approval when
expected, if at all; TriPath Imaging may be unable to increase its
penetration of the large commercial laboratories to the extent it
expects while maintaining its business with its traditional
customer base, and may not achieve revenues to the degree expected
from the sale of reagents and instrument systems derived from its
molecular oncology development program; TriPath Imaging's expanding
sales and marketing presence may not have the expected impact and
may face attrition issues customary for such an expansion; TriPath
Imaging's results and profitability in any particular period may be
impacted by the timing of certain non-cash sales discounts that
TriPath Imaging will record in connection with the vesting of
certain warrants; expenses may exceed expectations and TriPath
Imaging may not maintain profitability; changes in general economic
conditions or the healthcare industry may occur that adversely
affect TriPath Imaging's customers' purchasing plans; competition
and competitive pricing pressures may limit TriPath Imaging's
flexibility with respect to the pricing of its products; TriPath
Imaging may need to obtain additional financing in the future;
TriPath Imaging may not be able to develop and to protect
adequately its proprietary technology; and other risks detailed in
TriPath Imaging's filings with the Securities and Exchange
Commission, including those described in TriPath Imaging's Annual
Report on Form 10-K for the year ended December 31, 2004. Contacts
Stephen P. Hall Chief Financial Officer (336) 290-8721 DATASOURCE:
TriPath Imaging, Inc. CONTACT: Stephen P. Hall, Chief Financial
Officer, +1-336-290-8721 Web site: http://www.tripathimaging.com/
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