HOUSTON, Aug. 3, 2005 (PRIMEZONE) -- Labwire Inc. (Pink Sheets:LBWR) announced that the Company has reached an agreement with Arrin Systems, one of America's leading background search companies, to provide comprehensive drug testing solutions to Arrin's clients via Labwire's leading edge software module. Arrin Systems, headquartered in Carlsbad, California, will begin utilizing the Labwire(tm) Platform to offer drug testing management services to their 1600 clients.
The Company's Labwire Platform gathers, stores, retrieves and manages sensitive security and compliance data for mid-size and large corporations. Labwire's current business model targets corporations that average at least 1000 drug tests annually. Through a newly implemented "Business Consolidation" model, Labwire will now offer its employment management solutions to regional employment and drug screening providers who handle numerous small accounts.
According to Dexter Morris, Labwire Inc. President and CEO, "The Arrin Systems account marks the acceptance of our 'Business Consolidation' model which creates a new revenue stream for the Company. With this model in place, we have the ability to target the entire drug screening industry (estimated at 70 million tests annually) enabling Labwire to significantly increase its market share without significantly incurring additional sales expenses or capital expenditure."
The Labwire(tm) Platform required a capital investment of over $1 million and is a proprietary, web-based application that creates a virtual employment screening chain streamlining all aspects of the screening process in a secure and cost-efficient solution. The platform provides compliance with DOT (Department of Transportation) and DEA (Drug Enforcement Agency) regulations and adheres to strict Health Insurance Portability and Accountability Act (HIPAA) based protocols.
About Labwire Inc.
Labwire Inc., headquartered in Houston, TX, provides secure and compliant employee drug screening and background checking services to Fortune 500 corporations. The Company offers a comprehensive set of solutions to manage all aspects of employee screening services including drug testing program development and policy analysis, medical review services, supervisor training and secure real-time online data management via the Labwire(tm) Platform.
For corporate and product information, please visit www.labwire.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.