CULVER CITY, Calif., Dec. 21, 1999 (PRIMEZONE) --CARESIDE Inc., (AMEX:CSA) (AMEX:CSA.W), announced today the market launch of the CARESIDE Analyzer(TM) with shipments to health clinics within the United States.
W. Vickery Stoughton, chairman and CEO said, "The paradigm shift toward point-of-care technology has begun and CARESIDE is at the forefront. From the beginning, CARESIDE's goal has been to bring high-quality testing closer to the patient, and in the process, decentralize laboratory operations. CARESIDE now has several systems in clinics delivering on that goal. As a result, we are reducing the cost of laboratory services while increasing the quality of patient care."
Currently, CARESIDE applications specialists are installing CARESIDE Analyzers and training non-technical personnel to operate and maintain the device.
"We believe that widespread acceptance of the CARESIDE Analyzer will take time, but will grow exponentially as doctors and patients reap the benefits of better, more efficient health care," Stoughton said. "We anticipate that these early customers' initial purchases will be to confirm the CARESIDE Analyzer's capabilities within their clinical setting before adopting it for broader application. We have developed the necessary customer and technical service infrastructure to support our customers in this process."
The company also announced that its CARESIDE Analyzer now carries the highly regarded UL Classification Mark (2601-1) from Underwriter's Laboratories Inc. This safety classification assures that that the instrument may be used safely in the near-patient environment. Many potential customers, including hospitals, military, and governmental healthcare groups, require this mark from their medical device vendors.
"Our customers recognize that the CARESIDE Analyzer's comprehensive test menu and quick, 15-minute test result makes it more than a simple diagnostics tool and can actually transform their blood testing processes," Stoughton said. "These features, combined with its ease of use and cost effectiveness, make the CARESIDE Analyzer attractive for physicians, nursing homes operators and others who previously relied on centralized or commercial labs.
The CARESIDE Analyzer's comprehensive test menu offers 36 FDA-cleared or -exempt chemistry, electrochemistry and coagulation tests. In addition, the company plans to add immunochemistry testing to the CARESIDE Analyzer in 2000 along with additional chemistry and coagulation tests. The CARESIDE Analyzer has been designed to allow such a test expansion to be performed by the customer through a simple software upgrade.
CARESIDE, Inc., based in Culver City, CA, has developed a proprietary blood testing system, including its CARESIDE Analyzer and accompanying hematology device and record management software. The CARESIDE Analyzer provides a cost-effective and efficient means of analyzing blood chemistry, electrochemistry and coagulation at the point of patient care by producing accurate test results within 15 minutes. The company is manufacturing its blood-testing system and distributing it to health care providers in the U.S. and abroad.
SAFE HARBOR: Statements in this press release regarding CARESIDE Inc. which are not historical facts are forward-looking statements that involve risks and uncertainties. Such forward-looking statements include the date of immunochemistry testing capability, the release of additional chemistry and coagulation tests and the rate of market adoption of the CARESIDE Analyzer product. Key factors which may impact on these statements include technological hurdles, the FDA approval process, market acceptance and other challenges inherent in product research, development, manufacturing, and marketing discussed in the Company's prospectus. The Company undertakes no obligation to update forward-looking statements. Please see the risk factors listed from time to time in the Company's prospectus and reports on file with the SEC.