HOUSTON, July 11, 2005 (PRIMEZONE) -- Labwire Inc. (Pink Sheets:LBWR) announces that the Company's contract with the largest school bus and inter-city bus operator in North America, initially awarded on July 1, 2004, has reached full scale implementation. The contract, which is the largest DOT-regulated contract in industry history, encompasses drug-screening services and represents significant recurring monthly revenue for the Company.
Dexter Morris, President of Labwire, stated, "The full execution of this contract demonstrates our ability to provide superior comprehensive employment management solutions to a Fortune 500 corporation. The success that we have experienced implementing this contract is a testament to the capabilities of the Labwire platform to drastically increase the efficiency of the drug screening process while offering the best value proposition in the industry. Management anticipates that the contract will generate in excess of $12,000,000 if all extensions are exercised."
The Company's Labwire(TM) Platform is a leading-edge information technology solution that gathers, stores, retrieves and manages sensitive security and compliance data primarily for the Transportation and Oil & Gas industries. The Labwire(TM) Platform 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 and delivers service with what is believed to be the lowest operating cost per transaction in the industry.
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. Labwire(TM) is a proprietary, real-time web-based application that streamlines the complex regulatory and record management activities associated with employee screening, delivering accurate timely results.
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.