WALTHAM, Mass., July 24 /PRNewswire-FirstCall/ -- Inverness Medical Innovations, Inc. , a leading manufacturer and marketer of rapid diagnostic products for the consumer and professional markets today announced that it had reached an agreement with Thermo Fisher Scientific to extend their cardiology products distribution relationship by two years through December 2010.
The co-exclusive agreement continues to cover all of the cardiology and drugs of abuse rapid test products manufactured by the Biosite subsidiary of Inverness and sold under the Triage brand including tests for BNP, troponin, CK-MB, Myoglobin, d-dimer and a broad range of meter and visually read drugs of abuse tests. However, products sold for use on third party instruments such as the BNP test sold by Inverness for use on Beckman immunoassay systems are not included.
Commenting on the agreement, Ron Zwanziger, CEO of Inverness, said, "Inverness has enjoyed a long and successful relationship with Thermo Fisher Scientific and very much values their expertise in distribution to the clinical laboratory. We are very pleased to extend this agreement for our Triage product line and look forward to a continuing strong affiliation."
The modified financial terms of the new agreement were not disclosed. About Inverness
By developing new capabilities in near-patient diagnosis, monitoring and health management, Inverness Medical Innovations enables individuals to take charge of improving their health and quality of life. A global leader in rapid point-of-care diagnostics, Inverness' products, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Inverness is headquartered in Waltham, Massachusetts. For more information about Inverness Medical Innovations, please visit http://www.invernessmedical.com/.
Statement under the Private Securities Litigation Reform Act
This press release contains forward-looking statements within the meaning of the federal securities laws. Actual results may differ materially due to numerous factors, including without limitation, the demand for Inverness' current and future products; the ability of Inverness to efficiently manufacture those products and the risks and uncertainties described in Inverness' periodic reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
