NEW PALTZ, N.Y., July 6 /PRNewswire-FirstCall/ -- American Scientific Resources (PNK: ASFX) today announced that Walter Lambert, Chairman of the Board has signed, on behalf of the Company, a three-year renewable distribution contract with Analyticon, a leading manufacturer of chemical reagents, diagnostic instrumentation and rapid assay point of care tests. Analyticon is based in Lichetenfels, Germany.
American Scientific Resources (ASR) will import and offer, through its national distributors, a new improved line of diagnostic tests that feature significant improvements over existing test procedures performed in doctors' offices, clinics and hospitals. In ASR's management's opinion, Analyticon has set new standards in point of care testing to include improving urine analysis instrumentation and associated test strips routinely used in clinical settings.
Mr. Lambert stated, "We are very excited to secure distribution rights to this innovative product line, and look forward to working with Analyticon to bring this product to the US market. We are impressed with the Company's reputation for quality products and manufacturing excellence. Joint ventures with reputable companies such as this are a key component in the execution of our growth strategy."
ASR will unveil Analyticon's high-speed proprietary robotic urine analyzer in July at the American Association for Clinical Chemistry. This product has a 250 test per hour through put, and will perform simultaneously over ten diagnostic determinations, detecting levels of bilirubin, ketones, glucose, among others. The instrument will also have the capacity, with its computerized built in microscope system, to automatically identify, classify and archive microscopic crystals, which are indications of certain disease states. ASR will be offering three analyzers for low, moderate and high through put needs to a marketplace estimated by management to exceed half a billion dollars per year.
ASR will also have exclusive rights to market Analyticon's nanosphere technology, scheduled for release in the fall of 2005. Peter Lordi, President of Ulster Scientific, a division of ASR, stated, "This new strip technology can be incorporated into electronic sensors as a component of high speed computerized instrumentation. The new approach to rapid assay testing will greatly improve the efficiency of diagnostic testing such as infective disease identification. These tests, along with other diagnostic tests will be performed more accurately and much more economically using this technology."
About American Scientific
American Scientific Resources, Inc. is an emerging holding company based in upstate New York that provides a broad range of healthcare and medical products distributed primarily by surgical supply dealers and retail drug chains. The company is comprised of three core operating subsidiaries: 1) Heart Smart System, Inc., the company's flagship product offering focused on the successful prevention of cardiovascular disease using its patented CoQ10 supplement 2) Kidz-Med, Inc., a leading brand of safe and innovative pediatric products, and 3) Ulster Scientific, Inc., a distributor of unique medical products and laboratory diagnostic equipment founded in 1974. American Scientific Resources' growing, national customer base includes Walgreens, CVS, Cardinal Health and Fisher Scientific.
SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward- looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risks that our products may not achieve customer acceptance or that they will not perform as expected, that customer trials will not lead to future sales, and other risks identified in our annual report on Form 10-K and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and DVS undertakes no obligation to update such statements.
American Scientific Resources, Inc.