Cytyc Corporation (CYTC) And Olympus Sign Exclusive Agreement For Distribution Of ThinPrep(R) System In Japan
10/19/2005 5:09:03 PM
MARLBOROUGH, Mass. & TOKYO--(BUSINESS WIRE)--July 27, 2005--Cytyc Corporation (Nasdaq: CYTC) and Olympus Corporation today announced an exclusive agreement appointing Olympus as the sole and exclusive distributor for the sale of Cytyc's ThinPrep(R) System in Japan. The ThinPrep System includes the ThinPrep(R) 2000 and 3000 Processor, ThinPrep(R) Imaging System, and related reagents, filters, and other supplies. The term of the agreement is five years, during which time Olympus will apply its formidable sales and marketing resources to expand implementation of the ThinPrep System for cervical screening throughout Japan. Currently, there are approximately ten million Pap tests performed annually in Japan.
"We are very excited to form this partnership with Olympus, a recognized world leader in developing and marketing innovative technologies," said Patrick J. Sullivan, Cytyc's chairman, president, and chief executive officer. "Olympus is clearly the market leader in biological microscopes worldwide, and as we have been a customer and collaborator throughout the evolution and development of the ThinPrep System, it is through this relationship that we can attest to the quality of their products and the professionalism of their organization. We believe they are the ideal partner to drive implementation the ThinPrep System in Japan."