Abaxis, Inc. Animal Health Announces the Addition of a Feline Heartworm Application to the Rapid Diagnostics Product Line

UNION CITY, Calif., Dec. 22, 2011 /PRNewswire/ -- Abaxis, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point of care instrumentation and consumables to the medical, research and veterinary markets, announced today the addition of a feline heartworm rapid test to their growing rapid diagnostics product line. The USDA has now approved the use of the Abaxis VetScan Canine Heartworm Antigen Test for feline applications. Abaxis anticipates shipping the product with its new application in January of 2012.

The addition of the feline heartworm claim represents the latest addition to a product line that already includes the VetScan Canine Heartworm Test, VetScan Canine Parvovirus Rapid Test and the VetScan Giardia Rapid Test. Michael Solomon, Director of Business Development for North America Animal Health, commented, “Adding the feline claim to the already well accepted VetScan Canine Heartworm Test allows the veterinarian the flexibility to use the same product they already purchase and trust for both their canine and feline patients.”

Gary Norsworthy, DVM and owner of the Alamo Feline Health Center in San Antonio, Texas, adds: “The ability to confidently identify adult heartworm infection in the cat with an antigen test provides the practitioner with an invaluable tool to positively diagnose the cause of respiratory presentations. While a negative test does not rule out the presence of adult heartworms and heartworm disease, a positive antigen test allows the veterinarian to provide a definitive diagnosis and prognosis, develop an appropriate treatment protocol and communicate this with the client with a high level of confidence.”

“Abaxis continues to add important diagnostic tests to our overall product portfolio. The addition of these tests, along with Abaxis Veterinary Reference Laboratory now fully operational, allows the veterinary community to continue to deliver high-quality, cost-effective testing options to pet owners during these tough economic times,” added Martin Mulroy, Corporate Vice President of Sales and Marketing for North America Animal Health.

About Abaxis
Abaxis develops, manufactures, markets and sells portable blood analysis systems for use in any veterinary or human patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 5.1 kilogram (11.2 pounds), portable analyzer and a series of single-use plastic discs, called reagent discs that contain all the chemicals required to perform a panel of up to 13 tests on veterinary patients and 14 tests on human patients. The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma samples. The system provides test results in less than 12 minutes with the precision and accuracy equivalent to a clinical laboratory analyzer. The veterinary business also provides to the animal health and research market a line of hematology instruments for point-of-care complete blood counts (CBC), a specialty instrument to screen for and detect clotting disorders and to measure equine fibrinogen levels, a handheld instrument for the rapid assessment of certain critical care tests and rapid point-of-care tests for Heartworm infections in dogs, Parvovirus and Giardia. Abaxis, through its AVRL Division, provides routine laboratory testing as well as specialty testing for veterinarians nationwide. This state-of-the-art commercial laboratory will be the hub of the Abaxis Veterinary Reference Laboratories (AVRL).

This press release includes, and our conference call will include, statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”), including but not limited to statements related to Abaxis’ cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. Abaxis claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,” “projects,” “expects,” “anticipates,” or words of similar import, and do not reflect historical facts. Specific forward-looking statements contained in this press release or in Abaxis’ conference call may be affected by risks and uncertainties, including, but not limited to, those related to losses or system failures with respect to Abaxis’ facilities or manufacturing operations, fluctuations in quarterly operating results, dependence on sole suppliers, the market acceptance of Abaxis’ products, the continuing development of its products and the Abaxis Veterinary Reference Laboratories, required United States Food and Drug Administration clearance and other government approvals, risks associated with manufacturing and distributing its products on a commercial scale free of defects, risks related to the introduction of new instruments manufactured by third parties, risks associated with competing in the human diagnostic market, risks related to the protection of Abaxis’ intellectual property or claims of infringement of intellectual property asserted by third parties, risks related to condition of the United States economy and other risks detailed under “Risk Factors” in Abaxis’ Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011 and Abaxis’ other periodic reports filed from time to time with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statements were made. Abaxis does not undertake and specifically disclaims any obligation to update any forward-looking statements.

SOURCE Abaxis, Inc.