MIAMI LAKES, Fla., Nov. 7, 2014 (GLOBE NEWSWIRE) -- ERBA Diagnostics, Inc. (NYSE MKT:ERB) will be featuring two new fully automated diagnostic testing instruments, the Hb-Vario diabetes monitoring system and the Laura XL urinalysis processer, at MEDICA 2014 in Dusseldorf Germany, November 12-15. ERBA Diagnostics will also showcase its comprehensive range of testing products, including the Elisa systems for autoimmune and infectious disease, chemistry analyzers, hematology analyzers, urine analyzers and coagulation systems.
The Hb-Vario is an automated HPLC system that is capable of measuring both Glycated hemoglobin (HbA1c) and HbA2 for the monitoring of diabetes. ERBA Diagnostics anticipates launching the product initially in Europe, following CE Mark clearance, followed by a release in select emerging markets.
Diabetes continues to be one of the major challenges worldwide to the healthcare industry. The benefits of monitoring HbA1c values to better manage diabetes is well documented in numerous studies and is a key to reducing co-morbidity complications. HbA1c testing is poised to emerge as a popular technology with outpatient clinics and small hospital-based laboratories according to a industry analyst report, which forecasts that the global market for diabetes diagnostics is estimated to reach US$26 billion per year by 2015.
The Laura XL is a fully automated urinalysis and sedimentation processor with the capability to automate urine strip reading as well as performing sedimentation cell analysis for abnormal samples. ERBA Diagnostics will be the exclusive distributor for the product in the U.S. and Latin America following receipt of regulatory approvals and clearances. Industry analysts have estimated that the worldwide in vitro diagnostics urinalysis market is approximately US$600 million per year.
“These two new products offer state-of-the-art technology, a user-friendly interface, and a throughput that is ideally suited for the smaller hospitals, reference labs and physicians’ clinics,” said Suresh Vazirani, Executive Chairman of ERBA Diagnostics. “Diabetes testing in particular is an area of focus for ERBA Diagnostics, given the increased incidence of the condition and the impact testing can have on patient care. We believe both new products will contribute to the growth of our business and expand our market share within the global diagnostics industry.”
About ERBA Diagnostics, Inc.
ERBA Diagnostics, Inc. (NYSE MKT:ERB) is a fully integrated in vitro diagnostics company, offering a comprehensive suite of clinical testing products throughout the U.S. and emerging markets. The Company serves as a one-stop shop for the testing needs of the growing number of smaller hospitals, reference labs, and physician clinics. ERBA Diagnostic’s line of proprietary and automated instruments, test kits, and reagents provide customers with autoimmune, infectious diseases, clinical chemistry, hematology, and diabetes testing. www.erbadiagnostics.com
About MEDICA
MEDICA is the center of attraction for all those involved in the health care industry. Over 130,000 visitors from 120+ countries are expected to again obtain information on all the current and future trends in in-patient and out-patient care at this annual event. With its numerous special events, newly-restructured international conference and forum program, not to mention the largest and most comprehensive product display in the industry, MEDICA is the hub of the worldwide medical trade.
Safe Harbor Statement
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the business and prospects of ERBA Diagnostics, Inc., including, without limitation, the risks and uncertainties related to: ERBA Diagnostics’ ability to successfully implement its strategic initiatives, in the timeframes anticipated, or at all, including, without limitation, that ERBA Diagnostics may not be able to successfully launch the Laura XL and the Hb-Vario in the timeframe anticipated or at all, and that, once commercially launched, the Laura XL and the Hb-Vario may not contribute to the growth of ERBA Diagnostics’ business or expand its market share or be a source of revenue or earnings growth or otherwise positively impact ERBA Diagnostics’ financial condition, operating results and cash flows; and economic, competitive, political, governmental and other factors affecting ERBA Diagnostics and its operations, markets and products. In addition to the risks and uncertainties set forth above, investors should consider the economic, competitive, governmental, technological and other risks and uncertainties discussed in ERBA Diagnostics’ filings with the Securities and Exchange Commission, including, without limitation, the risks and uncertainties discussed under the heading “Risk Factors” in such filings.
CONTACT: Investors & Media Tom Baker Stonegate, Inc. Tel: 617.532.0624 tbaker@stonegateinc.com
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