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August 21, 2009 (FinancialWire) -- IRIS International, Inc. (NASDAQ: IRIS), a leading manufacturer of urinalysis systems and consumables for use in hospitals and commercial laboratories worldwide, has entered into a distribution agreement with Fujirebio Inc., one of the largest in vitro diagnostics companies in Japan. The two companies made the announcement TODAY.
Under terms of the agreement, Fujirebio will be the exclusive distributor in Japan for the sale, marketing and service of IRIS's iQ(r)200 SPRINT, ELITE and SELECT series of Automated Urine Microscopy Analyzers, the iChem(r)VELOCITY(tm) Automated Urine Chemistry Analyzer, the combined iRICELL(tm) workstation, and all related consumables.
"We are delighted to be partnering with Fujirebio as our exclusive distributor in Japan," stated Cesar Garcia, chairman president and chief executive officer of IRIS International. "Fujirebio's core strengths, long history and excellent reputation within the healthcare industry combined with its nationwide sales office network and commitment to providing highly reliable products and service, provides IRIS a solid platform for penetrating the Japanese market with our automated urinalysis systems. With approximately 1,200 hospitals and clinical reference laboratories, the Japan market represents a significant opportunity. We look forward to developing a long and mutually beneficial relationship with Fujirebio," Garcia added.
"This transaction will give Fujirebio a set of new product offerings in the urinalysis area. As more and more hospitals and clinical labs look to create greater efficiencies and better diagnostic products, we are delighted to start distributing this notable product line," stated Dr. Hiromasa Suzuki, president and chief executive officer of Fujirebio Inc. "We strongly expect Fujirebio can provide more benefits to healthcare in Japan through this new relationship with IRIS."
Sales for IRIS's complete line of automated urinalysis products will commence immediately following the registration of each product. "We anticipate the registration process for the iQ(r)200 SPRINT, ELITE and SELECT analyzers will take approximately 3 to 6 months and the registration of the iChem(r)VELOCITY(tm) and iRICELL(tm) workstation will take 9 to 12 months," stated Garcia.
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