WEST BRIDGEWATER, Mass., Oct. 16 /PRNewswire/ -- Boston Biomedica, Inc. (Nasdaq: BBII) announced today that BBI-Source Scientific, Inc., a wholly owned subsidiary of BBI, has been awarded a three-year contract with revenue estimated at three million dollars annually to provide technical and field services for instruments sold by ABX Hematology, Inc. in the U.S. Under the contract with ABX, individual customer service contracts have been assigned to BBI-Source Scientific. To provide these services, BBI-Source Scientific has launched a nationwide field service organization, comprised of both service and technical personnel, that complements their existing Service Center capability.
Richard T. Schumacher, President and CEO of Boston Biomedica, Inc., confirmed the strategic importance of the ABX/BBI-Source Scientific agreement. "This contract represents another step in our well-defined, long-term strategy for growth and profitability in clinical diagnostics and related fields. We believe the sales and service alliance between ABX and BBI-Source Scientific will be highly beneficial to both companies, will help to ensure that the Source Scientific acquisition will not be dilutive in 1997, and should have a positive effect on BBI's earnings starting in 1998."
"BBI-Source Scientific has already demonstrated excellent performance in servicing our Micros(TM) Hematology systems; we are thus very confident that they will be of significant help to our U.S. customers during this transition to ABX Hematology, Inc.," said Jean-Edouard Robert, President of ABX Hematologie, France.
"We appreciate the confidence in our organization that this new relationship with ABX represents," said Richard Sullivan, Senior Vice President of BBI-Source Scientific. "The field service group is in place, well trained, and ready to support our customers in the laboratory." ABX Hematology, Inc. is a newly established U.S. subsidiary of ABX Hematologie of Montpelier, France, a worldwide supplier of innovative, cost-effective hematology systems since 1983. ABX systems were previously distributed in the U.S. by Roche Diagnostic Systems (RDS). ABX will now sell their products directly in the U.S., and BBI-Source Scientific will service them through the newly established field service organization.
BBI-Source Scientific is a developer and manufacturer of a broad line of clinical instrumentation and biomedical devices for the worldwide in vitro diagnostics industry (IVD). In addition, they are an important provider of contract services for product development, engineering and manufacturing. BBI-Source Scientific operates Service Centers at its headquarters in Garden Grove, CA and in Giessen, Germany.
Boston Biomedica, Inc. is a worldwide manufacturer and provider of proprietary quality control products for use with IVD test kits for the detection, analysis and monitoring of infectious diseases, including AIDS, Hepatitis and Lyme Disease. These products are used by clinical and research laboratories, blood banks, IVD manufacturers and regulatory agencies to help ensure the accuracy of infectious disease test results. The Company also manufactures IVD test kit components and provides specialty laboratory testing services.
This release may include forward-looking statements that may or may not materialize. Additional information or factors that could potentially affect the Company's financial results may be found in the Company's filings with the Securities and Exchange Commission.
Factors which might cause actual results to differ materially from those
projected in the forward-looking statements contained herein include the
following: inability of the Company to develop the end-user market for quality
control products; inability of the Company to integrate the business of Source
Scientific, Inc. into the Company's business; inability of the Company to
renew all of the existing field service contracts previously held by RDS;
inability of the Company to obtain an adequate supply of raw materials
necessary for certain of its products; significant reductions in purchases by
any of the Company's major customers; and the potential insufficiency of
Company resources, including human resources, plant and equipment and
management systems, to accommodate any future growth. These and certain other
factors which might cause actual results to differ materially from those
projected are more fully set forth under the caption "Risk Factors" in the
Company's Registration Statement on Form S-1 (SEC File No.333-10759).
SOURCE Boston Biomedica, Inc.
CONTACT: Richard T. Schumacher, President and CEO or Kevin W. Quinlan, Chief Financial Officer of Boston Biomedica, Inc., 508-580-1900