OraSure Technologies Announces Large Commitment From Major Retailer For Intercept Drugs of Abuse System; Retailer To Use Oral Fluid Specimens For Workplace Drug Testing
BETHLEHEM, Pa.--(BW HealthWire)--April 5, 2001--OraSure Technologies, Inc. (Nasdaq:OSUR) today announced that a major retailer has committed to use the Company's Intercept(TM) Drugs of Abuse product.
With thousands of locations nationwide, the account is expected to generate approximately $1.2 million in annual sales for OraSure Technologies once the program is fully implemented.
The retailer has indicated that it will immediately begin to use Intercept to test potential employees for drugs of abuse at stores across the country, with full implementation of the program expected by year-end.
Robert D. Thompson, chief executive officer of OraSure Technologies said, "A commitment from a customer of this size is a watershed event for oral fluid drug testing, providing credibility and publicity for OraSure's programs and products. Large retailers represent model candidates for the Intercept system. Intercept eliminates the need for urine samples, which can be especially costly and difficult for a company with multiple locations across the country. Intercept offers mobility, cost savings, eases the burden of testing program administration, and provides a more dignified testing process."
The Intercept system detects a five-drug panel (marijuana, cocaine, opiates, PCP and amphetamines) and enables next-day reporting on negative results and a 48 to 72 hour turnaround time for confirmed positives.
LabOne, Inc. (Nasdaq:LABS) will provide the laboratory service to support the reagents and oral fluid collection devices provided by OraSure Technologies. SAMI, a leading national third party administrator of workplace drug testing programs, will administer the Intercept program, provide medical review and data management services.
For an electronic copy of this release or for further information on the Company, please visit our newly updated corporate website at www.orasure.com. About OraSure
OraSure Technologies, Inc. develops, manufactures and markets medical devices and diagnostic products for use by public- and private-sector clients, clinical laboratories, physicians' offices and workplace testing. OraSure Technologies is the leading supplier of oral fluid collection devices and assays to the life insurance industry and public health markets for the detection of antibodies to HIV. In addition, the company supplies oral fluid testing solutions for drugs-of-abuse testing. For more information on the company, visit our website at www.orasure.com. About LabOne, Inc.
LabOne is a national laboratory testing and information service provider with three divisions: insurance services, healthcare and substance abuse testing. The insurance services division with its ExamOne and SBSI subsidiaries provides proprietary information technologies CaseView and LabOne NET(TM), and CaseOne case management service to life and health insurance companies. These services include laboratory test results, paramedical examinations, attending physician statements, motor vehicle reports, background inspections and personal history interviews. LabOne's healthcare division provides medical diagnostic testing and related services to physicians and managed care organizations, and to benefit providers through its unique Lab Card(R) employee benefit program. The healthcare division's disease management reporting is specifically designed to provide managed care clients with HEDIS data necessary for their NCQA accreditation. The company's substance abuse testing division provides drug testing services to Fortune 1000 employers and markets Intercept(TM), the oral fluid drug test, in the workplace drug testing market. About SAMI
Substance Abuse Management, Inc. (SAMI) the nation's leading Third Party Administrator for Drug-Free Workplace Programs, will provide physician Medical Review Officer services and confidential data management. SAMI's leading edge technology makes it possible for employers to get their test results 24 hours per day, from anywhere in the U.S., using transmission methods suited for each individual location. SAMI processes the results of over 1,000,000 drug and alcohol tests per year for approximately 6,000 clients. For more information on the company, please visit our website at www.samimro.com.
This press release contains certain forward-looking statements, including with respect to product sales, performance and benefits. Actual results could be significantly different. Factors that could affect results include ability to market products; impact of competitors, competing products and technology changes; ability to develop, commercialize and market new products; market acceptance of oral fluid testing products; loss or impairment of sources of capital; exposure to product liability and other types of litigation; changes in international, federal or state laws and regulations; changes in relationships with strategic partners and reliance on strategic partners for the performance of critical activities under collaborate arrangements; changes in accounting practices or interpretation of accounting requirements; equipment failures and ability to obtain needed raw materials and components; and general business and economic conditions. These and other factors are discussed more fully in the Securities and Exchange Commission (SEC) filings of OraSure Technologies, including the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Although forward-looking statements help to provide complete information about future prospects, readers should keep in mind that forward-looking statements may not be reliable. The forward-looking statements are made as of the date of this press release and OraSure Technologies undertakes no duty to update these statements.
CONTACT:OraSure Technologies, Inc.
Michelle Sells, 503/641-6115
Investorinfo@orasure.com
www.orasure.com
or
Rich Hooper, 610/882-1820
