IVAX Diagnostics, Inc. (AMEX:IVD), a fully integrated global invitro diagnostics company, announced that its subsidiary, Diamedix Corporation, has signed a distribution agreement with Nova Century Scientific (“Nova”), a leading Canadian distributor and manufacturer of diagnostic kits and laboratory supplies. Through this agreement, which marks IVAX Diagnostics’ entry into the Canadian market, Nova will market and sell 50 of Diamedix’s products, including analyzer instrumentation, under the Diamedix brand. Nova distributes products to hospitals, clinical laboratories and research institutions across Canada, and is a subsidiary of IMMCO Diagnostics, Inc.
“Nova’s agreement with Diamedix strengthens our position in the growing Canadian market for in vitro diagnostics. Diamedix’s high quality products provide us with yet another competitive advantage as we continue to penetrate the marketplace with our broad range of quality laboratory products.”
Charles Struby, Ph.D., Chief Executive Officer and President of IVAX Diagnostics, said, “With the Canadian in vitro diagnostics market estimated to be $0.8 billion this distribution agreement presents solid opportunities for Diamedix to enter this country with a high-quality market leader. This agreement also reflects the broadening of our collaboration with IMMCO Diagnostics, with whom we expanded our relationship in July 2009, and for whom we are currently distributing products in the U.S. and Europe.”
Bill Maggio, President and CEO of IMMCO Diagnostics, said, “Nova’s agreement with Diamedix strengthens our position in the growing Canadian market for in vitro diagnostics. Diamedix’s high quality products provide us with yet another competitive advantage as we continue to penetrate the marketplace with our broad range of quality laboratory products.”
Dr. Struby concluded, “This agreement, which is the second exclusive distribution agreement we have signed during the first quarter of 2010, reflects our strategy of continuing to expand our suite of high quality, reliable products, into new geographical areas.”
Source IVAX Diagnostics, Inc.