American Bio Medica and Dräger Safety Announce Worlwide Distribution Relationship
KINDERHOOK, N.Y. -- (BUSINESS WIRE) -- August 1, 2011 -- American Bio Medica Corporation (ABMC.PK) today announced they have entered into a Supply Agreement with Dräger Safety. Under the agreement, Dräger Safety will distribute the Company's drugs of abuse test kits to territories and markets in North America, Europe, Asia, Africa, and Central and South America; with certain markets and territories being exclusive to Dräger Safety
ABMC CEO Stan Cipkowski stated, "Dräger is well known throughout the world as a provider of quality medical and safety products and we are pleased that after extensive due diligence, they have chosen to distribute ABMC's drug testing kits. Both ABMC and Dräger are driven by a desire to achieve the highest levels of quality and customer service, and I believe that this shared philosophy will be the foundation of a very successful partnership; which will undoubtedly have a positive impact on the business of both ABMC and Dräger."
Michael Reinhart, Vice President Diagnostics at Dräger Safety: "With ABMC's accurate and cost-effective products, Dräger will be able to extend its abilities to respond to customer needs in road-side and workplace drug testing. ABMC's US-made visual tests will complement Dräger's Analyzer-based tests to provide the full DAT portfolio to the customer."
For more information on ABMC or its drug testing products, please visit www.abmc.com, or for more information on Dräger Safety or their products, please visit www.draeger.com.
About American Bio Medica Corporation
American Bio Medica Corporation is a biotechnology company that develops, manufactures and markets accurate, cost-effective immunoassay test kits, including some of the world's most effective point of collection tests for drugs of abuse in urine and oral fluid (saliva). The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets.
About Dräger. Technology for Life®
Dräger is an international leader in the fields of medical and safety technology. Dräger products protect, support and save lives. Founded in 1889, in 2010 Dräger generated revenues of around EUR 2.18 billion. The Dräger Group is currently present in more than 190 countries and has about 11,000 employees worldwide.
This release may contain forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ, and such differences could be material. Such risks and uncertainties include, but are not limited to, risks and uncertainties related to the following: continued acceptance of our products, increased levels of competition in our industry, acceptance of new products, product development, compliance with regulatory requirements, intellectual property rights, our dependence on key personnel, third party sales and suppliers, trading in our common shares may be subject to "penny stock" rules, our history of recurring net losses and our ability to continue as a going concern. There can be no assurance that the Company will be successful in addressing such risks and uncertainties and the Company assumes no duty to update any forward-looking statements based upon actual results. Investors are strongly encouraged to review the section entitled “Risk Factors” in the Company's annual report on Form 10-K for the year ended December 31, 2010, quarterly reports on Form 10-Q, and other periodic reports on file with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect operating results and the market price of the Company's common shares.
American Bio Medica Corporation Stan Cipkowski, 800-227-1243, Ext 106 Chief Executive Officer