ERBA Diagnostics Inc. (NYSE MKT:ERB) announced the opening of its
wholly-owned subsidiary, ERBA Diagnostics Mexico S.A., located in Mexico
City. This new subsidiary is ERBA Diagnostics’ fifth wholly-owned
subsidiary.
ERBA Mexico is in the process of employing a team of sales specialists
and customer support engineers, which is expected to increase sales
through improved customer support and brand image.
The IVD market in Mexico is estimated by market researchers to be
approximately U.S.$ 400 million, with 70% of such market being composed
of Immunochemistry (32 %), Hematology / Coagulation (14%) and Chemistry
/ Urine analysis (25%). ERBA Diagnostics’ product range is focused on
these market segments, which product range, coupled with the composition
of the Mexican market, is expected to give ERBA Diagnostics the
potential for additional business opportunities in the near future. The
Mexican market for diagnostics is expected by market researchers to
continue to grow at the rate of approximately 15% per year.
ERBA Mexico is being equipped with a sales and service training center
in an effort to provide better support to ERBA Diagnostics’ distributors
and customers in over 20 counties of Latin America, with an aggregate
population of over 600 million.
About ERBA Diagnostics, Inc.
ERBA Diagnostics, Inc. (www.erbadiagnostics.com),
headquartered in Miami Lakes, Florida, is a fully integrated in vitro
diagnostics company that develops, manufactures and distributes in the
United States and internationally, proprietary diagnostic reagents, test
kits and instrumentation, primarily for autoimmune and infectious
diseases, through its legacy subsidiaries – Diamedix Corporation (U.S.),
Delta Biologicals S.r.l. (Europe) and ImmunoVision, Inc. (U.S.) – and
through its recently acquired subsidiaries – Drew Scientific, Inc.
(U.S.) and JAS Diagnostics, Inc. (U.S.) – and through its newest
subsidiary – ERBA Diagnostics Mexico S.A.
Safe Harbor Statement
Except for the historical matters contained herein, statements in
this press release are forward-looking and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that forward-looking statements
involve risks and uncertainties that may affect the business and
prospects of ERBA Diagnostics, Inc., including, without limitation, the
risks and uncertainties related to: ERBA Diagnostics’ ability to
successfully improve its financial condition, results of operations and
cash flows; the ability of Erba Mexico’s employment of sales specialists
and customer support engineers to successfully increase sales, whether
through improved customer support and brand image or otherwise; the
ability of ERBA Diagnostics to successfully achieve additional business
opportunities, whether as a result of the combination of its product
range and the composition of the Mexican market or otherwise, whether in
the timeframe anticipated or at all; the ability of ERBA Mexico’s sales
and service training center to successfully provide better support to
ERBA Diagnostics’ distributors and customers in Latin America; and
economic, competitive, political, governmental and other factors
affecting ERBA Diagnostics and its operations, markets and products. In
addition to the risks and uncertainties set forth above, investors
should consider the economic, competitive, governmental, technological
and other risks and uncertainties discussed in ERBA Diagnostics’ filings
with the Securities and Exchange Commission, including, without
limitation, the risks and uncertainties discussed under the heading
“Risk Factors” in such filings.
Copyright Business Wire 2013