Abbott's Point of Care business has gained marketing and distributing rights for Abaxis' portable clinical chemistry analyzer and its reagent discs in the US and China (including Hong Kong).
The system, Piccolo Xpress, contain all the chemicals required to perform a panel of up to 13 tests on veterinary patients and 14 tests on human patients.
Under the agreement, Abaxis will retain the distribution rights to current customer, Catapult Health and certain segments including pharmacy and retail store clinics, shopping malls, contract research organizations (CROs), and cruise ship lines.
Abaxis chairman and chief executive officer Clint Severson said the company believes that the agreement validates the technology of its innovative products to produce lab-accurate comprehensive test results in minutes, reduce medical expenses and improve patient outcomes.
"We expect that this partnership will allow us to grow our medical sales, and look forward to a successful collaboration with Abbott in the years to come," Severson added.
"I would also like to extend my appreciation to Brenton Hanlon and his team for the work done in widening the recognition of our Piccolo line of products and the benefits that it provides for medical practitioners and institutions throughout the U.S."