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TWST: We would like to begin with a brief historical sketch of Abaxis
and a picture of the things you are doing right now.
Mr. Severson: Abaxis is a point-of-care blood chemistry company, and our
product consists of a small instrument, about the size of a toaster, and
a plastic disc that allows the customer to collect up to 14 blood
chemistry results in 12.5 minutes with five drops of blood. The company
was formed in 1989. We launched our first product in 1995. We completed
our entire menu for the blood chemistries, which include 96% of vet
physicians and veterinarian orders, in January 2003. TWST: What are the advantages of your product versus the standard things
that are out there?
Mr. Severson: The standard thing out there on the medical side is the
centralized laboratory. With the centralized laboratory, you've either
got to go to an office to get your blood drawn or it's drawn in a
physician office. Then it needs to be processed, spun down, packaged,
and one needs to fill out the request form. It either goes in the mail
or is picked up by a courier, and then you get the results a couple of
days later. In contrast to that, with the Abaxis Piccolo blood chemistry
machine, you add five drops of whole blood, you push a button, and in
12.5 minutes, you've got your results.
Tickers included in this excerpt: ABAX
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