Press Release

 

Osmetech plc ('Osmetech' or the 'Company')

 

Osmetech and Fisher Agree to Terminate US Distribution Agreement

 

24 September 2009

                    

Osmetech plc (‘Osmetech’, OMH.L), the international molecular diagnostics business, announced today that following discussions with Fisher HealthCare, a division of Fisher Scientific Company L.L.C, both companies have mutually agreed to terminate, with immediate effect, their US distribution agreement, which was entered into in March 2009.

 

Osmetech has made the strategic decision to build its own direct sales force in the US with the objective of targeting key molecular diagnostic testing laboratories as well as clinics that have been established to dose and monitor the administration of certain therapeutic drugs. The Company’s existing sales force, which is currently being expanded, will be further increased over the next three years as the molecular testing market grows and more high value tests are added to the Company’s award winning eSensor XT-8 platform.

 

Commenting on this change in sales strategy, President and Chief Executive Officer, Faiz Kayyem stated: “We believe that the most effective and profitable way for Osmetech to expand placements of our eSensor XT-8 units and associated test revenues is to market our products directly in the US through our own dedicated sales channel. This sales force will be relatively small in the initial phase but structured to allow flexibility in meeting the requirements of the dynamic and rapidly expanding molecular diagnostics market. It is our belief that the increased control afforded by a direct marketing effort will allow us to drive faster growth of our business and create greater value for our shareholders. ”

 

For further information:

 

Osmetech plc:

+44 (0) 20 7849 6027
Jon Faiz Kayyem, Chief Executive Officer                    +1 626 463 2000

David Sandilands, Financial Officer

 

 

 

Madano Partnership:

+44 (0) 207 593 4000

Mark Way

 
Matthew Moth  
www.madano.com  

 

 

Canaccord Adams Limited:

+44 (0) 20 7050 6500

Robert Finlay

 

Henry Fitzgerald-O'Connor