Press Releases Detail:
Avitar Announces an Agreement with ChoicePoint Covering the Sale of $10.5 Million for ORALscreen(TM) Drugs-of-Abuse Tests
September 20, 2001
CANTON, Mass., Sept. 20 /PRNewswire/ -- Avitar, Inc. (Amex: - news) today announced that it has reached an agreement with ChoicePoint (NYSE: - news) covering the sale of $10.5 million of Avitar's ORALscreen(TM) tests for drugs-of-abuse. As part of the transaction, ChoicePoint has committed to take delivery of a minimum of $2 million of products by December 31, 2001.
``This strategic agreement with one of America's leading companies for employment selection services represents a major milestone for Avitar,'' said Peter P. Phildius, Avitar's Chairman and Chief Executive Officer. ``ChoicePoint, the largest administrator of drug tests and background investigations in the world, serves over 20,000 customers including many Fortune 1000 companies. This provides Avitar with a significant opportunity for distribution of our products.''
Phildius continued, ``We continue to expand our customer base, and this agreement with ChoicePoint will substantially supplement our direct sales and marketing efforts allowing us to rapidly increase market acceptance and implementation of our revolutionary technology quicker than originally anticipated.''
``We are pleased to announce this agreement with Avitar, whose products will help ChoicePoint continue to aggressively respond to the changing needs of our customers in the rapidly growing market to detect drugs-of-abuse,'' said David J. Cook, Vice President of ChoicePoint. ``As the industry's leading innovator, we look forward to working with Avitar since they have demonstrated both the superior technology and internal capabilities to make this a rewarding alliance.''
Avitar, Inc. (Amex: - news) headquartered in Canton, Massachusetts, is a diagnostics company that develops, manufactures and markets innovative and proprietary medical devices in two major areas: the oral fluid drugs-of-abuse market and the disease & clinical testing market. Oral fluid diagnostics includes both the drugs-of-abuse testing market estimated to be worth $1.5 billion encompassing the corporate workplace and criminal justice markets. Avitar's products include ORALscreen(TM), the world's first non-invasive, rapid, onsite oral fluid test for drugs-of-abuse, and HAIRscreen(TM), a laboratory-based hair test for detecting long-term drug abuse. In the $20 billion disease & clinical testing market, Avitar is currently developing products that will address the conditions of Lyme disease, influenza and diabetes, as well as pregnancy. For more information, see Avitar's website at avitarinc.com.
ChoicePoint (NYSE: - news) is the leading provider of credential verification and identification services for making smarter decisions in today's fast paced world. The Company serves the information needs of insurance, business, government and individual customers, including Fortune 1000 corporations, asset-based lenders and professional service providers, and federal, state and local governments. ChoicePoint is committed to the responsible use of information and the protection of personal privacy as fundamental planks of the Company's business model. For more information about ChoicePoint visit the Company's Web site at www.choicepoint.net.
ChoicePoint is a registered trademark of ChoicePoint Asset Co.
This release contains forward looking statements that are subject to risks and uncertainties including the development and marketing of new applications and other risks that are detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Ingoldsby Investor Relations