CLX Medical, Inc. CEO Discusses Opportunity Presented by the Planned Acquisition of ThyroTest(R)
MURRIETA, CA--(eMediaWorld - September 25, 2008) - CLX Medical, Inc. (
CLX Medical, which is focused on the marketing and distribution of unique medical diagnostic testing products, has entered into a definitive agreement to acquire ThyroTest® and is seeking to close the acquisition as soon as possible.
ThyroTest® is FDA cleared and has also achieved CLIA waived status, so the test can be administered in the more than 100,000 CLIA waived doctors' offices in the U.S., as well as in any non-waived laboratory.
Regarding the acquisition of ThyroTest®, Ms. Leonard stated, "The ThyroTest® product offers a unique opportunity. Its success will be realized through establishing the concept of in-office testing for hypothyroidism. Getting practicing physicians to incorporate a new test into their office routine requires intense, focused effort. Often, large companies, particularly those that operate in multiple markets, manage multiple sales forces and must move quickly to make strategic acquisitions, find that the return-on-investment from building a new opportunity from the ground up is not as attractive as that offered by an accretive acquisition. A single product, even one with the potential of ThyroTest®, can get lost in this environment.
"Having impact on the way a doctor manages a disease state requires exquisite focus. We believe that as a small company CLX Medical can, and will, give ThyroTest® the focused support it needs in order to capture this largely unrecognized and untapped market opportunity.
"We will not be distracted in our pursuit of establishing ThyroTest® as the dominant player in what we expect to be a $1 billion-plus worldwide screening market. We believe that once the product is established and the diagnostic world recognizes the opportunity, we will see other companies launch similar products. That is where being first-to-market comes in as a key strategy. Once other players enter the market, the market grows and the product at the top of it grows exponentially larger and faster than the newcomers. In other words, the pie gets bigger and the first-to-market company continues to enjoy a bigger piece of the bigger pie.
"I hope this brief discussion regarding the potential of ThyroTest® will help CLX Medical shareholders understand why we are so optimistic about the product's potential and why we are so focused on closing this acquisition so our marketing and distribution strategy can be implemented."
ThyroTest® is a qualitative rapid diagnostic test that allows physicians to screen adult patients for hypothyroidism in approximately ten minutes with a whole blood sample.
Hypothyroidism develops when the thyroid gland does not produce enough thyroid hormone to properly regulate the body's metabolism. A lack of thyroid hormone affects many body systems. The incidence of hypothyroidism tends to increase with age, with older people, especially women, at highest risk. Common symptoms include weight gain, fatigue, mood swings, weakness, dry and coarse skin and hair, hair loss, depression, decreased libido, trouble swallowing, increased cholesterol, heavy or irregular periods or trouble getting pregnant.
Approximately 120 million thyroid-related lab tests are performed in the United States each year. At an estimated average cost of $40 per test, the U.S. market is currently valued at nearly $5 billion. Approximately 45 million of those tests are conducted in order to diagnose thyroid dysfunction. CLX believes that ThyroTest® is an appropriate, cost-effective first-step for those 45 million diagnostic TSH tests. This current U.S. market opportunity is amplified by the CLIA waived status, which makes the opportunity to meet American Thyroid Association recommendations for screening every individual at age 35 and every five years thereafter a reality.
To sign up to receive information by email directly from CLX Medical, Inc. when new press releases, investor newsletters, SEC filings, or other information is disclosed, please visit http://www.clxinvestments.com/email.php.
About CLX Medical, Inc.
CLX Medical, Inc. (www.clxmedical.com) holds a 51% equity interest in Zonda, Inc. (www.zondaincusa.com), which has developed several rapid point of care tests for medical and non-medical markets, including a rapid test for chlamydia. CLX has also entered into a definitive agreement to acquire ThyroTest®, a rapid thyroid stimulating hormone (TSH) screening device used for the detection of hypothyroidism in adults, a common thyroid disease. CLX Medical is focused on the successful worldwide distribution of these and any additional products it may acquire or license.
All statements included in this release, including statements regarding potential future plans and objectives of CLX Medical, Inc. are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Medical's control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance.
| Contact: Gemini Financial Communications, Inc. A. Beyer 951-677-8073 |
|
Major Wire Distributions Starting at only $45 and Complete OTCBB Distribution only $249
