ERBA Diagnostics Enters Brazilian Market; Offers In Vitro Diagnostics to Hospitals, Testing Labs And Physicians Clinics

ERBA Diagnostics, Inc. (NYSE MKT:

) today announced its fully integrated portfolio of in vitro diagnostics platforms and reagents for Hematology and Clinical Chemistry are now available to hospitals, references labs and physician clinics in Brazil. ERBA Diagnostics' product line includes a comprehensive suite of instruments, reagents and kits for immunology, clinical chemistry, hematology, diabetes and infectious disease testing. ERBA Diagnostics intends to introduce its full suite of products to hospitals, references labs and physician clinics in Brazil as the product registrations in Brazil are completed. "We believe that our line of products is ideally suited to address the rapidly growing medical needs for Brazil," said Mohan Gopalkrishnan, chief executive officer of ERBA Diagnostics. "Within Brazil, there is a predominance of smaller, local healthcare providers. We expect that our proprietary instruments and reagents will allow these providers access to the latest diagnostics at a scale and price point that serves their needs. Our initial experience in Brazil during the past three months has been encouraging and we look forward to expanding the number of clinics and hospitals we serve, as we continue to register the full suite of our products in Brazil." The estimated market for in vitro diagnostics products in Brazil was approximately U.S. $1.0 billion 2012 and is expected to grow to U.S. $1.4 billion by 2017, far exceeding the rate of growth in the world market for in vitro diagnostics products. Brazil has a population of 200 million people and the country is undergoing a rapid expansion of the elderly and middle class. These factors are contributing to the increased demand for clinical testing at both public and private healthcare providers as a means to inform treatment, improve outcomes and reduce overall healthcare expenditures. "Given our commitment to Brazil, and as part of our continued effort to streamline our operations, we are evaluating opportunities to establish local manufacturing capabilities," added Mr. Gopalkrishnan. "We believe that establishing manufacturing capabilities in Brazil will ultimately allow us to operate as efficiently as possible while simultaneously positioning us to best serve the diagnostic testing needs of the country's healthcare providers."