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Adventist Health System, Largest Not-for-Profit Health System in the U.S., Selects Quidel as Flu Test Supplier
QuickVue(R) Brand is Test of Choice for Two Year Partnership Agreement
SAN DIEGO--(BUSINESS WIRE)--Oct. 16, 2007--Quidel Corporation (NASDAQ:QDEL), a leading provider of rapid point-of-care (POC) diagnostic tests, announced today that Adventist Health System has chosen Quidel as its supplier for rapid point of care influenza test kits. The system's clinical advisory committee voted unanimously to utilize the QuickVue Influenza kit throughout its entire system based on clinical and economical values. This partnership agreement will run until September 30th, 2009.
The Adventist system is the largest not-for-profit hospital system in the country serving over four million patients. They serve 36 hospitals in 10 states as well as home health care and long-term care facilities. Commented Celeste West, senior supply chain officer of Adventist Health System, "We thoroughly evaluated several tests and feel confident that the QuickVue rapid influenza test can provide us a way to rapidly identify patients with the flu and treat them appropriately."
"We are honored to have Adventist Health System select our QuickVue test as their first line diagnostic test for the identification of influenza," said Caren Mason, president and CEO of Quidel Corporation. "Their process in selecting the QuickVue test through a protocol based upon clinical comparisons, assures premium care to their patients and is a prime example of how our Quidel Value Build (QVB(TM)) strategy continues to help build our customer base."
According to the Centers for Disease Control (CDC), influenza is responsible for about 36,000 deaths and more than 200,000 hospitalizations in the U.S. each year. The National Foundation of Infectious Diseases, in a report released in September 2007, indicates that influenza can be especially severe for those with high-risk conditions (e.g., diabetes and heart disease), and recent studies have also found that the illness may trigger up to 92,000 cardiac deaths per year nationwide.(1)
About Quidel Corp.
Quidel Corporation serves to enhance the health and well being of people around the globe through the discovery, development, manufacturing and marketing of rapid diagnostic solutions at the point of care (POC) in infectious diseases and reproductive health. Marketed under the leading brand name of QuickVue(R), Quidel's portfolio of products currently includes tests that aid in the diagnosis of several disease or condition states, including influenza, respiratory syncytial virus, Fecal Occult Blood, Strep A, pregnancy, bacterial vaginosis, H. pylori and Chlamydia. Quidel's products are sold to healthcare professionals with a focus on the physician office lab and acute care markets through leading medical distribution partners on a worldwide basis. Quidel's Specialty Products Group (SPG) develops research products in the fields of oncology and bone health with potential future point-of-care applications. By building value in rapid diagnostic tests, Quidel provides leadership to the industry and among healthcare professionals allowing for the movement of patient testing out of the central laboratory setting and into the physician office, urgent care and other outpatient settings where rapid testing and treatment has an impact on clinical outcomes and provides an economic benefit. For more information, visit www.quidel.com, www.flutest.com, or www.colorectal-test.com.
About Adventist Health
Initially established in 1973 to operate Seventh-day Adventist healthcare organizations in the Southern and Southwestern regions of the United States, Adventist Health System (AHS) is now the largest not-for-profit, protestant healthcare system in the United States. Adventist Health System currently operates 36 hospitals totaling more than 6,100 beds, 17 extended-care facilities, and more than 20 home health, hospice, medical equipment, and infusion entities in 10 states. With the mission of "Extending the Healing Ministry of Christ," Adventist Health System touches the lives of more than 4 million patients each year through the care and commitment of more than 43,000 employees and nearly 7,000 physicians on its hospitals' medical staffs. Adventist Health System is headquartered in Winter Park, Florida. For more information, visit the AHS web site at www.adventisthealthsystem.com.
This press release contains forward-looking statements within the meaning of the federal securities laws that involve material risks, assumptions and uncertainties. Many possible events or factors could affect our future financial results and performance, such that our actual results and performance may differ materially. As such no forward-looking statement can be guaranteed. Differences in actual results and performance may arise as a result of a number of factors including, without limitation, seasonality, the length and severity of cold and flu seasons, uncertainty surrounding the detection of novel influenza viruses involving human specimens, adverse changes in the competitive and economic conditions in domestic and international markets, actions of our major distributors, technological changes and uncertainty with research and technology development, including any future molecular-based technology, the reimbursement system currently in place and future changes to that system, manufacturing and production delays or difficulties, adverse actions or delays in product reviews by the U.S. Food and Drug Administration (the "FDA"), intellectual property, product liability, environmental or other litigation, required patent license fee payments not currently reflected in our costs, potential inadequacy of booked reserves and possible impairment of goodwill, and lower-than-anticipated sales or market penetration of our new products. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "expect," "anticipate," "estimate," and similar words, although some forward-looking statements are expressed differently. The risks described under "Risk Factors" in reports and registration statements that we file with the SEC from time to time should be carefully considered. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date of this press release. We undertake no obligation to publicly release the results of any revision or update of the forward-looking statements.
(1) National Foundation for Infectious Diseases, September 20, 2007.
John Radak, Chief Financial Officer
Lippert/Heilshorn & Associates
Don Markley, 310-691-7100
SOURCE: Quidel Corporation