SOURCE: Addison-Davis Diagnostics, Inc.

June 12, 2006 13:45 ET

Addison-Davis Diagnostics, Inc. Announces PharTech Distribution Agreement

WESTLAKE VILLAGE, CA -- (MARKET WIRE) -- June 12, 2006 -- Addison-Davis Diagnostics, Inc. (OTCBB: ADSD) is pleased to announce the signing of a distribution agreement with PharTech Solutions, Inc. ("PharTech") to make its DrugStop product available through PharTech's telecommunications networks to medical offices and small to medium sized businesses nationwide.

Addison-Davis CEO Charles Miseroy says, "I believe that this association, introducing a direct-market medium, should further expand the sources to which Drug Stop may be sold." PharTech provides already-established relationships with business and institutional accounts.

About Drugstop:

Food and Drug Administration ("FDA") 510(k) cleared, DrugStop is a completely self-contained and self-regulating, on-site drug testing product that uses a rapid immunoassay for the qualitative detection of drug metabolites in urine. Drugstop eliminates specimen exposure, reduces the chances of complications in handling, and is the only test available that does not require processing once the sample is collected. Drugstop is designed for human resource professionals for testing a number of different types of drugs including amphetamines, cocaine, opiates, phencyclidine, and cannabinoids.

About PharTech Solutions, Inc.:

PharTech Solutions, Inc. is a Florida based software marketing company involved in marketing medical related products and has recently established a tele-marketing capability. Their access to medical offices and small businesses provides an excellent entry point for the Drug Stop product.

About Addison-Davis:

Addison-Davis is currently focused on supplying quick response diagnostic tests for drugs of abuse that are user friendly, produce fast simple results and are less costly, less problematic and less time consuming through the use of its technology to healthcare professionals, governmental agencies and the workplace environment for drugs-of-abuse. For more information about Addison Davis Diagnostics, Inc visit: http://www.addisondavis.com

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that if they never materialize or prove incorrect, could cause the results of Addison-Davis Diagnostics, Inc. to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the reports filed by Addison-Davis Diagnostics, Inc. with the Securities and Exchange Commission. Addison-Davis Diagnostics, Inc. assumes no obligation and does not intend to update these forward-looking statements.

Contact Information

  • For additional information please contact:
    Kyle Withrow
    805.494.7838