SOURCE: Daxor Corp.

Daxor Corp.

August 07, 2013 08:30 ET

Daxor Corporation Announces Receipt of Blood Banking Contract From Prestigious Law Firm Stroock & Stroock & Lavan LLP

NEW YORK, NY--(Marketwired - Aug 7, 2013) - Idant Laboratories, a subsidiary of the medical instrumentation and biotechnology company Daxor Corporation (NYSE MKT: DXR), today announced that it received a blood banking contract from Stroock & Stroock & Lavan LLP. The contract provides for eligible employees of Stroock & Stroock & Lavan LLP to store their own (autologous) frozen blood for future use.

Stroock & Stroock & Lavan LLP is a national law firm providing transactional and litigation guidance to leading multinational corporations, investment banks and private equity firms in the U.S. and abroad. Stroock's emphasis on client service and innovation has made it one of the nation's leading law firms for over 130 years. With offices in New York, Los Angeles and Miami, Stroock is headquartered in New York and is an integral part of Lower Manhattan. Stroock is a firm with more than 750 employees, approximately 600 of whom work at their main office at 180 Maiden Lane. In addition to their New York headquarters, Stroock has offices in Los Angeles, Miami and Washington, DC.

Charles Moerdler, a senior partner of Stroock, Stroock & Lavan stated, "My own experience, and that of my wife, demonstrate how vitally important personal blood storage can be in time of need."

Dr. Ariel Distenfeld, lab director and blood bank director for Daxor's Idant Laboratories division, lost almost 40% of his blood during spinal surgery in 2006 and received his own blood during surgery. Dr. Distenfeld stated, "I was very lucky to have had two units of my own blood stored at Idant to prevent the risk of receiving undetected tainted blood."

Frozen blood stored at 150 degrees below freezing can be used for up to 10 years after collection. Blood banks store donor blood in a refrigerated state slightly above freezing. Red blood cells can be used for up to 42 days after collection. However, studies have shown that there is significant decrease of the effectiveness of the blood cells after 2 weeks of refrigerated storage. In contrast, blood frozen at super low temperatures have similar characteristics to freshly donated blood once it is thawed and processed. The freezing of blood requires special techniques to mix the blood with cryopreservatives under sterile conditions to prevent damage to the red cells. The American Medical Association has specifically stated that the safest blood is one's own.

Daxor Corporation manufactures and markets the BVA-100, which is used in conjunction with Volumex, Daxor's single use diagnostic kit. For more information regarding Daxor Corporation's Blood Volume Analyzer BVA-100, visit Daxor's website at www.Daxor.com.

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