Response Biomedical Corp.
TSX : RBM

Response Biomedical Corp.

April 07, 2016 17:25 ET

Response Biomedical Corp. Awarded Capital Equipment Supplier Contract by Vizient, Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 7, 2016) - Response Biomedical Corp. ("Response" or the "Company") (TSX:RBM) (OTC:RPBIF), a commercial stage in-vitro medical device company with products for the laboratory and point of care markets, today reported that it has been awarded a three-year Capital Equipment Supplier Contract with Vizient, Inc. for Response's cardiovascular and infectious disease product lines.

Vizient, the largest member-owned health care company in the United States, serves a diverse membership and customer base including academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers. The new contract offers savings to those Vizient members who had access to the Novation contracts for Response's innovative RAMP® platform with tests for key cardiac care markers such as Troponin I, NT-proBNP and tests for infectious diseases such as Influenza A&B.

"Response is very pleased to be working with Vizient," said Dr. Barbara Kinnaird, Chief Executive Officer of Response. "Through this partnership, Response will gain direct access to a very large number of target customers in the United States. Vizient provides a gold standard approach to cost performance and contract terms resulting in a positive customer experience by simplifying the contract process and streamlining the supply chain between members and suppliers," added Dr. Kinnaird.

About Response Biomedical Corp.

Response develops, manufactures and markets rapid on-site diagnostic tests for use with its RAMP® platform for clinical, biodefense and environmental applications. RAMP® represents a unique paradigm in diagnostics that provides reliable, quality results in minutes. The RAMP® Platform consists of a reader and single use disposable test cartridges and has the potential to be adapted to any other medical and nonmedical immunoassay based test currently performed in laboratories. Response clinical tests are commercially available in the United States for the aid in early detection of heart attack, heart failure, influenza A and B, and RSV. In the non-clinical market, RAMP® tests are currently available for the environmental detection of West Nile Virus and Dengue Fever and for Biodefense applications including the rapid onsite detection of anthrax, smallpox, ricin and botulinum toxin. Response is a publicly traded company listed on the TSX under the trading symbol "RBM" and quoted on the OTC under the symbol "RPBIF". For further information, please visit the Company's website at www.responsebio.com.

Forward-Looking Statements

This press release may contain forward-looking statements. These statements relate to future events and are subject to risks, uncertainties and assumptions about Response Biomedical Corp. Examples of forward-looking statements in this press release include statements regarding our belief that the new contract savings to those Vizient members who had access to the Novation contracts for Response's innovative RAMP® platform with tests for key cardiac care markers such as Troponin I, NT-proBNP and tests for infectious diseases such as Influenza A&B and that we will gain direct access to a very large number of target customers in the U.S. through this partnership. These statements are only predictions based on our current expectations and projections about future events. Although we believe the expectations reflected in such forward-looking statements, and the assumptions upon which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct and if such expectations are not met, our business may suffer.

Readers should not place undue reliance on these statements. Actual events or results may differ materially. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Many factors may cause the Company's actual results to differ materially from any forward-looking statement, including the factors detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our annual report on Form 10-K, our quarterly reports on Form 10-Q, our Current Reports on Form 8-K, our Annual Information Form and other filings with the Securities and Exchange Commission and Canadian securities regulatory authorities.

The forward-looking statements contained in this news release are current as of the date hereof and are qualified in their entirety by this cautionary statement. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Response Biomedical Corp.
    Dr. Barbara Kinnaird
    604-456-6010
    Chief Executive Officer
    ir@responsebio.com