SOURCE: Trinity Biotech

Trinity Biotech

March 04, 2009 10:01 ET

Trinity Biotech Announces Its First 3 Destiny Max Placements in the United Kingdom

DUBLIN, IRELAND--(Marketwire - March 4, 2009) - Trinity Biotech plc (NASDAQ: TRIB), a leading developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, today announced its first placements of Destiny Max instruments in the UK market.

Trinity Biotech announced that it had placed its first three Destiny Max instruments at two customers sites in the United Kingdom. During this quarter Trinity has also sold a further four instruments in the Far East bringing the total sold or placed since its launch to 12.

Commenting on the recent Destiny Max placements Ronan O'Caoimh, CEO of Trinity Biotech said "We are delighted to have placed our first instruments in the United Kingdom. The UK represents one of our principal target markets and winning these customers is consistent with the enthusiastic reception that the instrument has been receiving from both existing and potential customers. I am also particularly pleased that, in addition to the UK, we have already made sales in such a wide range of countries including Japan, China, Italy, and Ireland".

Mr. O'Caoimh continued "we believe Destiny Max with its significant competitive advantages will compete well in the $500 million high throughput haemostasis market worldwide. Today's news confirms that our robust product launch plans across Europe and Asia are underway and illustrates what we believe will be a significant contribution to Trinity's compelling value proposition. Furthermore, the initial successes in the UK and other European and Asian markets auger extremely well for the launch of Destiny Max in the USA later this year".

Destiny Max is Trinity Biotech's new high throughput haemostasis analyzer which was launched in all markets outside the USA in December 2008. Trinity has filed a submission for FDA approval of this analyzer, which is expected to be received in the second half of 2009. Following FDA approval this product will be immediately launched in the USA. This analyzer is specifically targeted at high throughput customers which account for approximately 50% of worldwide haemostasis revenues. To date Trinity has not addressed this segment of the market and thus the launch of Destiny Max represents a key strategic growth platform for the Company.

Forward-looking statements in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development commercialisation and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission.

Trinity Biotech develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market. The products are used to detect infectious diseases and blood coagulation disorders, and to quantify the level of Haemoglobin A1c and other chemistry parameters in serum, plasma and whole blood. Trinity Biotech sells direct in the United States, Germany, France and the U.K. and through a network of international distributors and strategic partners in over 75 countries worldwide. For further information please see the Company's website: www.trinitybiotech.com.

Contact Information

  • Contact :

    Trinity Biotech plc
    Niamh Long
    (353)-1-2769800
    E-mail: Email Contact

    Lytham Partners LLC
    Joe Diaz, Joe Dorame & Robert Blum
    602-889-9700