Avitar's Technology to be Used by Egyptian Government
January 07 2008 - 11:46AM
Business Wire
Avitar Inc. (�AVTI�) (OTCBB:AVTI), manufacturers of nationally
branded oral fluid testing diagnostic devices and customized
polyurethane applications used in wound dressings, announced today
that the Company�s ORALscreen rapid test for drugs-of-abuse and
electronic reader has been approved by the Egyptian Government to
be initially deployed by the Ministry of Tourism. Avitar�s random
on-site drug screening technology will be used to test all tour bus
drivers, travel agents, and related personnel. Peter Phildius,
Avitar�s Chairman and CEO said, �Egypt represents a significant
business opportunity for Avitar. While we have previously focused
our attention on the $1.5B existing market in the United States, we
also must recognize the demand for our products world-wide. Egypt�s
population of 75 million is growing twice as fast as the US. The
ORALscreen program is important to the Egyptian government�s
expanding efforts to address substance abuse in its society. Avitar
will seize upon this opportunity to increase its reach in overseas
markets, which currently represent approximately 10% of sales
revenue.� Avitar�s positioning as a consultative drug-free
workplace technology and services provider, plays a central role in
the model for convergence and integration efforts of its Egyptian
business partners, the Ministry of Health, the Ministry of Tourism
and the Ministry of the Interior. About Avitar, Inc. Avitar Inc.
develops, manufactures and markets innovative proprietary products.
Markets include fluid diagnostics, disease and clinical testing,
and customized applications for wound dressings. Principal products
include ORALscreen�, (the first non-invasive, rapid, onsite oral
fluid test for drugs-of abuse), and Hydrasorb�, (an absorbent
topical dressing for moderate to heavy exudating wounds). Avitar is
also developing diagnostic strategies for disease and clinical
testing in the estimated $25 billion in-vitro diagnostics market.
Conditions targeted include influenza, diabetes, and pregnancy. For
more information, see Avitar's website at http://www.avitarinc.com.
Avitar Inc. is a fully reporting company whose stock trades on the
OTCBB under the symbol �AVTI.OB�. For information, contact Investor
Relations 781-821-2440 - Peter Cholakis, VP � Marketing.
Forward-Looking Statements This release contains forward-looking
statements that are subject to risks and uncertainties including
the development and marketing of new applications and other risks
that are detailed from time to time in the Company�s filings with
the Securities and Exchange Commission. In view of such risks and
uncertainties, the Company�s actual results could differ materially
from those anticipated in such forward-looking statements.
Avitar (CE) (USOTC:AVTI)
Historical Stock Chart
From Nov 2024 to Dec 2024
Avitar (CE) (USOTC:AVTI)
Historical Stock Chart
From Dec 2023 to Dec 2024
Real-Time news about Avitar Inc (CE) (OTCMarkets): 0 recent articles
More Avitar Inc. News Articles