Lawrence Siebert, Chembio's Chief Executive Officer, commented, "This agreement with Labtest represents a second distribution arm for our branded DPP® products in the sizeable Brazilian point-of-care diagnostic market. We are delighted to be working with Labtest, as they are well-regarded as a leading diagnostics manufacturer and marketer with high quality services and far reaching distribution. We look forward to a long and successful collaboration."
Labtest is the largest Brazilian in vitro diagnostic company that is owned by Brazilian nationals. It is located in Lagoa Santa, Metropolitan area of Belo Horizonte/MG, and it occupies more than twelve thousand square meters with its facility and headquarters. Labtest develops, produces and sells more than a million kits of reagents per year. Its range of products has a large line of reagents and equipment for several sizes of clinical laboratories. It started in 1971, when it was founded by two clinical pathologist doctors, Geraldo Lustosa, MD, and José Carlos Basques, MD. Labtest has become known for its pioneering attitudes and for scientific innovations since then, as it was the first Brazilian company to produce reagents containing enzymes and to launch products with stable liquid technology. Labtest currently is run by Dr. Eliane Lustosa and it operates in each of the 26 Brazilian States, in Latin America, and in other countries around the world. It is nationally and internationally certified and recognized, not only for its scientific and methodological accuracy, but also for its respect towards its clients. Its staff consists of more than 190 employees, 15% of which are involved exclusively in research and development. Labtest's successful trajectory is highlighted by the continuous improvement of its products and services, always searching for more and more effective solutions for clinical laboratories in Brazil and all over the world.
Labtest has recently launched two new subsidiaries, CDICT and Audlab. CDICT leads all R&D activities of Labtest Group and Audlab is a manufacturer of diagnostic automation equipment in Brazil. These companies were spun out of the R&D and equipment departments of Labtest, respectively, and are expected to foster collaborations worldwide in order to sell products in the Brazilian and Latin American Market.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts