Management Discusses Strategies for Meeting 2001 Goals; Demonstrates
Cutting-Edge Products
TUCSON, Ariz., Feb. 16 /PRNewswire/ -- Ventana Medical Systems, Inc.
(Nasdaq: VMSI), a leading supplier of automated instrument reagent systems to
histology and drug discovery labs worldwide, held a meeting for investment
professionals on Friday, February 9, 2001. Management gave presentations on
existing products and those in the pipeline, sales and marketing strategy, and
development and manufacturing procedures, all of which are aimed at helping
the company achieve its 2001 goals of increasing revenues between 25 and 30
percent and returning to operating profitability. The material portions of
these presentations have been the subjects of prior press releases.
"Our objective that day was to demonstrate that we have the people and
products to deliver on our stated goals," said Christopher Gleeson, Ventana's
president and chief executive officer. "We have set clear targets for our
management team, not only in terms of sales, but also in terms of
profitability and customer satisfaction. The team spent considerable time
discussing how we intend to accomplish our goals in 2001 and take advantage of
further opportunities beyond that."
Product demonstrations included the company's recently launched BenchMark,
a highly advanced, high-throughput system that is the only product on the
market that automates both immunohistochemistry and in-situ hybridization
slide staining on one instrument platform, and the Discovery, a system that
meets the pressing need for automating the process of staining nucleic acid
microarrays for the rapidly expanding drug discovery market. Attendees were
able to look under a microscope to see the results from running
cancer-detection tests with Ventana products. Regarding chemistry
applications for the Discovery, the company's goal is to launch its first
consumable product, an application for DNA microarrays, by the end of the
second quarter.
The attendees also toured the company's current manufacturing and research
and development facilities, and were taken to Ventana's new campus, which is
currently under construction. When the new campus is complete later this
year, it will consolidate five different research and development,
manufacturing, commercial and administrative locations that are currently
spread throughout Tucson.
This news release contains certain "forward-looking" statements and
information within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements, by their very nature, include risks and uncertainties.
Accordingly, the company's actual results could differ materially from those
discussed in this release. A wide variety of factors could cause or
contribute to such differences and could adversely impact revenues,
profitability, cash flows and capital needs. Such factors, many of which are
beyond the control of the company, include the following: market acceptance of
new automated histology products, continued success in asset management,
continued improvements in our manufacturing efficiencies, on-schedule launches
of our new products, currency exchange rate variability, competition and
competitive pressures on pricing and general economic conditions in the United
States and in the regions served by the company. A more complete listing of
cautionary statements and risk factors is contained in the company's report on
Form 10-K for the year ended Dec. 31, 1999, filed with the Securities and
Exchange Commission.
Ventana develops, manufactures and markets instrument/reagent systems that
automate tissue preparation and slide staining in clinical histology and drug
discovery laboratories worldwide. Ventana's clinical systems are important
tools used in the diagnosis and treatment of cancer and infectious diseases.
Ventana's drug discovery systems are used to accelerate the discovery of new
drug targets and evaluate the safety of new drug compounds.
For more information on Ventana Medical Systems, Inc. via facsimile at no
additional cost, simply dial 1-800-PRO-INFO and enter the stock symbol "VMSI."
Visit the Ventana Medical Systems, Inc. website at
http://www.ventanamed.com .
The Molecular Discovery Systems Division has its own website at
http://www.ventanadiscovery.com .
SOURCE Ventana Medical Systems, Inc.
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Related links:
http://www.ventanamed.com
CONTACT:
Christopher Gleeson, President and CEO,
520-690-3557, or Nick Malden, CFO, 520-690-2794, both of Ventana;
Analysts, Kathy Brunson of The Financial Relations Board,
312-640-6696
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