Vancouver's Response Biomedical Corp. (TSC: RBM) (OTCBB: RPBIF) has entered into a distribution agreement with Laboratory Supply Company, Inc. (LABSCO) in Louisville, Kentucky, to distribute cardiovascular products in the U.S. to hospitals with fewer than 150 beds.
LABSCO is the largest privately held distributor of clinical lab products in the U.S.
"This is a very important agreement for Response as it marks a significant step into the U.S. market for POCT [point-of-care testing] in the cardiovascular areana, which is one of the largest markets in the world," said Tim Shannon, Response Biomedical Corp.'s senior vice-president of worldwide sales and marketing.
"LABSCO has the experience and reputation to maximize our efforts to gain traction and to help us penetrate a market that we believe will greatly enhance our growth in the near term and beyond."
The POCT market in the U.S. is worth an estimated $3.1 billion.