Avitar (CE) (USOTC:AVTI)
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From Jan 2020 to Jan 2025
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.