(Source: PrimeNewswire)CHATSWORTH, Calif., Sept. 22, 2009 (GLOBE NEWSWIRE) -- IRIS International, Inc. (Nasdaq:IRIS), a leading manufacturer of automated in-vitro diagnostics systems and consumables for use in hospitals and commercial laboratories worldwide, announced today that it has signed a letter of intent to acquire from its European distributor, The Werfen Group, assets relating to its current distribution of IRIS' products in the UK and Germany. The assets to be purchased consist primarily of customer leases for installed IRIS instruments and service contracts, valued at inventory book value. The parties presently are negotiating a definitive acquisition agreement, and IRIS expects to consummate the acquisition at the end of December 2009.

Cesar Garcia, Chairman, President and Chief Executive Officer of IRIS International, noted, "While modest in size, this acquisition is of strategic importance for IRIS to increase our direct sales presence within our international sales channels, and will serve as a template for further potential deals in opportunistic territories, as well as provide a foundation from which to launch our new product platforms, such as NADiA(R)ProsVue(TM). We will continue to work closely during the transition period with The Werfen Group, whose Instrumentation Laboratories subsidiaries in the UK and Germany will continue to manage and support the installed base of approximately 60 iQ(R)200 instruments in those countries until we close the acquisition. We believe this expansion of direct sales in Europe, combined with the recent announcement of our new distribution partner in Japan, will contribute to our growth in sales and profits in future years."

"We are very pleased with our relationship with The Werfen Group as we have jointly identified this opportunity that will benefit both companies," Mr. Garcia said. "Werfen will continue to represent IRIS in nine countries including Spain, Italy and Mexico," he added.

Thomas E. Warekois, Corporate Vice President and President of the Iris Diagnostics business unit, said, "We currently have the experienced management in place to support this expansion of direct international sales efforts in the European countries. Mr. Alain Richard, who previously managed all sales for IRIS in Europe, the Middle East and Africa, will transition to Director of Direct Sales and will be responsible for IRIS direct sales organizations in France, Germany and the UK. Mr. Richard has been very successful in implementing a direct sales organization for IRIS in France where we have been selling direct since 2005 and reached a significant milestone of more than 100 iQ200 installations earlier this year. In addition, Mr.