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Olympus and Spectra Renal Management Sign Multi-Year Agreement


New Diagnostic Systems Standardize Workflow and Processing Across U.S.

Melville, NY, December 3, 2003 - Olympus America Inc. and Spectra Renal Management, a division of Fresenius Medical Care North America, have signed a multi-year exclusive agreement for Olympus automated chemistry systems. Spectra Renal Management, one of the nation's leading providers of clinical laboratory testing, will use the systems to consolidate and standardize testing in its commercial reference laboratories throughout the U.S.

Under the agreement Spectra Renal Management has acquired Olympus AU5431™ analyzers, along with Olympus reagents, consumables, parts, service and technical support, for use throughout its laboratory network. The AU5431 analyzers enable laboratories to perform high-speed, high-throughput clinical chemistry testing. The systems automate and consolidate chemistry-immuno testing, and are being used to process an estimated 25 million reportable general chemistries per year for Spectra Renal Management. Special chemistries are also included in a separate agreement.

As part of the contract, Olympus is providing monthly management reports and sending technical personnel into the laboratories to consult with laboratory directors, system operators and other staff in a joint effort to improve operating efficiency and manage costs.

"We're proud to have been chosen as a high-quality, cost-effective solution for Spectra, just as we have been for so many hospitals and commercial laboratories," said Stephen Wasserman, Group Vice President, Olympus Diagnostic Systems Group. "Spectra Renal Management's objective was to consolidate all the general chemistries, special chemistries, urinalysis, PD fluid, and pre- and post-dialysis testing onto a single system. Spectra Renal Management also wanted to standardize work flow and processing across the country and will be able to achieve all these objectives cost-effectively with Olympus systems."

"The AU5431 is an exceptional product that allows us to stand out with clients by giving us superior quality control," said Chinu Jani, Spectra Renal Management's General Manager and Vice President of Operations. "The Olympus equipment is fast, accurate and very cost effective. Additionally, the Olympus support - from top management all the way through sales and tech support in Dallas - is outstanding."

About Olympus Diagnostic Systems Group
Since 1981, Olympus Diagnostic Systems Group has provided innovative solutions that meet the high productivity demands of hospitals, integrated healthcare delivery networks, reference labs, blood banks and pharmaceutical labs. Offering the broadest standardized line of random access, chemistry-immuno analyzers and lab automation systems, Olympus' solutions save laboratories time, maximize productivity and deliver fast, reliable results.

About Olympus
Olympus is a precision technology leader, designing and delivering innovative solutions in healthcare and consumer electronics worldwide.

Olympus works collaboratively with its customers and its parent company, Tokyo-based Olympus Corporation, to leverage R&D investment in precision technology and manufacturing processes across diverse business lines. These include:

  • Gastrointestinal endoscopes, accessories, and minimally invasive surgical products;
  • Advanced clinical and research microscopes;
  • Lab automation systems, chemistry-immuno and blood bank analyzers and reagents; and
  • Digital and film cameras, and digital voice recorders.

In the U. S. and Canada, Olympus serves healthcare, scientific and commercial laboratory markets with integrated product solutions and financial, educational and consulting services that help customers efficiently, reliably, safely, and easily achieve superior results. Olympus is the leader in gastrointestinal endoscopy and clinical and educational microscopes. The company's market-leading consumer electronics business spans North and South America. For more information, visit www.olympusamerica.com.

About Spectra Renal Management
Spectra Renal Management, with laboratories in Rockleigh, NJ and Fremont, CA., is the world's largest End Stage Renal Disease laboratory, providing high quality laboratory and renal services for over 100,000 patients with kidney disease. Kidney failure affects over 250,000 patients in the United States. In addition, due to conditions such as diabetes and high blood pressure, there will be over 20,000 new cases of kidney failure requiring treatment next year. The primary treatment option for people with kidney failure is kidney dialysis, the process of filtering the blood when the kidneys are no longer able to perform this vital function. Spectra Renal Management focuses exclusively on this patient population and their unique laboratory testing needs. A division of Fresenius Medical Care North America, SRM provides specialized testing, analysis and reports for physicians, clinics and hospitals treating ESRD patients.

This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in the Fresenius Medical Care Holdings, Inc. reports filed with the U.S. Securities and Exchange Commission. Spectra Renal Management does not undertake any responsibility to update the forward-looking statements contained in this release.