Clarient Announces $8 Million Accounts Receivable Financing Agreement With Gemino...

Clarient Announces $8 Million Accounts Receivable Financing Agreement With Gemino Healthcare Finance

ALISO VIEJO, Calif.--(Business Wire)--
Clarient, Inc. (Nasdaq:CLRT), a premier anatomic pathology and
molecular testing services resource for pathologists, oncologists, and
the pharmaceutical industry, today announced it has completed a
financing arrangement with Gemino Healthcare Finance. This new
agreement consists of a senior secured revolving credit facility
pursuant to which Clarient may borrow up to $8 million, subject to
adjustment based on the amount of Clarient's qualified accounts
receivable and certain liquidity factors.

Ron Andrews, Clarient's Chief Executive Officer, said, "This
financing is an important step in our capital structuring process
geared towards establishing a solid capital foundation to support
continued growth of our cancer services business. We are pleased to be
able to partner with a company like Gemino, which has a strong
understanding of the healthcare industry."

Under the facility, Clarient has drawn proceeds of $5.0 million
based on its current qualified accounts receivable. The initial term
of the facility runs through January 31, 2009. The facility may be
renewed for two additional one-year periods, subject to satisfaction
of certain conditions. The proceeds will be used to pay down
borrowings under Clarient's mezzanine financing facility with
Safeguard Scientifics, Inc.

"Clarient's success in cancer diagnostics has been through the
dedication and support of the experienced management team and
employees," said Mike Gervais, Gemino Healthcare Finance's Chief
Executive Officer. "We are excited to have closed this transaction
with Clarient, and we look forward to continuing to provide them with
the resources they need to achieve their goals."

About Clarient

Clarient combines innovative diagnostic technologies with world
class expertise to assess and characterize cancer. Clarient's mission
is to become the leader in cancer diagnostics by dedicating itself to
collaborative relationships with the healthcare community to translate
cancer discovery and research into better patient care. The Company's
principal customers include pathologists, oncologists, hospitals and
biopharmaceutical companies. The rise of individualized medicine as
the new direction in oncology has created the need for a centralized
resource providing leading diagnostic technologies such as flow
cytometry and molecular testing. Clarient is that resource, having
created a state-of-the-art commercial cancer laboratory providing the
most advanced oncology testing and diagnostic services available both
onsite and over the web. The Company is also developing new,
proprietary "companion" diagnostic markers for therapeutics in breast,
prostate, lung and colon cancers, and leukemia/lymphoma. Clarient is a
Safeguard Scientifics, Inc. partner company. www.clarientinc.com

About Gemino Healthcare Finance

Gemino provides senior loans to healthcare service providers
throughout the U.S., with typical financing needs ranging from $1
million to more than $15 million in the form of revolving lines of
credit, secured-term loans, unsecured-term loans and real-estate
financing. Gemino provides financing to hospitals, skilled nursing
homes, home care and hospice agencies, imaging centers,
surgical/outpatient centers, distributors, transportation companies
and others involved in the delivery or support of healthcare services.
www.gemino.com

About Safeguard

Founded in 1953 and based in Wayne, PA, Safeguard Scientifics,
Inc. (NYSE:SFE) provides growth capital for entrepreneurial and
innovative technology and life sciences companies. Safeguard targets
technology companies in Software as a Service (SaaS) / Internet-based
Businesses, Technology-Enabled Services and Vertical Software
Solutions, and life sciences companies in Molecular and Point-of-Care
Diagnostics, Medical Devices and Specialty Pharmaceuticals with
capital requirements between $5 and $50 million. Safeguard
participates in expansion financings, corporate spin-outs, management
buyouts, recapitalizations, industry consolidations and early-stage
financings. www.safeguard.com

Forward-Looking Statements

The statements herein regarding Clarient, Inc. (the "Company")
contain forward-looking statements that involve risks and uncertainty.
Future events and the Company's actual results could differ materially
from the results reflected in these forward-looking statements.
Factors that might cause such a difference include, but are not
limited to: the Company's ability to continue to develop and expand
its diagnostic services business, the Company's ability to expand and
maintain a successful sales and marketing organization, the Company's
ability to maintain compliance with financial and other covenants
under the Gemino facility and its other credit facilities, limitations
on the Company's ability to borrow funds under the Gemino credit
facility based on the Company's qualified accounts receivable and
other liquidity factors, the Company's ability to obtain annual
renewals of the Gemino facility, the effects of a going concern audit
opinion on the Company's operations, the Company's ability to
successfully transition its billing function in-house from a third
party vendor, whether the conditions to payment of all or any portion
of the contingent consideration from the Company's sale of its
instrument systems business to Zeiss are satisfied, the Company's
ability to remediate the material weaknesses in the Company's internal
control over financial reporting, the continuation of favorable third
party payer reimbursement for laboratory tests, the Company's ability
to obtain additional financing on acceptable terms or at all,
unanticipated expenses or liabilities or other adverse events
affecting cash flow, uncertainty of success in identifying and
developing new diagnostic tests or novel markers, the Company's
ability to fund development of new diagnostic tests and novel markers
and the amount of resources the Company determines to apply to novel
marker development and commercialization, failure to obtain FDA
clearance or approval for particular applications, the Company's
ability to compete with other technologies and with emerging
competitors in novel cancer diagnostics and dependence on third
parties for collaboration in developing new tests, and risks detailed
from time to time in the Company's SEC reports, including quarterly
reports on Form 10-Q, reports on Form 8-K and annual reports on Form
10-K. Recent experience with respect to laboratory services, revenues
and results of operations may not be indicative of future results for
the reasons set forth above.

The company does not assume any obligation to update any
forward-looking statements or other information contained in this
document.

Lippert/Heilshorn & Associates
Don Markley, 310-691-7100
dmarkley@lhai.com

Copyright Business Wire 2008