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Profile: IDEXX Laboratories Inc (IDXX.O)

IDXX.O on Nasdaq

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13 Jan 2017
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IDEXX Laboratories, Inc., incorporated on December 19, 1983, develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market. The Company's segments include Companion Animal Group (CAG), which develops, designs, manufactures and distributes products and performs services for veterinarians and the bioresearch market, primarily related to diagnostics and information management; Water, which develops, designs, manufactures and distributes a range of products used in the detection of various microbiological parameters in water; Livestock, Poultry and Dairy (LPD), which develops, designs, manufactures and distributes diagnostic tests and related instrumentation, and performs services that are used to manage the health status of livestock and poultry, to expand bovine reproductive productivity and to safeguard the quality and safety of milk and food, and Other, which develops, designs, manufactures and distributes point-of-care electrolyte and blood gas analyzers and related consumable products for the human medical diagnostics market. The Company's products and services are point-of-care veterinary diagnostic products, comprising instruments, consumables and rapid assays; veterinary reference laboratory diagnostic and consulting services; practice management systems and services and digital imaging systems used by veterinarians; biological materials testing, laboratory animal diagnostic instruments and services used by the biomedical research community; diagnostic, health-monitoring and food safety testing products for livestock, poultry and dairy; products that test water for certain microbiological contaminants, and point-of-care electrolytes and blood gas analyzers used in the human point-of-care medical diagnostics market.

Companion Animal Group

CAG provides diagnostic capabilities and information management solutions to veterinarians. IDEXX Diagnostic Advantage provides veterinarians with the tools and services to offer veterinary medical care. CAG includes CAG diagnostics, and customer information management and digital imaging systems. CAG diagnostics include integrated diagnostic information management, in-clinic diagnostic solutions and outside reference laboratory diagnostic and consulting services. Integrated Diagnostic Information Management includes VetConnect PLUS, which is a cloud-based technology that enables veterinarians to access and analyze patients' data from all of the Company's diagnostic modalities. These integrated diagnostic results provide the veterinarian with a visualization of patient-specific testing results. In addition, VetConnect PLUS provides mobile or browser-based access to results, which can be printed or e-mailed to pet owners and other veterinarians. VetConnect PLUS enables veterinarians and practice staff in engaging the pet owner in the patient's care. VetConnect PLUS is available in North America, Australia, New Zealand, Israel and in other countries across Europe. In-clinic diagnostic solutions include its IDEXX VetLab suite of in-clinic chemistry, hematology, immunoassay, urinalysis and coagulation analyzers, and associated consumable products that provide diagnostic results. In-clinic diagnostic solutions also include a range of single-use, handheld IDEXX SNAP rapid assay test kits that provide point-of-care diagnostic test results for a range of companion animal diseases and health conditions. The IDEXX VetLab suite includes instrument systems, as well as associated consumable products. Additionally, the Company offers extended maintenance agreements in connection with the sale of its instruments.

The Company sells blood and urine chemistry analyzers, which include the Catalyst Dx Chemistry Analyzer, the Catalyst One Chemistry Analyzer and the VetTest Chemistry Analyzer. The blood and urine chemistry analyzers are used by veterinarians to measure levels of certain enzymes and other substances in blood or urine for monitoring health status and assisting in diagnosing physiologic conditions. These instruments use consumables manufactured for IDEXX by Ortho-Clinical Diagnostics, Inc. (Ortho) based on Ortho's dry slide technology. In addition, the Catalyst Dx and the Catalyst One analyzers also use dry slide electrolyte consumables manufactured by OPTI Medical Systems, Inc. (OPTI Medical Systems), one of the Company's subsidiaries, and other slides also manufactured by the Company. Blood tests run on these analyzers include glucose, alkaline phosphatase, alanine aminotransferase (ALT), albumin, calcium, creatinine, blood urea nitrogen and total protein, among others. Tests are sold individually and in prepackaged panels. All analyzers also run a urine test called urine protein: creatinine ratio, which assists in the early detection of renal disease. The Catalyst Dx and Catalyst One analyzers run electrolytes, phenobarbital, fructosamine and total thyroxine (T4). Blood and urine chemistry analyzers features include the ability to run a whole blood sample using an on-board centrifuge, the ability to run pre-packaged, multi-slide clips in addition to single chemistry slides and an automated metering system. These analyzers also enable automated dilutions.

The Catalyst Dx analyzer allows a veterinarian to run multiple patient samples simultaneously and both the Catalyst Dx and Catalyst One run different sample types, including whole blood, plasma, serum and urine. In addition, the Catalyst Dx and Catalyst One analyzers run a test to measure phenobarbital levels in blood, allowing veterinarians to adjust anticonvulsant medication. Fructosamine test helps veterinarians to manage canine and feline diabetes mellitus, enabling to assess insulin treatments and adjust insulin dosages. T4 testing assesses and manages thyroid function. The Catalyst One analyzer offers a menu of approximately 30 tests, including tests for thyroid disease, kidney disease, diabetes and therapeutic drug monitoring. The Company also sells the VetLyte Electrolyte Analyzer and the VetStat Electrolyte and Blood Gas Analyzer. The VetStat analyzer runs single-use disposable cassettes that are manufactured by its OPTI Medical Systems business.

The Company sells hematology analyzers that assess the cellular components of blood, including red blood cells, white blood cells and platelets (also called a complete blood count). These analyzers include the ProCyte Dx Hematology Analyzer, the LaserCyte Hematology Analyzer, LaserCyte Dx Hematology Analyzer and the IDEXX VetAutoread Hematology Analyzer. The ProCyte Dx Hematology Analyzer combines laser-flow cytometry, optical fluorescence and laminar-flow impedance in its analysis. The LaserCyte Hematology Analyzer and LaserCyte Dx Hematology Analyzer use laser-flow cytometry technology in their analysis. In addition, the ProCyte Dx Hematology Analyzer, the LaserCyte Dx Hematology Analyzer and the LaserCyte Hematology Analyzer each analyze the components of certain body fluids. The Company also sells the Coag Dx Analyzer, which permits the detection and diagnosis of blood clotting disorders. The ProCyte Dx analyzer provides approximately 30 different blood parameters, including the ability to detect band neutrophils and nucleated red blood cells, for a picture of a patient's health. The ProCyte Dx is validated for over 10 companion animal species, including canine, feline, equine, bovine, ferret, rabbit, gerbil, pig, guinea pig and mini pig.

Immunoassay testing instruments include the SNAP Pro Mobile Device and the SNAPshot Dx Analyzer. The SNAP Pro Mobile Device automatically activates a SNAP test, times the run and captures an image of the result. SNAP Pro Mobile Device allows veterinarians to share the test results on the SNAP Pro Mobile screen or through VetConnect PLUS. In addition, the SNAP Pro Mobile Device ensures that all SNAP test runs are captured and entered into the patient record for customer billing. With multiple-patient testing functionality, the SNAPshot Dx Analyzer provides quantitative measurements of total T4, cortisol and bile acids to assist in the evaluation of thyroid, adrenal and liver function, respectively. The SNAPshot Dx Analyzer also reads, interprets and records the results of many IDEXX rapid assay SNAP tests, including the Company's canine SNAP 4Dx Plus test, feline SNAP FIV/FeLV Combo test, canine SNAP cPL test, feline SNAP fPL test, SNAP Feline Triple test, canine SNAP Heartworm RT test and SNAP Feline proBNP test.

The IDEXX VetLab UA Analyzer provides automated capture of semi-quantitative chemical urinalysis and is validated specifically for veterinary use. The IDEXX VetLab Station (IVLS) connects and integrates the diagnostic information from all the IDEXX VetLab analyzers and provides reference laboratory information management system capability. IVLS connects to the Internet, and in this way enables IDEXX to perform, through its SmartService Solutions wireless services, remote instrument service and software updates to IVLS and certain connected instruments. IVLS also sends all results created on connected instruments instantly to VetConnect PLUS.

The Company offers commercial reference laboratory diagnostic and consulting services to veterinarians across the world, including customers in the United States, Europe, Canada, Australia, Japan, South Africa and South Korea. The Company has reference laboratories in Memphis, Tennessee and Leipzig, Germany. Its reference laboratories offer a range of tests and diagnostic panels to detect disease states and other conditions in animals, including all tests that can be run in-clinic at the veterinary practice with the Company's instruments or rapid assays.

The Company, through customer information management, develops, markets and sells practice management systems, including hardware, software and services that run functions of veterinary clinics, including managing patient electronic health records, scheduling (including for boarding and grooming), client communication, billing and inventory management. Its practice management systems are Cornerstone, DVMAX, Animana and Neo. The Company also supports other practice management systems installed with its customers, including Better Choice, VPM, VetLINK and BeeFree. Its practice management services include Cornerstone Coaching, Practice Profile, Data Backup & Recovery, Payment Solutions and PetDetect boarding collars. In addition, the Company offers client communication and preventive care plan management services. The Company offers Pet Health Network Pro, which is a subscription-based service that permits veterinarians to provide online communication and education to pet owners before, during and after each patient visit. Veterinarians can share VetConnect PLUS testing results directly with pet owners through Pet Health Network Pro.

The Company's digital imaging systems capture radiographic images in digital form. The Company markets and sells digital imaging systems, including IDEXX EliteVision Digital Imaging System, the IDEXX I-Vision CR and the IDEXX I-Vision DR system. IDEXX EliteVision Digital Imaging System is a wireless system, which uses plate technology to capture images. The IDEXX EliteVision Digital Imaging system is promoted for use as a portable unit in ambulatory veterinary practices, such as equine practices. The Company's digital imaging systems employ picture archiving and communication system (PACS) software, IDEXX-PACS, allowing for the viewing, manipulation, management, storage and retrieval of the digital images generated by the digital capture plate.

Water

The Company provides testing solutions for detection and quantification of microbiological parameters in water. The Company's products include the Colilert, Colilert-18 and Colisure tests, which detect the presence of total coliforms and E. coli in water. The Company's water tests are used by government laboratories, water utilities and private certified laboratories to test drinking water in compliance with regulatory standards, including the United States Environmental Protection Agency (EPA) standards. The tests also are used in evaluating water used in production processes, such as beverage and pharmaceutical applications, and in evaluating bottled water, recreational water, wastewater and water from private wells. Its Enterolert products detect the presence of enterococci in drinking, waste and recreational waters. Its Pseudalert products detect the presence of Pseudomonas aeruginosa in pool, spa and bottled water. Its Filta-Max and Filta-Max xpress products are used in the detection of Cryptosporidium and Giardia in water. It also distributes certain water testing kits manufactured by Thermo Fisher Scientific, Inc. Quanti-Tray products, when used in conjunction with the Company's Colilert, Colilert-18, Colisure, Enterolert, Pseudalert or Heterotrophic Plate Count (HPC) products, provide users quantitative measurements of microbial contamination rather than a presence/absence indication. The Company's SimPlate for HPC product detects the total number of the common bacteria in a water sample. The Company also sells consumables, parts and accessories to be used with its water testing products.

Livestock, Poultry and Dairy

The Company's livestock and poultry diagnostic products are purchased by government and private laboratories that provide testing services to cattle, swine and poultry veterinarians, producers and processors. Its livestock and poultry diagnostic products include tests for Bovine Viral Diarrhea Virus (BVDV) and Porcine Reproductive and Respiratory Syndrome (PRRS). The Company also offers pregnancy tests for detecting pregnancy in bovine. Its dairy products use its SNAP test format and are used by dairy producers and processors across the world to detect antibiotic drug residue in milk. Its dairy products include SNAP Beta-Lactam ST, which detects penicillin, amoxicillin, ampicillin, ceftiofur and cephapirin residues, and SNAPduo Beta-Tetra ST, which detects certain tetracycline antibiotic residues in addition to those detected by the SNAP Beta Lactam test kits. It also sells SNAP tests for the detection of certain other contaminants in milk, such as Aflatoxin M1. The Company also distributes the product lines of food safety products that monitor microbial contamination and drug residues for livestock producers, meat exporters and pharmaceutical companies.

Other

The Company's Other segment includes OPTI Medical Systems and other activities. Through OPTI Medical Systems, the Company sells point-of-care analyzers and related consumables for use in human medical hospitals and clinics to measure electrolytes, blood gases, acid-base balance, glucose, lactate, blood urea nitrogen and ionized calcium, and to calculate other parameters, such as base excess and anion gap. These OPTI analyzers are used in emergency rooms, operating rooms, cardiac monitoring areas and other locations where time-critical diagnostic testing is performed within the hospital setting. Its products include OPTI CCA-TS2 Blood Gas and Electrolyte Analyzer, OPTI CCA and OPTI Touch Electrolyte Analyzers. The OPTI CCA-TS2 runs whole blood, plasma and serum samples on single-use disposable cassettes that contain various configurations of analytes. The OPTI LION Stat Electrolyte Analyzer runs single-use electrolyte cassettes. In addition, OPTI Medical Systems manufactures its VetStat analyzer, an instrument and consumable system, and provides the dry slides for electrolyte testing on the Catalyst analyzers for its CAG segment. The Company's other activities include certain drug delivery technologies that the Company seeks to commercialize through agreements with third parties, such as pharmaceutical companies.

The Company competes with VCA Inc., Abaxis, Inc., Heska Corporation and Zoetis Inc., Fujifilm Holdings Corporation, Arkray, Inc., BioNote, Inc., Henry Schein, Radiometer A/S, Siemens Medical Solutions Diagnostics, Instrumentation Laboratory Company, Abbott Laboratories and Roche Diagnostics Corporation.

Company Address

IDEXX Laboratories Inc

1 Idexx Dr
WESTBROOK   ME   04092-2041
P: +1207.5560300
F: +1207.5564346

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