IDEXX Announces Revolutionary Slide-Free Cellular Analyzer, IDEXX inVue Dx™ Transforming In-Clinic Workflows

Rhea-AI Summary

IDEXX Laboratories, Inc. (NASDAQ: IDXX) announces the global launch of the IDEXX inVue Dx™ Cellular Analyzer, a revolutionary slide-free cellular analyzer for cytology and blood morphology cases in veterinary practices. The platform provides reference-laboratory quality results in 10 minutes, eliminating manual workflow and image analysis steps while generating consistent, clinically actionable results for practitioners and their patients.

Insights

Veterinary Technology Expert

The introduction of IDEXX's inVue Dx™ Cellular Analyzer represents a significant innovation in the field of veterinary diagnostics. The integration of AI-powered, slide-free technology is poised to streamline cytology and blood morphology workflows within veterinary practices. This technology eliminates the need for manual slide preparation, which has traditionally been a time-consuming process prone to human error. The analyzer's capability to provide reference-laboratory quality results in 10 minutes is a substantial improvement over the current standard, which can be technique-sensitive and subjective.

The potential for this technology to improve patient outcomes is considerable, as it enables a more thorough and rapid assessment of cytologic changes. The fact that the analyzer examines cells in their natural state and provides multidimensional images could lead to more accurate diagnoses. For veterinary practices, the ability to integrate this analyzer with existing IDEXX systems and tools offers a seamless transition and the possibility of improved charge capture and practice efficiency.

Market Research Analyst

From a market perspective, the launch of the inVue Dx analyzer by IDEXX Laboratories could have a notable impact on the company's market share and competitive positioning. With an estimated 33 million cytology and morphology tests conducted annually in the U.S., the demand for efficient and accurate diagnostic solutions is substantial. IDEXX's innovation addresses a clear market need by reducing the complexity and time required for manual microscopy.

The company's strategy to continuously expand the platform's capabilities, such as the planned expansion to screen lumps and bumps with fine needle aspirate samples, suggests a long-term vision for growth and adaptation to emerging market needs. The ability of this technology to integrate with other IDEXX products could further solidify customer loyalty and create cross-selling opportunities, potentially leading to increased revenue streams for the company.

Financial Analyst

The financial implications for IDEXX Laboratories following the launch of their new inVue Dx analyzer are multifaceted. The initial investment in research and development for such advanced technology likely represents a significant expenditure. However, the potential return on investment is considerable, given the efficiency gains and diagnostic improvements the product promises.

As veterinary practices look to reduce costs and improve patient care, the adoption of the inVue Dx analyzer could lead to an increase in sales for IDEXX. Additionally, the innovative nature of the product may attract new customers and retain existing ones, further strengthening IDEXX's financial position. The market's response to this launch, including adoption rates and the impact on IDEXX's stock price, will be key indicators of the product's success and the company's future financial health.

AI-powered, load-and-go platform has potential to radically shift how veterinarians process, diagnose, and act on cytology and blood morphology cases

The global launch of the IDEXX inVue Dx analyzer will begin in late 2024

WESTBROOK, Maine, Jan. 12, 2024 /PRNewswire/ -- IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, announces the launch of the IDEXX inVue Dx™ Cellular Analyzer, a first-of-its-kind slide-free cellular analyzer to detect the most common cytologic changes found in ear and blood samples. With deep AI learning models trained by IDEXX board-certified pathologists, the in-clinic analyzer provides practitioners with reference-laboratory quality results in 10 minutes. Unlike traditional slide methods, the IDEXX inVue Dx analyzer examines cells in their natural state, providing multidimensional images of sample findings and enabling diagnostic insights like never before.

U.S. veterinary practices run approximately 33 million cytology and morphology tests annually,¹ often relying on manual and cumbersome processes conducted with a microscope. Sample and slide preparation alone can take between 10 and 20 minutes, and conventional microscopy results are often technique-sensitive and open to subjective interpretation. Additionally, approximately two-thirds of IDEXX in-clinic automated hematology tests report abnormal cell counts or other significant findings that would prompt a blood morphology assessment for further investigation. Yet, due to the significant complexity and time required to perform manual microscopy within the practice, this step is often skipped, leading to missing clinical insights that are important for improved patient outcomes. The IDEXX inVue Dx analyzer's innovative, slide-free, load-and-go technology removes today's manual workflow and image analysis steps while generating consistent, clinically actionable results for practitioners and their patients.

"For decades, practitioners like myself have struggled with the inadequacies of slide-based samples and now, with the IDEXX inVue Dx analyzer, the slide-free workflow is a game-changer backed by technology that provides the confidence we need to provide an accurate diagnosis for our patients," said Guillermo Couto, DVM, DACVIM (SAIM, Oncology).* "Additionally, when paired with the ProCyte Dx^® or ProCyte One^® hematology analyzer, the IDEXX inVue Dx analyzer will provide rapid analysis of blood cell morphology, aiding veterinarians to arrive at a diagnosis almost instantly."

The IDEXX inVue Dx analyzer's point-of-care platform features and benefits include the following:

• Seamless, slide-free workflow that virtually eliminates manual steps and removes variability to provide consistent analysis of measurement for ear cytology and blood morphology, including rechecks.
• A multidimensional (3-D) assessment of cells that produces high-contrast images of cells unable to be seen under a microscope, resulting in deeper diagnostic results and faster, more confident next steps.
• Automated blood morphology for identifying and quantifying common red blood cell, white blood cell, and platelet morphologic changes during the patient visit. The IDEXX inVue Dx analyzer provides the most comprehensive and efficient hematology picture available in the clinic when used together with IDEXX's ProCyte Dx or ProCyte One automated hematology analyzer.
• Deep AI learning models trained by IDEXX board-certified pathologists from over ten million patient sample images for real-time answers with trusted accuracy in 10 minutes.
• Integration with IDEXX's suite of point-of-care analyzers, practice management systems, and VetConnect^® PLUS, powered by the IDEXX VetLab^® Station. This ecosystem of advanced technology, tools, and experts helps veterinarians interpret results, determine next steps, and facilitate seamless charge capture.
• Continuous platform menu expansion that demonstrates IDEXX's Technology for Life strategy. The IDEXX inVue Dx platform's capabilities will grow over time, with expansion to screening lumps and bumps with fine needle aspirate samples planned next.

"Veterinary professionals are exceedingly busy and are eager for ways to increase capacity," said Jay Mazelsky, President and Chief Executive Officer of IDEXX. "We strive to be at the forefront of practice-changing innovation, and the IDEXX inVue Dx analyzer is our latest cutting-edge solution that creates efficiencies, provides deeper clinical insights, and increases practitioners' confidence in their patients' diagnoses and treatment plans."

For more information, please visit the IDEXX inVue Dx Cellular Analyzer page.

About IDEXX
IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500® Index. Headquartered in Maine, IDEXX employs nearly 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit: www.idexx.com.

Note Regarding Forward-Looking Statements
This news release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "may," "anticipates," "intends," "would," "will," "plans," "believes," "estimates," "should," "project," and similar words and expressions. These forward-looking statements are intended to provide our current expectations or forecasts of future events; are based on current estimates, projections, beliefs, and assumptions; and are not guarantees of future performance. Actual events or results may differ materially from those described in the forward-looking statements. These statements are subject to risks, uncertainties, assumptions, and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by IDEXX pursuant to United States securities laws contain discussions of some of these risks and uncertainties. IDEXX assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are advised to review IDEXX's filings with the United States Securities and Exchange Commission (which are available from the SEC's EDGAR database at sec.gov and via IDEXX's website at idexx.com).

Contact
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media@idexx.com

Investor Relations
investorrelations@idexx.com

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¹Data on file at IDEXX Laboratories, Inc. Westbrook, Maine USA: 2019 Microscopy Utilization Study rates from 175 U.S. practices.
*Dr. Couto has received compensation for consulting services he has provided to IDEXX from time to time.

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SOURCE IDEXX Laboratories, Inc.

FAQ

What is the IDEXX inVue Dx Cellular Analyzer?

The IDEXX inVue Dx Cellular Analyzer is a slide-free cellular analyzer for cytology and blood morphology cases in veterinary practices. It provides reference-laboratory quality results in 10 minutes.

What are the benefits of the IDEXX inVue Dx Cellular Analyzer?

The platform offers a seamless, slide-free workflow, multidimensional assessment of cells, automated blood morphology, deep AI learning models, and integration with IDEXX's suite of point-of-care analyzers and practice management systems.

When will the global launch of the IDEXX inVue Dx analyzer begin?

The global launch of the IDEXX inVue Dx analyzer will begin in late 2024.

Who is the President and Chief Executive Officer of IDEXX?

The President and Chief Executive Officer of IDEXX is Jay Mazelsky.

What is the ticker symbol for IDEXX Laboratories, Inc.?

The ticker symbol for IDEXX Laboratories, Inc. is IDXX.