Abaxis
{{short description|American medical technology company}}
{{Infobox company
| name = Abaxis
| logo = Abaxis logo.jpg
| type =
| industry = Medical technology
| fate = defunct
| predecessor =
| successor =
| founded = {{Start date and age|1989|04}} in Mountain View, California, United States
| founders = Gary H. Stroy
Vladimir E. Ostoich
Richard Leute
| defunct = {{End date|2018|07|31}}
| hq_location_city = Union City, California
| hq_location_country = United States
| area_served =
| key_people = Richard K. Leute
| products = VetScan
Piccolo
| owner =
| num_employees = 580+
| num_employees_year = 2018
| parent = Zoetis
| website = {{URL|https://www.abaxis.com/}}
}}
Abaxis was an American medical technology company that specialized in point-of-care blood testing for both human and veterinary purposes. It is noted for its attempt at developing a portable blood analyzer that can immediately yield data for doctors.{{Cite news |title=Abaxis Inc. |language=en-US |work=The New York Times |url=https://www.nytimes.com/topic/company/abaxis-inc |access-date=2022-08-17 |issn=0362-4331}}
History
Abaxis was founded by Gary H. Stroy, Richard Leute, and Vladimir E. Ostoich in April 1989. It was founded to develop a machine capable of analyzing blood and provide doctors readings on 80 tests within a few minutes.{{Cite web |last=Whelan |first=David |title=Medicine Man |url=https://www.forbes.com/forbes/2007/1029/088.html |access-date=2022-08-17 |website=Forbes |language=en}}
The company was originally based in Mountain View, California until 1992, when it moved its headquarters to Sunnyvale, California. Also in 1992, the company completed its initial public offering, from which it raised a total of $27 million,{{Cite encyclopedia |year=2006 |title=Abaxis, Inc |encyclopedia=International Directory of Company Histories |url=https://www.encyclopedia.com/books/politics-and-business-magazines/abaxis-inc}} and president and chief executive Richard K. Leute, who had helped to found the company, resigned from it. Leute was replaced by Stroy, who stated that Leute had resigned from Abaxis for "personal reasons".{{Cite news |url=https://www.nytimes.com/1992/04/01/business/business-people-president-co-founder-of-abaxis-resigns-post.html |title=BUSINESS PEOPLE; President, Co-Founder Of Abaxis Resigns Post |last=Ramirez |first=Anthony |date=1992-04-01 |work=The New York Times |access-date=2019-08-05 |language=en-US |issn=0362-4331}} Leute remained serving the company as a consultant.{{Cite web |last= |date=1992-04-01 |title=Abaxis Inc. announced the appointment of Gary... |url=https://www.latimes.com/archives/la-xpm-1992-04-01-fi-83-story.html |access-date=2022-08-17 |website=Los Angeles Times |language=en-US}}
Abaxis introduced its first commercial product, VetScan, in 1994, followed by its first human diagnostic technology, Piccolo, in 1995. In 2000, it again relocated its headquarters, this time to Union City, California. It posted its first net profit, of $188,000, in 2001. In May 2018, Zoetis announced that it had reached an agreement to acquire Abaxis,{{Cite press release |title=Zoetis to Acquire Abaxis, a Leading Global Provider of Veterinary Point-of-Care Diagnostic Instruments |date=2018-05-16 |url=https://news.zoetis.com/press-release/diagnostics/zoetis-acquire-abaxis-leading-global-provider-veterinary-point-care-diagno |url-status=dead |archive-url=https://web.archive.org/web/20180624183939/https://news.zoetis.com/press-release/diagnostics/zoetis-acquire-abaxis-leading-global-provider-veterinary-point-care-diagno |archive-date=2018-06-24 |access-date=2019-08-05 |website=Zoetis}} and the acquisition was finalized in July of that year.{{Cite press release |title=Zoetis Completes Acquisition of Abaxis, a Leading Global Provider of Veterinary Point-of-Care Diagnostic Instruments |date=2018-07-31 |url=https://news.zoetis.com/press-release/diagnostics/zoetis-completes-acquisition-abaxis-leading-global-provider-veterinary-poi |url-status=dead |archive-url=https://web.archive.org/web/20181004144833/https://news.zoetis.com/press-release/diagnostics/zoetis-completes-acquisition-abaxis-leading-global-provider-veterinary-poi |archive-date=2018-10-04 |access-date=2019-08-05 |website=Zoetis}}
References
{{Reflist}}
External links
- {{Official website|https://www.abaxis.com/}}
Category:1989 establishments in California
Category:2018 disestablishments in California
Category:Medical technology companies of the United States
Category:Companies based in Mountain View, California
Category:Companies based in Sunnyvale, California
Category:Companies based in Union City, California
Category:American companies established in 1989
Category:American companies disestablished in 2001
Category:2018 mergers and acquisitions
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