Point-of-care diagnostics test leader Chembio Diagnostics announced it will soon join the Russell Global Index. According to a preliminary list of additions posted on June 21 at www.russell.com/indexes, the listing will happen on June 28, when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes.
Russell Global Index membership remains in place for one year and means automatic inclusion in the appropriate large-cap, small-cap and all-cap indexes, as well as the applicable style, sector, and country indexes. Membership for Russell’s equity indexes is determined chiefly by objective market-capitalization rankings and style attributes. Chembio’s stock will be included in Russell’s Micro-Cap Index.
Chembio continues to build momentum with both sales and product development and is currently in a very strong position. The company’s membership in the Russell Global Index is occurring at a time when Chembio has experienced four consecutive years of profitability and revenue growth. The company now has three FDA-approved rapid HIV tests, including its oral fluid HIV test which is pending CLIA waiver and strong international sales. Chembio is additionally developing a robust POC product pipeline based on the company’s patented DPP technology.
“We are very pleased to join the list of successful companies comprising the Russell Global Index and look forward to the enhanced visibility of our membership,” said Chembio Chairman and CEO Lawrence A. Siebert.
Chembio Diagnostics is engaged in developing, manufacturing, licensing, and marketing proprietary rapid diagnostic tests in the burgeoning $10 billion point-of-care testing market. The company is headquartered in Medford, N.Y., and has approximately 170 employees. Chembio is licensed by the FDA and the USDA and is also certified for the global market under the International Standards Organization (ISO) directive 13.485.
For more information, visit www.chembio.com
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