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"Anyone can see that this is the direction healthcare needs to be going," says Jeff Cardon, portfolio manager of Wasatch Small Cap Growth Fund, which holds the stock. "In ten years this will be a much bigger company."
The concept for the machines originated from R&D contracted by NASA, which needed a simple way to perform biochemical analyses in space labs. Abaxis also produces a similar instrument for use in veterinary offices, and earns additional revenue from supplying small plastic discs loaded with chemical reagents which must be replaced after each test.
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