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AutoCyte arranges finance for PREP customers:

This article was originally published in Clinica

Executive Summary

AutoCyte has secured an agreement with Norwest Financial Leasing, part of the Wells Fargo group, to provide financing for laboratories that wish to acquire the company's PREP automated Pap smear preparation system. Under the deal, customers will be able to avoid capital outlay either by leasing the equipment and purchasing test kits, or by paying a higher per-test price that includes a charge for the equipment. Customers may also purchase the equipment outright. AutoCyte recently received FDA approval for the PREP system after a number of setbacks (See Clinica No 864, p 16), and is currently seeking approval for its SCREEN system, which automates the screening of slides prepared with the PREP system. Last month, AutoCyte and fellow Pap smear company NeoPath agreed a $100 million merger (see Clinica No 862, p 11).

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