Lawrence Siebert, Chief Executive Officer, Chembio Diagnostics, Inc. (OTCBB: CEMI), which develops, manufactures, markets and licenses point-of-care diagnostic tests, was recently featured in Newsday, a suburban Long Island, New York daily newspaper.
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The company's best quarterly earnings results were touted in an article by Emi Endo in the daily American newspaper, which has the eleventh highest circulation in the United States and highest for a suburban paper. Chembio's quarter ended June 30, 2009 also represented the first time the company has reached profitability since going public in 2004. When asked how the recession affected the company, Mr. Siebert commented, "We've had our best results this year. Having a broader base of our business both internationally and now domestically has been helpful." In addition to Chembio's financial milestones, in the article Mr. Siebert comments on the significance of the federal proposal to have Medicare cover HIV testing, stating his belief that "it would be very significant because Medicare covers 45 million people." Mr. Siebert is quoted in the article in stating his belief that the Medicare population should all be tested, but the factor that would change if the current proposal is enacted is that there would then be a source of payment with Medicare. Mr. Siebert also mentioned that non-FDA approved HIV tests manufactured off-shore are getting most of the test kit procurements from the U.S. President's Emergency Plan for AIDS Relief, a multi-billion U.S. taxpayer funded program established in 2003. "Chembio is honored to be featured in Newsday," says Mr. Siebert. "The company is also very proud to be a
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