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SUNNYVALE, Calif., Sept. 4, 2014 /PRNewswire/ -- Cepheid (NASDAQ: CPHD) today announced that it has been named to Forbes magazine's list of the World's Most Innovative Growth Companies, reflecting companies identified by investors as innovation leaders.

"Cepheid's GeneXpert^® Systems and associated tests are continuing to lead innovation in the field of molecular diagnostics, bringing the power of accurate, rapid and easy-to-use diagnostic tests to virtually any location around the world," said John Bishop, Cepheid's Chairman and Chief Executive Officer. "Cepheid's systems have proven to reduce many of the costs and restrictions historically associated with highly sophisticated molecular diagnostic tests, and enable them to move closer to the patient than could ever have been imagined. For example, our Xpert^® MTB/RIF test is revolutionizing the management of tuberculosis worldwide."

Since 2006, Cepheid has placed almost 7,100 GeneXpert and Infinity systems in more than 120 countries globally, including more than 3,000 systems placed in the emerging markets in just the last three years. Reflecting its unique versatility and scalability, the GeneXpert System is the most prevalent molecular diagnostics instrument in US hospital laboratories today¹. Driving continuing adoption, Cepheid is investing aggressively in the rapid expansion of the test menu available for the GeneXpert and Infinity Systems. With two additional tests announced earlier this week, the menu now stands at 19 tests outside the US, and 14 tests within the US.

"While we are very pleased to be identified by the financial community as an innovation leader, Cepheid is not standing still and continues to innovate across all areas of its business," added David Persing M.D., Ph.D., Cepheid's Chief Medical and Technology Officer. "Our high-level multiplexing initiative is progressing extremely well, and we expect to be the first company to democratize virology and oncology testing as we extend the reach of our Xpert test menu in the coming quarters and years."

About Cepheid

Based in Sunnyvale, Calif., Cepheid (Nasdaq: CPHD) is a leading molecular diagnostics company that is dedicated to improving healthcare by developing, manufacturing, and marketing accurate yet easy to use molecular systems and tests. By automating highly complex and time-consuming manual procedures, the company's solutions deliver a better way for institutions of any size to access the full power of molecular diagnostics. The company's systems enable rapid, sophisticated genetic testing for organisms and genetic-based diseases by automating otherwise complex manual laboratory procedures. Through its strong molecular biology capabilities, the company is focusing on those applications where accurate, rapid, and actionable test results are needed most, such as managing infectious diseases and cancer. For more information, visit www.cepheid.com.

References

1. Market Diagnostics International (MDxI), 2013-2 IVD Insights Molecular Diagnostics Report.

Forward-Looking Statements

This press release contains forward-looking statements that are not purely historical regarding Cepheid's or its management's intentions, beliefs, expectations and strategies for the future, including those relating to the breadth and speed of test menu expansion, product extension and expansion and additional capabilities for Cepheid's systems.  Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results could differ materially from the Company's current expectations. Factors that could cause actual results to differ materially include risks and uncertainties such as those relating to: test performance in the field; our ability to successfully develop new products; the completion of clinical trials for new products successfully and in a timely manner; uncertainties related to the United States FDA, European and other regulatory processes; the Company's research and development budget; the potential need for additional intellectual property licenses for tests and other products and the terms of such licenses; and underlying regulatory, political and market conditions worldwide. Readers should also refer to the section entitled "Risk Factors" in Cepheid's Annual Report on Form 10-K, its most recent Quarterly Report on Form 10-Q, and its other reports filed with the Securities and Exchange Commission.

All forward-looking statements and reasons why results might differ included in this release are made as of the date of this press release, based on information currently available to Cepheid, and Cepheid assumes no obligation to update any such forward-looking statement or reasons why results might differ.

SOURCE Cepheid