Enzo Biochem streamlines operations, expects gross margin improvements

February 26, 2016

"The initiatives we are announcing today are the result of ongoing intensive analysis designed to ramp up our activities, enhance operations and position Enzo for fresh growth," said Barry Weiner, Enzo's President. "Over the past three years, Enzo has built, through a series of acquisitions at its Life Sciences unit, a global life sciences biomedical products company which is positioned for growth with over 10,000 in-house manufactured products The acquired companies R&D efforts, sales and marketing and back office operations have now been consolidated, resulting in reduced costs and improved efficiencies, and a focus on higher margined products.

"At Enzo Clinical Labs, we have lowered costs, including staffing levels, through the significant investments we have made in technology over the past year as well as the result of management changes, which have contributed to heightened efficiency. As a result of these improved systems, we expect increased Enzo Clinical Labs gross margins, improvement in the collections process and enhanced operating results.

'Now that we have completed the heavy investment phase of our development, it is time to drive operating results. The actions will allow us to more fully focus on the operational synergies between divisions, and, as a result, position us even more strongly for the development of higher-margin innovative products and services for the markets we serve."

Source: Enzo Biochem, Inc.