RALEIGH, N.C., May 5, 2014 (GLOBE NEWSWIRE) -- In a proactive effort to manage its cash, LipoScience, Inc. (Nasdaq:LPDX) today announced a reduction in workforce. This announcement represents the latest step in the Company's efforts to streamline its operations and further manage its operating costs. The action, taken in response to the Company's March 28, 2014 decision to terminate its contract with Health Diagnostic Laboratory, resulted in a reduction of approximately 22 positions across the Company.
"This workforce reduction was a very difficult decision for our Company, but a necessary one in order to streamline our operations company-wide. We remain grateful for all of our employees and these 22 individuals who have made a contribution to the Company. We recognize the consequences of this workforce reduction on their lives. As such, we have established severance and outplacement assistance for those employees affected by this action," said Howard Doran, President and Chief Executive Officer of LipoScience.
About LipoScience, Inc.
LipoScience, Inc. (Nasdaq:LPDX) is pioneering a new field of personalized diagnostics based on nuclear magnetic resonance (NMR) technology. The NMR LipoProfile® test, the Company's first proprietary test, is an FDA-cleared blood test that directly quantifies LDL particles and provides physicians and their patients with actionable information to personalize management of heart disease. To date, more than 11 million NMR LipoProfile tests have been ordered. LipoScience is striving toward the NMR LipoProfile test becoming the preferred choice by physicians for the management of cardiovascular disease.
The Vantera® Clinical Analyzer is the first FDA-cleared platform that utilizes NMR technology. Its ease of use and quick turnaround time helps maximize efficiency and throughput in the clinical laboratory. For further information on LipoScience, please visit www.liposcience.com and www.theparticletest.com.