January 4, 2001
AMERIPATH ACQUIRES OKLAHOMA PRACTICES
Riviera Beach, FL, January 4, 2001 - AmeriPath Inc,
(NASDAQ: PATH), the nation's largest company focused
on providing anatomic pathology, cancer diagnostic and
related healthcare information services, announced today
that it has acquired a large Oklahoma pathology practice,
comprised of 19 well-respected pathologists who have
been servicing the Oklahoma City and Tulsa markets for
over 25 years.
The practice's Oklahoma City operation is a hospital-based
pathology practice and services 6 hospitals in the area. The
Tulsa operation serves 10 hospitals in the Tulsa and
northeast Oklahoma area and also provides outpatient
pathology services through its outpatient diagnostic
laboratory and relationships with two outpatient surgery
centers. The practice also provides pathologists to
serve as the Medical Directors for one of the large national
clinical laboratories in both locations.
AmeriPath's Chairman and Chief Executive Officer, James
C. New, commented, "This very significant transaction
represents the Company's initial entry into the state
of Oklahoma and we are pleased to have Tommy L. Hewett,
M.D., who built the practice, join us as the practice's
Managing Director, along with his staff of 19 pathologists.
We are very excited about the new business opportunities
this acquisition creates in expanding our southwest regional
business model. Through the addition of sales and marketing,
and the esoteric testing services of our Center for Advanced
Diagnostics, we can enhance the breadth of services offered
in Oklahoma. Combined with our presence in Texas, this
acquisition is of strategic significance in that it better
positions AmeriPath to contract with and serve the needs
of larger regional third party payers and managed care
plans."
AmeriPath, Inc. is the nation's largest company focused
on providing anatomic pathology, cancer diagnostic and
related healthcare information services to physicians,
hospitals, national clinical laboratories and managed
care organizations. The Company's 425 physicians provide
medical services through 42 outpatient pathology laboratories,
224 hospital inpatient laboratories, and 64 outpatient
surgery centers in 21 states.
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The statements of James C. New and
other statements contained in this press release
are "forward-looking
statements" which are based on current beliefs and expectations.
Past performance is not necessarily indicative of future
results. In addition, forward-looking statements - which
are identified by words such as "may", "should", "believe," "expect," "anticipate" and
similar expressions -- are subject to a number of risks
and uncertainties which could cause actual results to
differ materially from historical results or those expected
or anticipated. These include risks and uncertainties
relating to satisfaction of closing conditions, demand
for pathology services, pricing, federal and state regulation
(and compliance), reimbursement rates, government and
third party payments, the ability to attract, motivate,
and retain pathologists, dependence upon pathologists
and contracts, the development and expansion of managed
care and national clinical lab contracts, completion
and integration of acquisitions and affiliations (and
achievement of planned or expected synergies), competitive
factors and technology. Further information regarding
risks, uncertainties and other factors that could affect
the Company's financial results, or could cause actual
results to differ materially from those expected or anticipated,
are included in the Company's Form 10-K for the year
ended December 31, 1999 and subsequent filings with the
SEC.
