AmeriPath Home For Healthcare Providers Patient and Consumer Information About Us

 


June 21, 2001
AmeriPath, Inc. Announces Increased Commitment to Credit Facility

FOR IMMEDIATE RELEASE

Contact:
Gregory A. Marsh
Vice President & CFO
Ameripath, Inc.
561-712-6211

Michelle D. Getty
Investor Relations
AmeriPath, Inc.
561-712-6260
E-mail: invrel@ameripath.com

Riviera Beach, FL, June 21, 2001 - AmeriPath, Inc. (Nasdaq:PATH), the leading national provider of cancer diagnostics, genomic, and related information services, today announced an increase of committed funding from $230 million to $282.5 million under its existing credit facility.  Citicorp, USA, Inc. has committed $37.5 million and has agreed to  serve as documentation agent for the credit facility.  Credit Suisse First Boston has committed $15 million.

James C. New, Chairman and Chief Executive Officer commented, "This $52.5 million addition to the credit facility provides the Company with increased availability of funding to further its presence, visibility, and growth within the cancer diagnostic and genomic marketplace, and we sincerely appreciate the continued support of the banking community."

AmeriPath is a leading national provider of cancer diagnostics, genomic, and related information services.  In 2000, AmeriPath diagnosed 3.0 million tissue biopsies, and interpreted 2.5 million Pap smears.  The Company's extensive diagnostics infrastructure includes 419 pathologists and doctorate-level scientists providing services to 42 independent pathology laboratories, 237 hospitals, the Center for Advanced Diagnostics (CAD), and Dermpath Diagnostics.  CAD provides specialized diagnostic testing and information services including Fluorescence In-Situ Hybridization (FISH), Flow Cytometry, DNA Analysis, Polymerase Chain Reaction (PCR), Molecular Genetics, Cytogenetics, and HPV Typing.  Dermpath Diagnostics, with 60 board-certified dermatopathologists, is the country's leading provider of Dermatopathology services in the growing skin diagnostic testing market.

Additionally, AmeriPath provides clinical trial and research and development support to firms involved in developing new cancer and genomic diagnostic and therapeutics.

.............................................................................................................

The statements contained in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements - which are sometimes identified by words such as "may", "should", "believe", "expect", "anticipate", "estimate" and similar expressions and which include any financial or operating estimates, forecasts or projections - are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control.  These risks and uncertainties could cause actual results to differ materially from historical results or from results anticipated by forward-looking statements.  These risks and uncertainties include:  the extent of success of the Company's operating initiatives and growth strategies; the Company's ability to manage growth; access to sufficient amounts of capital on satisfactory terms; general economic conditions; competition and changes in competitive factors; federal and state healthcare regulation (and compliance); reimbursement rates under government-sponsored and third party healthcare programs and the payments received under such programs; changes in coding; changes in technology; dependence upon pathologists and contract (such as hospital); the ability to attract, motivate, and retain pathologists; labor and technology costs; marketing and promotional efforts; the availability of pathology practices in appropriate locations that the Company is able to acquire on suitable terms or develop; the successful completion and integration of acquisitions (and achievement of planned or expected synergies); and tax laws. The forward -looking statements in this press release are made as of the date hereof based on management's current beliefs and expectations, and the Company undertakes no obligation to update or revise any such statements, whether as result of new developments, new information or otherwise.  Further information regarding risks, uncertainties and other factors that could affect the Company's financial or operating results, or that could cause actual results to differ materially from those expected, estimated or anticipated, are included in the Company's annual report on Form 10-K for the year ended December 31, 2000, the Company's quarterly report on Form 10-Q for the quarter ended March 31, 2001 and subsequent filings with the SEC. Past performance is not necessarily indicative of  future result.