November 28, 2001
AmeriPath Acquires Dermatopathology Services, P.C. in Alabama
FOR IMMEDIATE
RELEASE
Contact: Gregory A. Marsh Michelle D. Getty Vice President & CFO
Investor Relations AmeriPath, Inc. AmeriPath, Inc. 561-712-6211
561-712-6260 E-mail: gmarsh@ameripath.com E-mail: invrel@ameripath.com
AMERIPATH, INC. ACQUIRES DERMATOPATHOLOGY SERVICES,
P.C. IN ALABAMA
- Enhances Southeast Region; Adds Dermatopathology
Presence - Riviera Beach, FL, November 28, 2001 - AmeriPath,
Inc. (Nasdaq: PATH), a leading national provider of cancer
diagnostics, genomic, and related information services,
today announced the acquisition of Dermatopathology Services,
P.C. and Histology Services, Inc., both of Birmingham,
Alabama. The acquisition has annualized revenue of approximately
$4 million and the laboratory is led by Deborah Sanders,
M.D.
Dermatopathology Services, a full service dermatopathology
laboratory, and Histology Services employ two dermatopathologists
and 13 office and laboratory personnel.
James C. New, Company Chairman and CEO commented, "Dr.
Sanders' dermatopathology laboratory and practice have
been in operation for 13 years. She brings to AmeriPath
an outstanding history of providing quality service and
professional medicine unparalleled in the market. This
laboratory brings an excellent client base, and it is
the Company's intention to expand this presence adding
much of the referral network retained after the July
2001 closure of its previous facility. We look forward
to great success in Alabama, and expanding services to
the Florida panhandle and Louisiana markets."
AmeriPath is a leading national provider of cancer
diagnostics, genomic, and related information services.
In the first nine months of 2001, AmeriPath diagnosed
2.9 million tissue biopsies, and interpreted 1.6 million
Pap smears. The Company's extensive diagnostics infrastructure
includes 422 pathologists and doctorate-level scientists
providing services to 43 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
67 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 diagnostics and therapeutics.
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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; ability to manage growth; access
to capital on satisfactory terms; general economic conditions;
a possible outbreak of hostilities or war; competition
and changes in competitive factors; federal and state
healthcare regulation (and compliance); reimbursement
rates under government and third party healthcare programs
and the payments received under such programs; changes
in coding; changes in technology; dependence upon pathologists
and customer contracts; 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, quarterly,
and other reports and filings with the SEC. Past performance
is not necessarily indicative of future results.
