January 3, 2002
AmeriPath Announces Agreement With Robert E. Petras, M.D.
FOR IMMEDIATE RELEASE
Contact: Gregory A. Marsh, Vice President and CFO AmeriPath, Inc.
561-712-6211 E-mail: gmarsh@ameripath.com
Michelle D. Getty, Investor Relations AmeriPath, Inc.
561-712-6260
E-mail: invrel@ameripath.com
AMERIPATH ANNOUNCES AGREEMENT WITH ROBERT E. PETRAS, M.D.
RIVIERA BEACH, FL, January 3, 2002 - AmeriPath, Inc. (NASDAQ:
PATH), a leading national provider of cancer diagnostics, genomics
and related information services, today announced that Dr. Robert
E. Petras, one of the foremost gastrointestinal (GI) pathologists
in the United States, has joined the AmeriPath team effective January
1, 2002.
Dr. Petras, a graduate of Case Western Reserve University (CWRU)
and The Ohio State University College of Medicine, completed his
residency in pathology at the Cleveland Clinic. He received subspecialty
training in gastrointestinal pathology at St. Marks Hospital, London,
England under the tutelage of Professor Basil Morson.
During the last 20 years of his distinguished career, Dr. Petras
served the Cleveland Clinic Foundation in a series of leadership
positions, including Chairman, Department of Anatomic Pathology;
Vice Chairman, Division of Pathology and Laboratory Medicine; Residency
Program Director, Anatomic and Clinical Pathology; and Program
Coordinator, Medical Student Clerkships in Pathology. He also held
several teaching appointments at CWRU School of Medicine.
As a fellow of the American College of Gastroenterology, the College
of American Pathologists, the American Society of Clinical Pathologists
(ASCP) and the United States and Canadian Academy, Dr. Petras has
held a number of important offices and committee appointments,
including President, Gastrointestinal Pathology Society; Chairman,
National Meeting Workshops Subcommittee for the Anatomic Pathology
Council, ASCP; and chairman of several Digestive Disease Week abstract
review committees for the American Gastroenterological Association
(AGA). He is a currently a member of the American Board of Colon
and Rectal Surgery test committee.
Dr. Petras has co-authored over 200 scientific publications on
a variety of subjects relevant to gastrointestinal disease, including
management of early colorectal cancer, accurate diagnosis of inflammatory
bowel disease, and the diagnosis and management of dysplasia and
early cancer in inflammatory bowel disease and Barrett’s
esophagus. He has also held editorial board positions for such
prestigious publications as the American Journal of Surgical Pathology,
Inflammatory Bowel Disease, Modern Pathology, and the American
Journal of Clinical Pathology.
Dr. Petras is an accomplished and gifted teacher and educator.
He has served as a faculty member for the American Society for
Gastrointestinal Endoscopy (ASGE) and the AGA during Digestive
Disease Week, at the annual meetings of the United States College
of Anatomic Pathologists (USCAP) and at the ASCP national meetings.
He has also lectured extensively on gastrointestinal disease at
various universities as well as state and regional gastroenterology,
colorectal surgery and pathology society meetings.
In his new capacity, Dr. Petras will provide leadership and expertise
to those AmeriPath pathologists who subspecialize in GI diseases,
as well as to the legion of physicians that AmeriPath serves nationwide.
Dr. Petras stated, “I am excited about joining AmeriPath,
the largest independent anatomic pathology company in the United
States. AmeriPath is known for its high quality, service and innovation.
Strategically, AmeriPath has great vision, and I am looking forward
to helping it develop the GI product and to having an impact on
the anticipated growth of this business.”
Brian Carr, President of AmeriPath, Inc., stated, “We believe
Dr. Petras’ experience and expertise in GI disease management,
in concert with AmeriPath’s strategic vision, will provide
unparalleled excellence in GI pathology to the medical community
we serve. We are very excited about Dr. Petras joining the AmeriPath
team to provide leadership and expertise and to help us accelerate
our growth in this large and growing pathology market.” AmeriPath
is a leading national provider of cancer diagnostics, genomic and
related information services. During the first nine months of 2001,
AmeriPath diagnosed approximately 2.9 million tissue biopsies,
and interpreted approximately 1.6 million Pap smears. The company’s
extensive diagnostics infrastructure includes over 400 pathologists
and doctorate-level scientists providing services to 42 independent
pathology laboratories, more than 200 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. AmeriPath has over 60 board-certified
dermatopathologists supporting Dermpath Diagnostics, one of the
country’s leading providers of dermatopathology services
in the growing skin diagnostic market. Additionally, AmeriPath
provides clinical trial and research 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 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; terrorism or an escalation
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, technology and insurance 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; and the successful
completion and integration of acquisitions (and achievement
of planned or expected synergies). 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.
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.
