May 20, 2002
AmeriPath Announces Agreement with Aetna
Riviera Beach, FL, May 20, 2002 – AmeriPath, Inc. (Nasdaq:PATH),
a leading national provider of cancer diagnostics, genomics, and
related information services, today announced it has signed an
agreement with Aetna to provide anatomic pathology services for
members in Aetna’s HMO-based plans in Florida. The agreement
also allows AmeriPath to participate with Aetna as a preferred
provider for all PPO and indemnity plans in all states on a nationwide
basis where Aetna operates.
"We are excited about the opportunity to provide Aetna members
and participating physicians with the highest level of anatomic
pathology services and are proud to partner with a company of Aetna's
strength and reputation", commented Brian C. Carr, AmeriPath's
president. “This agreement represents both our largest statewide
HMO contract and nationwide PPO contract under a single provider
number, and allows Aetna the convenience and efficiency of utilizing
AmeriPath as one entity with seamless access to high quality, locally
provided anatomic pathology services. We believe this model will
demonstrate the advantages to patients and referring physicians
of having local access to superior turnaround time as well as world
class pathology resources and sub-specialty expertise."
AmeriPath is a leading national provider of cancer diagnostics,
genomics, and related information services. The Company’s
extensive diagnostics infrastructure includes the Center for Advanced
Diagnostics (CAD), a division of AmeriPath. 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. 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.
