July 11, 2002
AmeriPath, Inc. Acquires Georgia Diagnostic Laboratory
Riviera Beach, FL, July 11, 2002 – AmeriPath, Inc. (Nasdaq:
PATH), a leading national provider of cancer diagnostics, genomic,
and related information services, today announced the acquisition
of O’Quinn Medical Pathology Association, Inc., a full service
anatomic pathology laboratory located in Augusta, Georgia.
O’Quinn Medical Pathology Association provides pathology
services to a 250-bed hospital and operates an independent outpatient
laboratory. Dr. James L. O’Quinn has an excellent reputation
in the region. O’Quinn Medical Pathology Association employs
a staff of 14, including 3 pathologists.
James C. New, Chairman and Chief Executive Officer commented, “Dr.
O’Quinn’s dermatopathology laboratory and staff have
an outstanding history of providing quality service and professional
medicine unparalleled in the market and will contribute to our
rapidly growing presence in the southeast region. O’Quinn
Medical Pathology Association brings an excellent inpatient and
outpatient client base, and it is our intention to expand their
presence in the Georgia and South Carolina markets.”
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 may 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.
