August 7, 2002
AmeriPath Announces Opening of its Institute of Gastrointestinal
Pathology and Digestive Disease
Riviera Beach, FL, August 7, 2002 - AmeriPath, Inc. (NASDAQ:
PATH), a leading national provider of cancer diagnostics, genomic
and
related information services, today announced the grand opening
of its new Institute of Gastrointestinal Pathology and Digestive
Disease.
Robert E. Petras, M.D., who had been appointed AmeriPath’s
National Director of Gastrointestinal Pathology Services in January
2002, will head AmeriPath’s Institute of Gastrointestinal
Pathology and Digestive Disease. Dr. Petras is recognized as one
of the foremost gastrointestinal pathologists in the United States.
His impressive credentials include longtime service with the Cleveland
Clinic Foundation in a series of critical leadership roles, the
co-authoring of more than 200 scientific publications focusing
on the diagnosis and management of gastrointestinal disease, and
frequent appearances as faculty at venues such as the American
Society of Clinical Pathologists, the American Gastroenterology
Association and the United States and Canadian Academy of Pathology
annual meetings. Dr. Petras has also lectured extensively at major
universities and at state and regional pathology and gastroenterology
society meetings on the diagnosis and management of gastrointestinal
disease. Richard H. Lash, M.D., has also been appointed the AmeriPath
Institute of Gastrointestinal Pathology and Digestive Disease Co-Director.
In this capacity, he will assist Dr. Petras in the further development
and operation of the Institute.
The AmeriPath Institute of Gastrointestinal Pathology and Digestive
Disease, located in Cleveland, Ohio at the site of AmeriPath’s
existing laboratory facility, will occupy more than 6,000 square
feet of newly created space dedicated to gastrointestinal disease
diagnosis, management, research and education. The Institute will
focus on providing leadership and expertise to AmeriPath’s
referring physicians, residents and its own network of physicians
who subspecialize in gastrointestinal pathology. The Institute
will render educational services through a variety of media, such
as workshops and lectures at meetings and seminars throughout the
nation. The Institute will also provide routine histological services,
consultations on difficult cases and esoteric tests to help assist
physicians in the diagnosis and management of gastrointestinal
disease.
AmeriPath’s president, Brian Carr, stated, “Dr. Petras’ experience
and expertise in gastrointestinal disease management, in concert
with AmeriPath’s strategic vision, will provide unparalleled
excellence in gastrointestinal pathology to the medical community
and the patients we serve. Furthermore, the formation of the Institute
will enable AmeriPath to set new standards in terms of medical
expertise and the rendering of education services.”
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; professional
liability claims; 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 reports filed with
the SEC.
