October 31, 2002
AMERIPATH ANNOUNCES INDEPENDENCE BLUE CROSS AGREEMENT EXPANSION
Riviera Beach, FL, October 31, 2002 – AmeriPath, Inc. (Nasdaq:PATH),
a leading national provider of cancer diagnostics, genomics, and
related information services, today announced that it has expanded
its current agreement with Independence Blue Cross to include all
anatomic pathology services. AmeriPath had recently signed an agreement
with Independence Blue Cross to provide dermatopathology services.
Through this new agreement, the full scope of AmeriPath’s
pathology services will now become available to all Keystone
HMO and Independence Blue Cross members in the southeastern Pennsylvania
area.
James C. New, Chairman and Chief Executive Officer, commented, “We
are proud to have Independence Blue Cross as a contacting partner.
Association with such a high quality insurer is a positive reflection
upon AmeriPath. We believe our full range of anatomic pathology
services will significantly improve diagnostic services to Independence
members.”
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 (PCRTM, performed pursuant to an agreement with
Roche Molecular Systems, Inc.), 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.
