December 5, 2002
AmeriPath Acquires Wisconsin Dermatopathology Laboratory
-Expands Presence in Midwest Region -
Riviera Beach, FL, December 5, 2002 – AmeriPath, Inc. (Nasdaq:
PATH), a leading national provider of cancer diagnostics, genomic,
and related information services, today announced the acquisition
of Dermatopathology of Wisconsin, an independent dermatopathology
laboratory located in Brookfield, Wisconsin, a western suburb of
Milwaukee.
Dermatopathology of Wisconsin provides dermatopathology services
to dermatologists and other physicians across Wisconsin. Through
his practice and through his academic relationships, Dr. James
L. Troy, the founder of Dermatopathology of Wisconsin, has established
an excellent reputation within his community. Dermatopathology
of Wisconsin was established as an independent laboratory 13 years
ago. Dermatopathology of Wisconsin employs a staff of 12, including
two Dermatopathologists.
James C. New, Chairman and Chief Executive Officer commented, “Dr.
Troy and his staff have an outstanding reputation of providing
reliable accurate service and will contribute to our rapidly growing
base of business in the Midwest region. Dermatopathology of Wisconsin
is a solid platform for expansion into other Dermatopathology markets
in the Midwest region and nationally. Our relationship with Dr.
Troy and Dermatopathology of Wisconsin further enhances our standing
as the leading provider of Dermatopathology services in the country.”
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.
