February
11, 2003
AmeriPath Announces Agreement With Roche Diagnostics Molecular
Center of Excellence
Riviera Beach, FL, and Indianapolis, IN., February 11, 2003 – AmeriPath,
Inc. (Nasdaq: PATH), a leading national provider of cancer diagnostics,
genomic, and related information services, today announced it has
signed a five-year strategic alliance agreement with Roche Diagnostics
to establish a series of Molecular Centers of Excellence to perform
esoteric genomic diagnostic testing using Roche’s patented
Polymerase Chain Reaction (PCR) and other advanced genomic technologies.
Molecular diagnostic testing offers the opportunity to expand
and improve AmeriPath’s diagnostic services to clients by
providing more sensitive, more specific and faster results so that
patient treatment can be improved. Molecular testing brings not
only the ability to diagnose specific viral and bacterial pathogens,
but also to monitor how much pathogen is present in the system,
a feature which allows better treatment options. Further, molecular
genetic testing will be used to provide highly accurate negative
predictive values when screening for genetic mutations in cystic
fibrosis and other diseases. AmeriPath intends to continue to leverage
its strengths in this market through clinical trial and research
and development work on new cancer and genomic molecular diagnostics.
“This agreement positions AmeriPath with the world’s
leading diagnostic company to become an early adopter in the coming
explosion of advanced, esoteric molecular diagnostic testing,” said
Dennis Smith, AmeriPath’s Executive Vice President of Genomic
Strategies and Chief Medical Officer. “PCR technology provides
a highly sensitive methodology for earlier detection of lower concentrations
of target organisms with very high specificity in an expanding
menu, including, but not limited to HIV, hepatitis, chlamydia,
gonorrhea, and human papillomavirus (HPV), the causative agent
for virtually all women’s cervical cancer. We are very excited
about working with Roche Diagnostics and the positive impact this
will have on improving patient care. This partnership will provide
AmeriPath with very early access to new assays and technologies.
As we roll our Molecular Centers of Excellence concepts into our
regional Center for Advanced Diagnostics “pod” labs,
we believe this business model will further enhance the advantages
of local access through superior turn-around time and world-class
pathology resources. We fully expect this agreement to lead to
other opportunities with Roche.”
With Roche Diagnostics being the world’s leading diagnostics
company, this is a perfect match with AmeriPath as a leading national
provider of cancer diagnostics, genomics, and other information
services." said Martin Madaus, President and CEO of Roche
Diagnostics Corporation. "AmeriPath's extensive diagnostics
infrastructure -- including the Center for Advanced Diagnostics
-- is well positioned to help us shift the paradigm from reactive
testing, diagnosing, treating, and monitoring to proactive detection.
This allows for the delivery of actionable healthcare information,
possibly before the onset of disease, leading to early intervention
with treatment or a change in wellness habits."
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, 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.
Headquartered in Basel, Switzerland, Roche is one of the world’s
leading research-oriented healthcare groups. The company’s
two core businesses in pharmaceuticals and diagnostics provide
innovative products and services that address prevention, diagnosis,
and treatment of diseases, thus enhancing people’s health
and quality of life.
Roche Molecular Diagnostics, a business area of Roche Diagnostics,
has made the Polymerase Chain reaction (PCR) the leading nucleic
acid amplification technology (NAT) in the world. PCR technology
allows minute amounts of genetic material to be amplified into
billions of copies in just a few hours, thereby facilitating detection
of the DNA or RNA of pathogenic organisms even before antibodies
to these organisms are formed.
The two core businesses employ about 57,000 employees worldwide.
Roche’s Diagnostics Division, the world leader in in vitro
diagnostics with a uniquely broad product portfolio, supplies a
wide array of innovative testing products and services to researchers,
physicians, patients, hospitals and laboratories worldwide. Roche
Diagnostics’ North American headquarters are located in Indianapolis,
Indiana. For further information, please visit www.roche.com and
www.roche-diagnostics.com.
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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.