August 20, 1998
AMERIPATH ACQUIRES TWO PATHOLOGY PRACTICES
Riviera Beach, FL, August 20, 1998 - AmeriPath, Inc.
(Nasdaq: PATH), a physician practice management company
focused on anatomic pathology services, announced today
that it has completed the acquisition of two anatomic
pathology practices located in Henderson, North Carolina
and Muscle Shoals, Alabama. These two acquisitions had
a combined total revenue of approximately $3.4 million
for the year ended 1997. Terms of the transactions were
not disclosed.
Shoals Pathology Associates, P.C. (SPA), located in
Muscle Shoals, Alabama, employs four board-certified
pathologists and contracts with four hospitals, a reference
laboratory, and more than 80 referring physicians to
provide inpatient and outpatient anatomic pathology services.
Ralph Braund, M.D., who founded the practice in 1975,
is board-certified in dermatopathology. This is the second
pathology practice to be acquired by AmeriPath in the
state of Alabama.
H. Michael Jones, M.D., P.A., is a hospital based pathology
practice operating from Maria Parham Hospital located
in Henderson, North Carolina. They provide pathology
services to two hospitals and have an outpatient pathology
practice which services in excess of 50 referring physicians.
The practice operates with one full-time and two part-time
board-certified pathologists, one of whom has a subspecialty
in cytopathology. This acquisition establishes AmeriPath's
initial penetration into the North Carolina market.
James C. New, President and CEO of AmeriPath said, "These
acquisitions demonstrate our ability to execute our acquisition
program, including the establishment of a practice in
the North Carolina marketplace. In addition, these two
practices will complement our existing presence in Alabama
and Mississippi and contribute to the overall development
of our southern region." AmeriPath currently has 196
pathologists and provides services in ten states.
AmeriPath, Inc. is the nation's leading physician practice
management company focused on providing anatomic pathology
services to physicians, hospitals, national clinical
laboratories and managed care organizations. The company
presently operates in ten states and provides medical
services through outpatient pathology laboratories, hospital
inpatient laboratories and outpatient surgery centers.
Additional information is available on the Internet:
www.ameripath.com.
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This release contains certain forward-looking statements
regarding AmeriPath, including its operations and prospects.
Past performance is not necessarily indicative of future
results. In addition, AmeriPath's actual results could
differ materially from the results anticipated in these
forward-looking statements as a result of uncertainties,
including risks relating to demand, pricing, government
regulation, payments and reimbursements, dependence upon
contracts and pathologists, acquisitions, integration
of acquired practices, the market for pathology services,
competition, and other factors identified in AmeriPath's
filings with the Securities and Exchange Commission.
