October 2, 1998
AMERIPATH ACQUIRES TWO PATHOLOGY PRACTICES
Riviera Beach, FL, October 2, 1998 - AmeriPath, Inc.
(Nasdaq: PATH), a physician practice management company
focused on anatomic pathology services, announced today
that it has completed the acquisitions of two anatomic
pathology practices located in Youngstown, Ohio and Denison,
Texas. These acquisitions had a combined annual net revenue
of approximately $8.5 million. Terms of the transactions
were not disclosed.
Consultant Pathology Associates, Inc. is a hospital
based pathology practice located in Youngstown, Ohio
and employs 15 board-certified pathologists with subspecialties
in Dermatopathology, Hematopathology, Chemical Pathology,
Cytopathology and Blood Banking. The practice provides
inpatient and outpatient anatomic pathology services
to St. Elizabeth Health Center, St. Joseph Health Center
and Northside Medical Center. Northside Medical Center
is a major teaching hospital affiliated with Northeastern
Ohio Universities College of Medicine.
Texoma Pathology Associates, P.A. is an outpatient pathology
practice that has built a solid reputation in the Dallas
metropolitan market for over 20 years. The practice employs
two board-certified pathologists and provides inpatient
and outpatient anatomic pathology services to nine hospitals
and a number of outpatient surgery centers.
James C. New, President and CEO of AmeriPath said, "We're
especially pleased to have these groups join the AmeriPath
family. Their proximity to other existing AmeriPath practices
will enhance our overall physician coverage and will
give us the ability to work more effectively with referring
hospital organizations, physicians and managed care groups."
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, employs 213 pathologists
who provide medical services through outpatient pathology
laboratories, hospital inpatient laboratories and outpatient
surgery centers.
.....................................................................................................................
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.
