November 4, 1998
AMERIPATH ACQUIRES PATHOLOGY PRACTICES
Riviera Beach, FL, November 4, 1998 - AmeriPath, Inc.
(Nasdaq: PATH), a physician practice management company
focused on anatomic pathology services, continues to
build on its regional business models by announcing the
acquisition of two anatomic pathology practices located
in Florida and Ohio. The practices had combined annual
net revenues of $3.4 million for 1997. Terms of the transactions
were not disclosed.
Susan R. Baker, Ph.D., M.D., P.A. is AmeriPath's eleventh
acquisition in the state of Florida. The hospital based
practice employs two physicians who provide inpatient
services at North Shore Medical Center ("North Shore"),
in Miami, Florida. Dr. Susan Baker serves as a Governing
Board Member for North Shore.
Pathology Consultants of Cleveland, Inc. is also hospital
based where its four physicians provide anatomic pathology
services through inpatient and outpatient operations
at Mt. Sinai Medical Center, Cleveland, Ohio. The practice
also provides services to two other hospitals in the
area.
"The acquisition of these two well established and highly
respected practices further exemplify our business strategy
to expand AmeriPath's presence in existing markets and
to provide for additional economies of scale," said James
C. New, President and CEO of AmeriPath, Inc. "We're proud
to have them as a part of the AmeriPath team."
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 226 pathologists
who provide medical services through outpatient pathology
laboratories, hospital inpatient laboratories and outpatient
surgery centers.
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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.
