May 13, 1999
AMERIPATH ACQUIRES PATHOLOGY PRACTICES
Riviera Beach, FL, May 13, 1999 -- AmeriPath, Inc. (Nasdaq:
PATH), a physician group practice focused on anatomic
pathology services, continues to build on its Florida
regional business model by announcing the acquisition
of Hialeah and South Florida Pathology. The practice
had annualized net revenues of $3.5 million in 1998.
Terms of the transaction were not disclosed.
This acquisition increases the total number of practices
to 12 in the state of Florida. Hialeah and South Florida
Pathology, managed by Christopher G. Economides, M.D.,
located in Hialeah, Florida, provides service to the
physician community of Hialeah Hospital and pathology
services under a contract with SmithKline Beecham Clinical
Laboratories (SBCL) for the three South Florida counties.
"This latest acquisition helps us to continue our leadership
position and develop our regional business model in the
state of Florida," said James C. New, President and CEO
of AmeriPath, Inc. "AmeriPath is pleased to announce
its association with Dr. Economides and we're proud to
have him as a part of the AmeriPath team." Mr. New added, "This
transaction not only strengthens our existing relationship
with SBCL, but increases our presence in the South Florida/Dade
County market."
AmeriPath, Inc. is the nation's leading physician group
practice and laboratory 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 employs 231 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 reimbursement, changes on reimbursement
coding guidelines, 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.
