July 26, 1999
AMERIPATH ACQUIRES PENNSYLVANIA PATHOLOGY PRACTICE
Riviera Beach, FL, July 26, 1999 -- AmeriPath, Inc.
(Nasdaq: PATH), a physician group practice and laboratory
management company focused on anatomic pathology services,
announced today that it has completed the acquisition
of Consulting Pathologists, P.A., an outpatient pathology
practice with locations in the Philadelphia, Pennsylvania
area. The practice had annualized net revenues of $4.4
million. Terms of the transactions were not disclosed.
Consulting Pathologists is AmeriPath's second acquisition
in the state of Pennsylvania and its first in the Philadelphia
area. The practice employs five physicians and 62 technical
and administrative personnel. The practice has established
relationships with SmithKline Beecham Clinical Laboratories
(NYSE:SBH) and with Quest Diagnostics, Inc. (NYSE:DGX).
"The addition of Consulting Pathologists, with Dr. Gordon
Fink as Managing Director, will enhance our position
and regional business model in the state of Pennsylvania," said
James C. New, Chairman and CEO of AmeriPath. "This is
of strategic significance to our growth strategies with
the national clinical laboratories and our entry into
the northeast U.S. 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
twelve states and employs 256 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 and affiliations, integration of acquired
practices, the market for pathology services, competition,
and other factors identified in AmeriPath's filings with
the Securities and Exchange Commission.
