September 27, 1999
AMERIPATH ACQUIRES WISCONSIN PATHOLOGY PRACTICE
Riviera Beach, FL, September 27, 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 Associated Laboratory Physician Services, a pathology
practice located in Wauwatosa, Wisconsin, approximately
10 miles west of Milwaukee. The practice had annualized
net revenues, as of May 1999, of approximately $6.3 million.
Terms of the transaction were not disclosed.
Associated Laboratory Physician Services and its physicians
have maintained an excellent reputation in the Milwaukee
area for over 40 years. This is AmeriPath's second acquisition
in the state of Wisconsin and its first in the Milwaukee
area. The practice's eighteen physicians provide professional
pathology services for five hospitals in the Covenant
Healthcare System representing over 1400 beds in addition
to two labs and a closed panel HMO in the Greater Milwaukee
area.
"The addition of Associated Laboratory Physician Services,
with Winston N. Hollister, M.D. as Managing Director,
will enhance our presence in the state of Wisconsin as
a pedestal pathology practice with longstanding ties
to the Milwaukee medical community," said James C. New,
Chairman and CEO of AmeriPath. "This is of strategic
significance to our growth in this market and complements
as well as provides synergistic opportunities with the
Consultant Physicians in Pathology practice located in
Beaver Dam."
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 291 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 and discussed in AmeriPath's
filings with the Securities and Exchange Commission (including
its Form 10-K Annual Report).
