AmeriPath, Inc. Announces Completion of Inform DX Acquisition.Business Editors/Health & Medical Writers RIVIERA BEACH Riviera Beach (rəvēr`ə), resort city (1990 pop. 27,639), Palm Beach co., SE Fla., on Lake Worth (a lagoon); inc. 1922. Research and development firms are located in the growing city. , Fla.--(BUSINESS WIRE)--Dec. 1, 2000 AmeriPath, Inc., (Nasdaq:PATH), the nation's largest company focused on providing anatomic pathology, cancer diagnostic and related healthcare information services See Information Systems. , announced today that it has completed and consummated the previously announced acquisition of Pathology Consultants of America, Inc. (Inform DX). In connection with the acquisition, AmeriPath issued approximately 2.6 million shares of common stock in exchange for all the outstanding common stock of Inform DX. In addition, AmeriPath assumed certain obligations to issue shares of common stock pursuant to outstanding Inform DX stock option plans. AmeriPath also agreed to file a registration statement with the Securities and Exchange Commission in April 2001, covering one-third of the shares issued to Inform DX shareholders in the acquisition, to permit holders to sell such shares, once registered, from time to time through November 2001. This acquisition will add 12 anatomic pathology laboratories in 10 states (six states are new to AmeriPath), the largest of which are located in Pennsylvania, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Missouri and Tennessee. AmeriPath will add to its workforce approximately 400 employees, including an 18-person sales force and 88 (employed or contracted) physicians, 22 of which are board-certified dermatopathologists. In addition to serving a large referring physician base, Inform DX's 43 hospitals will now contribute to a total of 208 hospital locations served by AmeriPath. James C. New, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AmeriPath commented, "A well-planned and organized integration process has already commenced. We anticipate full integration of operations by the end of the first quarter of 2001. We are excited to further strengthen our management team by adding members of Inform DX's accomplished senior management, including Brian C. Carr as President and James E. Billington as a Senior Vice President of Operations of AmeriPath. Both gentlemen will be relocating to AmeriPath's corporate headquarters in Riviera Beach, Florida Riviera Beach is a city in Palm Beach County, Florida, U.S.A. which was incorporated September 29, 1922. The population was 29,884 at the 2000 census. As of 2004, the population was estimated by the U.S. Census Bureau to be 32,522. ." AmeriPath, Inc. is the nation's largest company focused on providing anatomic pathology, cancer diagnostic and related healthcare information services to physicians, hospitals, national clinical laboratories and managed care organizations. The Company's physicians provide medical services through outpatient pathology laboratories, hospital inpatient laboratories and outpatient surgery Outpatient Surgery, also referred to as ambulatory surgery or same-day surgery, is surgery that does not require an overnight hospital stay. The term “outpatient” arises from the fact that surgery patients may go home do not need an overnight hospital centers. AmeriPath, with the successful completion of the Inform DX acquisition, operates 41 laboratories and serves 208 hospitals through 402 physicians across 20 states. The statements of James C. New and other statements contained in this press release are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " which are based on current beliefs and expectations. Past performance is not necessarily indicative of future results. In addition, forward-looking statements - which are identified by words such as "may", "should", "believe," "expect," "plan," "anticipate" and similar expressions -- are subject to a number of risks and uncertainties which could cause actual results to differ materially from historical results or those expected or anticipated. These include risks and uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc demand for pathology services, pricing, changes in (and compliance with) federal and state regulation, reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. rates, government and third party payments, the ability to attract, motivate, and retain pathologists and other key personnel, dependence upon pathologists and management of hospital contracts, the development and expansion of managed care and national clinical lab contracts, completion and integration of acquisitions and affiliations (and achievement of planned or expected synergies), competitive factors and technology. Further information regarding risks, uncertainties and other factors that could affect the Company's financial results, or could cause actual results to differ materially from those expected or anticipated, are included in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999 and subsequent filings with the SEC. Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : This release is also available at http://www.ameripath.com |
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