Bio-Reference's CareEvolve Subsidiary Executes Contract With S.E.D. Medical Laboratories.Business Editors ELMWOOD PARK Elmwood Park, village (1990 pop. 23,206), Cook co., NE Ill., a suburb of Chicago; inc. 1914. It is chiefly residential. , N.J.--(BUSINESS WIRE)--Dec. 19, 2002 Company's Web-Based Physician/Laboratory Connectivity Solution Co-Managed and Marketed with Roche Diagnostics Roche Diagnostics Division is a subsidiary of Hoffmann-La Roche which manufactures equipment and reagents for research and medical diagnostic applications. Internally, it is organized into six major business areas: Roche Applied Science, Roche Centralized Diagnostics, Roche Signs First Client Contract Bio-Reference Laboratories, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BRLI BRLI Bio Rad Laboratories Inc ) announced today that CareEvolve, its connectivity subsidiary that is managed under a strategic marketing alliance with Roche Diagnostics of Indianapolis, Ind., has signed an agreement with S.E.D. Medical Laboratories and Ardent Health System, a major provider system located in Albuquerque, N.M. , to provide the CareEvolve suite of products to the S.E.D client base. Among the services that will be available to S.E.D clients through the CareEvolve solution are laboratory order entry and results reporting, patient insurance eligibility and claims processing. Jim Fantus, President of S.E.D. Laboratories, stated: "After several months of researching all the top products offered in this industry, we have chosen CareEvolve to be our solution for facilitating communications with our clients. We believe that CareEvolve's functionality and flexibility, as well as its outstanding reputation in the physician community, will enable our sales team to expand our client base as well as provide additional services to our current clients." Marc D. Grodman, President and Chief Executive Officer of Bio-Reference Laboratories, Inc., commented, "We are extremely pleased that S.E.D Laboratories has chosen to use CareEvolve. This agreement, the first since we entered into a strategic alliance with Roche Diagnostics to manage CareEvolve, validates all the effort and expertise that has been invested in this venture. We believe that our sales team, supported by the full marketing and financial support of the Roche organization, will soon enable CareEvolve to be recognized as the premier physician and laboratory connectivity solution on the market. We look forward to working with Roche to build quality laboratory solutions that will result in superior healthcare quality and efficiency." Richard Aderman, Senior Vice President and General Manager, Roche Diagnostics, noted "Our business relationship with Bio-Reference Laboratories has been evolving for many years, and we remain very enthusiastic about our partnership in CareEvolve. We knew that we could provide the platform necessary to market the CareEvolve solution. At the same time, we continue to offer our customers an outstanding clinical laboratory Internet solution to provide them with healthcare services that enable them to achieve their own goals and objectives. We believe that this endeavor will continue to be mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" for all parties concerned." About S.E.D. S.E.D. Medical Laboratories was founded in Albuquerque, New Mexico “Albuquerque” redirects here. For other uses, see Albuquerque (disambiguation). Albuquerque (pronounced [ˈæl.bə.kɚ.kiː], Spanish: [al.βu. in 1972. S.E.D. is a fully certified and accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. medical laboratory offering services in clinical and anatomic pathology as well as forensic drug testing. S.E.D. has approximately 5,000 clients across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and is the only Federally certified drug testing laboratory in New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). . About CareEvolve CareEvolve, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Bio-Reference Laboratories, Inc., is a Web-based Physician/Laboratory connectivity solution (www.careevolve.com). Launched in the fall of 2000, CareEvolve was designed to enhance physician-patient and physician-payor electronic communications on a secure platform. These transactions include lab results, email, prescriptions, patient claims and eligibility. In January 2002 Bio-Reference entered into a strategic alliance with Roche Diagnostics Corporation in which Roche agreed to provide operating funds as well as provide a team of dedicated professionals to market the product. The company is managed by a joint steering committee consisting of four members from Bio-Reference Laboratories and Roche Diagnostics including Richard Aderman, Senior Vice President and General Manager, Lab Network, Marc Grodman MD, President 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 Bio-Reference Laboratories; and Morton Topfer, BRLI Vice Chairman. The company's Web-site is located at www.careevolve.com. About Bio-Reference Laboratories, Inc. The Company is the largest independent regional clinical laboratory in the Northeast and has major market positions in physician offices, nursing homes and correctional institutions. The Company is a full service clinical laboratory with specialty capability, especially in the areas of genomics, oncology, correctional health, and complimentary medicine. PSIMedica, a business unit of the Company, is a clinical knowledge management (CKM CKM Cabibbo-Kobayashi-Maskawa (quark mixing matrix) CKM Certified Knowledge Manager (trademark of Hudson Associates Consulting, Inc. ) organization offering an array of information solutions for reducing healthcare costs and improving quality performance that are based on a flexible, scalable software analytical engine that utilizes all available source information, including claims data, enrollment data, prescription data and laboratory data. The Company provides a comprehensive connectivity solution to physicians that includes disease management, laboratory reporting and ordering, as well as claims eligibility and processing through CareEvolve, its web-based healthcare portal. About Roche and the Roche Diagnostics Division Headquartered in Basel, Switzerland, Roche is one of the world's leading research-oriented healthcare groups. The company's two core businesses in pharmaceuticals and diagnostics provide innovative products and services that address prevention, diagnosis and treatment of diseases, thus enhancing people's health and quality of life. The two core businesses employ about 57,000 employees worldwide. Roche's Diagnostics Division, the world leader in in vitro diagnostics In vitro diagnostic (IVD) tests are medical tests conducted in a test tube, or more generally in a controlled environment outside a living organism. In vitro means in glass in Latin. with a uniquely broad product portfolio, supplies a wide array of innovative testing products and services to researchers, physicians, patients, hospitals and laboratories worldwide. Roche Diagnostics' North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. headquarters are located in Indianapolis, Ind. For further information, please visit our websites www.roche.com and www.roche-diagnostics.com. Statements included in this release that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements." Statements looking forward in time are included in this release pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to be materially different from any future performance suggested herein. www.bioreference.com |
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