Bio-Reference Laboratories, Inc. Announces Indiana Correctional Healthcare Contract.ELMWOOD PARK, N.J. -- Bio-Reference Laboratories, Inc. (NADSAQ: BRLI BRLI Bio Rad Laboratories Inc ) announced that Prison Health Services health services Managed care The benefits covered under a health contract , Inc. (PHS (Personal Handyphone System) A TDMA-based cellular phone system introduced in Japan in mid-1995. Operating in the 1880-1930 MHz band, PHS uses microcells that cover an area only 100 to 500 meters in diameter, resulting in lower equipment costs but requiring more base ), a subsidiary of America Service Group 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 : ASGR ASGR America Service Group Inc. ASGR Armed Services Graves Registration Office ), has amended its Master Contract for prison health services with Bio-Reference Laboratories to include clinical laboratory services for the entire state prison system of the State of Indiana. PHS has had the contract with Indiana since July 1997 and effective July 19, 2004, will convert the clinical laboratory services contract to Bio-Reference under an existing national services contract. Prior contracts for clinical laboratory services between PHS and BRLI have been in the Middle Atlantic States Middle Atlantic States also Mid-At·lan·tic States The U.S. states of New York, Pennsylvania, New Jersey, and usually Delaware and Maryland. and New England area; this contract represents a geographical expansion of the relationship. BRLI indicated that clinical laboratory services are provided to inmates on both an intake and as-needed fee for service basis and it is difficult to assess the exact value of the contract, but based on previous experience, BRLI expects the annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues under this addendum to exceed $600,000 per year. The Indiana contract encompasses 34 facilities with an average adult and juvenile inmate population of approximately 23,000. Marc D. Grodman M.D., President noted, "ASGR is a valued business partner. We seek to expand our correctional healthcare market well beyond our regional physician office footprint and we believe that our relationship with ASGR and the current contract in Indiana are great platforms upon which to build that expansion. Our focused specialty marketing services are now being deployed throughout the country and we believe that this contract sends a clear signal that we effectively executing our strategy for growth." About PHS PHS currently provides correctional health services to 90 prison and jail clients across 26 states, covering over 244,000 detainees in 325 facilities. 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, which includes disease management, laboratory reporting and ordering, as well as claims and eligibility processing through CareEvolve, its web-based healthcare portal. 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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