Bio-Reference Laboratories, Inc. Awarded Eastern Pennsylvania Prison Lab Contract.Business Editors and Medical/Health Writers ELMWOOD PARK, N.J.--(BUSINESS WIRE)--April 25, 2001 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 ) 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 Replaces a National Clinical Laboratory with Bio-Reference to Service its Eastern Pennsylvania Prison Healthcare Accounts Company Shows Continued Success with Expansion into Prison Healthcare Systems Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) announced that Prison Health Services health services Managed care The benefits covered under a health contract , Inc. (PHS), a subsidiary of American Services Group, Inc., has awarded Bio-Reference a contract to provide clinical laboratory services for those prisons covered under its Eastern Pennsylvania state prisons This is a list of state prisons in Pennsylvania. It does not include federal prisons or county jails located in the Commonwealth of Pennsylvania.
As announced earlier this year, Bio-Reference Laboratories is currently working with PHS under its sub-contract agreement to provide clinical laboratory services at Rikers Island in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . For the past three years, Bio-Reference has also held the unified statewide contract to provide clinical laboratory services to the New York State Prisons This is a list of state prisons in New York. It does not include federal prisons or county jails located in the state of New York.
Bio-Reference previously announced that it has identified the correctional institutions market as a target business segment that it intends to pursue because the market provides a particularly appropriate platform on which to develop its comprehensive laboratory solution. Marc Grodman, MD, 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. , President and Chairman of the Board of Bio-Reference Laboratories, stated, "We are extremely proud to announce the expansion of our involvement with Prison Health Services, the leading provider in the nation of correctional institute health services. We are grateful to PHS for their support, but we truly believe that we have earned that support through the service, quality and comprehensive clinical laboratory solution that we are able to provide. "We have developed a complex business strategy at Bio-Reference that uses the inherent connectivity of the lab together with in-depth analytics based on our ability to understand and use laboratory results in conjunction with other disparate, multi-threaded data sources to achieve our goal of fulfilling the potential of the clinical laboratory. Correctional healthcare is an ideal platform upon which to validate this strategy. We have announced our intention to seek such opportunities and this contract with PHS is another step in that direction." Mr. Grodman continued, "Our CareEvolve subsidiary provides connectivity and our PSIMedica business unit provides analytics. When we combine these two supporting services to our core laboratory business, we are able to provide a clinical laboratory business model that creates significant barriers to entry for competitors and enables the clinical laboratory to realize the full potential of its inherent assets and resources. Moreover, we believe that we are able to provide this as a scalable, plug and play solution for other clinical laboratories to use in partnership with us. We expect to demonstrate our strategy through the prison healthcare contracts that we are currently seeking on an active basis, as well as the other initiatives that we are currently putting into place." 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's 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. , CareEvolve.com, is a physician-centric health portal that seeks to enhance physician-patient and physician-payer electronic communications on a secure basis, including communicating laboratory results, e-mail, prescriptions, payer verification and eligibility, as well as offering many other value-added Internet based services to its physician members. This press release contains certain "forward-looking" statements, as defined in the United States 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, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the regulatory authorities having jurisdiction. This release and prior releases are available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Web site at www.kcsa.com |
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