Bio-Reference Laboratories, Inc. Awarded Statewide Pennsylvania Prison Lab Contract.Business Editors ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Sept. 16, 2003 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 American Services Group (ASGR ASGR America Service Group Inc. ASGR Armed Services Graves Registration Office ), Names BRLI BRLI Bio Rad Laboratories Inc to Handle Laboratory Services Under Its Unified Pennsylvania State Prison Contract Bio-Reference Laboratories, Inc. (Nadsaq: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 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 Commonwealth of Pennsylvania. BRLI began providing the statewide services under its Master Agreement with PHS on September 1, 2003. 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 with two-thirds of the facilities, 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 two million dollars per year. 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. and President of Bio-Reference Laboratories, stated: "We place great value on our relationship with PHS and it is extremely gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that they have once again chosen to include us in the Pennsylvania program. We are now working with PHS on various contracts in New York, Pennsylvania, New Jersey and Maryland and we look forward to continuing and extending our relationship in the future. We have made it clear for several years now that we believe that correctional health care services are good clinical laboratory business and we will continue to aggressively promote our services to acquire such business." 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" 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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