Bio-Reference Laboratories Announces Extension of Provider Participation Agreement with United Healthcare to Include Oxford Health Plans Effective January 2007.Bio-Reference continues to be part of new UHC UHC UnitedHealthcare UHC United Health Care UHC University Hospitals of Cleveland UHC United Hitech Corporation UHC Udvar-Hazy Center (National Air and Space Museum) UHC University Health/System Consortium UHC Unburned Hydrocarbons laboratory network offering services to Oxford subscribers 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. -- 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 it has signed an amendment to its existing regional provider participation agreement to provide Clinical Laboratory services to Oxford subscribers under its existing agreement with United Healthcare, the parent of Oxford Health Plans, effective January 1, 2007. Bio-Reference will continue to be part of a regional network of providers within the New York Metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. , including New Jersey, Connecticut, and 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 . Bio-Reference currently has a regional agreement in place for subscribers of United Healthcare and that agreement will remain in full force. Under the terms of the Agreement, both Oxford and United Healthcare customers will be eligible for coverage of all clinical laboratory services provided by Bio-Reference Laboratories and its GenPath business unit. Additional terms of the Contract were not disclosed. Marc Grodman M.D., 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. commented: "This is a great opportunity for Bio-Reference. We are extremely pleased to continue and expand our role with United Healthcare as part of their regional network. The effect of this contract will be to offer more services to UHC and Oxford subscribers and will result in greater choice and opportunity as a result of the changes announced today. Bio-Reference is constantly seeking ways to be on the cutting edge of laboratory services, either through introducing new technologies, expanding its menu of esoteric testing or offering unique and innovative informatics solutions. Patients benefit when laboratories compete on the basis of service and technological innovation. We believe that UHC's inclusion of BioReference into its future laboratory design is confirmation that patient care is first and we are committed to meet the needs of United Healthcare physicians and patients." 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 as well as other laboratories, which includes laboratory reporting and ordering, as well as laboratory to physician communications and cumulative reporting, through CareEvolve, its web-based healthcare portal. About United Healthcare United Healthcare (www.unitedhealthcare.com) provides a full spectrum of consumer-oriented health benefit plans and services, helping more than 25 million individual consumers nationwide achieve improved health and well-being through various health service systems. United Healthcare arranges access to quality, affordable care with more than 500,000 physicians and care professionals and 4,600 hospitals across America. United Healthcare is one of the businesses of UnitedHealth Group (NYSE NYSE See: New York Stock Exchange : UNH Unh The symbol for the element unnilhexium. ), a diversified Fortune 50 health and well-being company. 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. |
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