Bio-Reference Laboratories Announces NY State Prison Renewal.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)--Nov. 7, 2001 BRLI's Contract to Provide Clinical Laboratory Testing Services Under the NY State Unified Prison Contract is Renewed for the Fourth Year 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 its contract with 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 State to provide clinical laboratory services to all State prisons throughout the entire State of New York has been renewed through its MediLabs division for the fourth consecutive year. Bio-Reference is the only clinical laboratory to ever hold the unified New York State contract since it was first awarded to Bio-Reference in 1998. The contract should bring in excess of $7M of business over the next year. Marc D. Grodman, M.D., President, 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 Chairman of the Board of Bio-Reference Laboratories stated: "We are committed to providing services to the correctional health services health services Managed care The benefits covered under a health contract market. We have been aggressively pursuing this market for the past several years and we view this contract renewal by the State of New York as an endorsement of our success in these efforts. We understand the services, the logistics and the idiosyncrasies of this highly specialized market segment. Our correctional services group is able to set up and manage correctional accounts efficiently and productively. We understand the testing needs of the prison population and we provide testing capability that accommodates the special needs of this population. Our relationship with Visible Genetics and our ability to provide HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. resistance testing that is unmatched in the marketplace is an example of our unique and specialized approach to this market segment. Dr. Grodman continued, "We have grown our clinical laboratory business steadily for the past eight years and we expect that growth to continue. We are able to do so because we understand the clinical laboratory business and we provide service and support to meet the needs of our customers. The correctional services market is an ideal example of our growth approach. In the past year, we have acquired contracts to provide such services to several of the largest customers in the country and have expanded into State and county facilities throughout the entire Northeast and Mid-Atlantic regions. This segment of our business will continue to grow. Our overall market share in the clinical laboratory business in our region is growing. We will continue to provide value-added services, such as we provide through our PSIMedica Clinical Knowledge Management division and our CareEvolve connectivity solution which will enhance our opportunities and growth potential." 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 A programmable calculator designed by British scientist Charles Babbage. After his Difference Engine failed its test in 1833, Babbage started the design of the Analytical Engine in 1834. that utilizes all available source information, including claims data, enrollment data, prescription data and laboratory data. The Company provides a comprehensive connectivity solution that includes disease management, laboratory reporting and ordering, as well as claims eligibility and processing, to physicians through CareEvolve, its web-based healthcare portal. This press release contains certain "forward-looking" statements, as defined in 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. 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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