Bio-Reference Laboratories Receives Riker's Island - NY - Lab Contract; Extends New York State Prison's Contract; Contracts Valued at Approximately $9 Million Annually.Business Editors & Health/Medical Writers BIOWIRE2K NEW YORK--(BW HealthWire)--Feb. 7, 2001 Bio-Reference Laboratories, Inc. (Nasdaq Sm-Cap: BRLI BRLI Bio Rad Laboratories Inc ) ("BRLI") announced today that it has been awarded laboratory contracts valued at approximately $9 million annually servicing two 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 correctional systems, representing two of the four largest prison health laboratory contracts in the United States. The Company received a contract to provide services to New York City's Riker's Island, and an extension of its contract for 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.
The Riker's Island contract for overall healthcare services was awarded to 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 , one of the nation's largest private correctional healthcare service businesses. PHS, in turn, has sub-contracted with Bio-Reference to provide the laboratory services component of the contract. Bio-Reference currently has several other local contracts for lab services at county jail systems in the region. Through its MediLabs division, Bio-Reference has also received renewal of the New York State Prisons contract. This renewal represents the third year the contract has been awarded to MediLabs. MediLabs has been providing lab services to correctional institutions since 1991, including individual prisons in the New York State system, prior to New York's going to the first unified state contract awarded to MediLabs in 1998. Marc Grodman, M.D., Chairman and 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. of Bio-Reference, stated, "Correctional institutions provide an excellent microcosmic platform upon which to develop the comprehensive solutions we are seeking to develop for our laboratory business through the utilization of our inherent connectivity and clinical expertise to provide analytics. Our Company has made significant advances in earning market share in the correctional laboratory segment. With extensive 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. and Hepatitis C Hepatitis C Definition Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild. testing, this market supports increased esoteric testing and our clinical capabilities." Dr. Grodman added, "We have introduced CareEvolve.com, our connectivity solution, and we are working with industry experts to create analytics geared to the correctional institutions through our PSIMedica division. Healthcare requires more than just granular data to be effective. We believe that the true function of the laboratory is to provide value-added information to enable healthcare providers to enhance their service level and the quality of care." Dr. Grodman continued, "We believe that there is tremendous value in the correctional institutions lab business. We have identified that market as a target business segment that we are extremely well-positioned to develop. As a regional laboratory with sub-specialty capability, we have the flexibility and scalability to provide full, value-added service to a national vertical market. We have identified correctional institutions as an ideal vertical market for our clinical laboratory, connectivity and analytical services." About Bio-Reference Laboratories, Inc.: Bio-Reference is a multi-faceted Health Services health services Managed care The benefits covered under a health contract and Information Company as well as the largest regional clinical laboratory in the North East United States. It has major market positions in physician offices, nursing homes and correctional institutions. Its toxicology division performs employee drug testing for major corporations nationwide, as well as for drug treatment centers and psychiatric hospitals. CareEvolve.com, a 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. of BRLI, is a Physician based health portal that seeks to enhance physician-patient and physician-payer electronic communications on a secured basis, including communicating laboratory results, e-mail, prescriptions, payer verification and eligibility, as well as offering other Internet based services to its physician members. These services will be provided through an Internet connectivity backbone. The Company's common stock is traded on the Nasdaq Small Cap system under the symbol "BRLI." For additional information about BRLI, please visit www.bioreference.com as well as www.careevolve.com. 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 Annual Report 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. 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 Worldwide Web site at www.kcsa.com. |
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