Cytyc Announces Multi-Year Contract Extension with LabCorp for ThinPrep(R) Imaging System.MARLBOROUGH, Mass. -- Cytyc Corporation (Nasdaq: CYTC), a leading provider of surgical and diagnostic products targeting women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. and cancer diagnostics, today announced a multi-year contract extension with Laboratory Corporation of America([R]) Holdings (LabCorp([R])) (NYSE NYSE See: New York Stock Exchange : LH) for Cytyc's ThinPrep([R]) Imaging System and the ThinPrep([R]) Pap Test Pap test, Pap smear, or Papanicolaou test (păp'ənē`kəlou), medical procedure used to detect cancer of the uterine cervix. . Over the term of the contract, LabCorp will continue to implement this state-of-the-art cervical cancer Cervical Cancer Definition Cervical cancer is a disease in which the cells of the cervix become abnormal and start to grow uncontrollably, forming tumors. screening system throughout its extensive system of laboratories. LabCorp introduced the ThinPrep Imaging System in October 2004. "As a leading national clinical laboratory, we maintain the highest standards when introducing innovative new technologies, while expanding physician access to the latest scientific and technological advances in laboratory medicine," said Myla Lai-Goldman, M.D., LabCorp's executive vice president, chief scientific officer, and medical director. "We are pleased with physicians' adoption of Cytyc's ThinPrep Imaging System. Currently, a significant percentage of our ThinPrep Pap Test orders include a request for the image guided system. We remain committed to making this important new technology broadly available, which will help us continue to provide the highest quality clinical services possible." "LabCorp has done a tremendous job managing the implementation of the ThinPrep Imaging System throughout its extensive laboratory network," said Patrick J. Sullivan, Cytyc's chairman, president, and chief executive officer. "We take pride in our continuing partnership with LabCorp, a leader in diagnostic testing Diagnostic testing Testing performed to determine if someone is affected with a particular disease. Mentioned in: Von Willebrand Disease well-known for its focus on innovation and clinical excellence." The ThinPrep Imaging System is the first fully integrated, interactive computer system that assists cytotechnologists and pathologists in the primary screening and diagnosis of ThinPrep Pap Test slides. The ThinPrep Imaging System combines revolutionary imaging technology with human interpretive expertise to improve cervical cancer screening efficiency and performance. About LabCorp Laboratory Corporation of America Holdings, a S&P 500 company, is a pioneer in commercializing new diagnostic technologies and the first in its industry to embrace genomic testing. With annual revenues of $3.6 billion in 2006, over 25,000 employees nationwide, and more than 220,000 clients, LabCorp offers clinical assays ranging from routine blood analyses to 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 genomic testing. LabCorp combines its expertise in innovative clinical testing technology with its Centers of Excellence: The Center for Molecular Biology molecular biology, scientific study of the molecular basis of life processes, including cellular respiration, excretion, and reproduction. The term molecular biology was coined in 1938 by Warren Weaver, then director of the natural sciences program at the Rockefeller and Pathology, in Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , NC; National Genetics Institute, Inc., in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , CA; ViroMed Laboratories, Inc., based in Minneapolis, MN; The Center for Esoteric Testing, in Burlington, NC; DIANON Systems, Inc., based in Stratford, CT; US LABS, based in Irvine, CA; and Esoterix, and its Colorado Coagulation coagulation (kōăg'y lā`shən), the collecting into a mass of minute particles of a solid dispersed throughout a liquid (a sol), usually followed by the precipitation or , Endocrine Sciences, and Cytometry Associates
laboratories. LabCorp clients include physicians, government agencies,
managed care organizations, hospitals, clinical labs, and pharmaceutical
companies. To learn more about LabCorp, visit www.LabCorp.com.
About Cytyc Cytyc Corporation is a diversified diagnostic and medical device company that designs, develops, manufactures, and markets innovative and clinically effective diagnostic and surgical products. Cytyc's products cover a range of cancer and women's health applications, including cervical cancer screening, treatment of excessive menstrual bleeding, radiation treatment of early-stage breast cancer, and radiation treatment of patients with malignant brain tumors. Cytyc is traded on The NASDAQ Global Select Market under the symbol CYTC. Cytyc and ThinPrep are registered trademarks of Cytyc Corporation. Forward-looking statements in this press release are made pursuant to the provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Cytyc's future financial condition, operating results and economic performance, and management's expectations regarding key customer relationships, future growth opportunities, product acceptance and business strategy, constitute forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from those statements. Risks and uncertainties include, among others, dependence on key personnel and customers as well as reliance on proprietary technology, uncertainty of product development efforts and timelines, management of growth, product diversification, and organizational change, entry into new market segments domestically, such as pharmaceuticals, and new markets internationally, risks associated with litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , the successful consummation of planned acquisition transactions, the effective integration of acquired businesses and technologies, competition and competitive pricing pressures, risks associated with the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. regulatory approval processes and healthcare reimbursement policies 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. and abroad, introduction of technologies that are disruptive to Cytyc's business and operations, the impact of new accounting requirements and governmental rules and regulations, as well as other risks detailed in Cytyc's filings with the Securities and Exchange Commission, including those under the heading "Risk Factors" in its 2006 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Commission. Cytyc cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Cytyc disclaims any obligation to publicly update or revise any such statements to reflect any change in its expectations or events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. |
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