ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Jan. 27, 2004--Bio-Reference Laboratories, Inc. (BRLI) announced that IMPATH, INC, as a debtor-in-possession, has commenced an adversary proceeding in Bankruptcy Court in the Southern District of New York against James Weisberger M.D., Vice President, Assistant Chief Medical Officer and Director of Hematopathology at Bio-Reference Laboratories, alleging that Dr. Weisberger has, among other things, misappropriated certain of IMPATH's alleged trade secrets and unlawfully solicited former IMPATH employees to commence employment with Bio-Reference. Bio-Reference Laboratories was not named as a party to the suit. Bio-Reference and Dr. Weisberger have stated that the allegations are utterly baseless and totally without merit. The suit will be fully contested in court. Bio-Reference has been committed to building the foremost hematopathology laboratory in the industry for some time and will continue to do so in the future.
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) 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 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.
For: Bio-Reference Laboratories, Inc. Kara Kelly, 201-791-2600 201-791-1941 (fax) firstname.lastname@example.org
Source: Bio-Reference Laboratories, Inc.