BOXBOROUGH, Mass. & RIVIERA BEACH, Fla.--(BUSINESS WIRE)--Jan. 8, 2004--Cytyc Corporation (Nasdaq: CYTC - News) and AmeriPath Inc. today announced a purchase agreement to place Cytyc's ThinPrep® Imaging Systems in AmeriPath's anatomical pathology laboratories. Under the terms of the agreement ThinPrep Imaging Systems will be installed initially in two AmeriPath evaluation centers in Florida and Colorado. In addition, the new agreement extends the AmeriPath contract with Cytyc for the ThinPrep® Pap Test through the end of 2006. AmeriPath has offered the ThinPrep Pap Test since 1998 as an improved technology for cervical cancer screening. AmeriPath and its affiliates currently process more than one million Pap tests annually.
"Our commitment to excellence and accurate diagnostic services demands that we thoroughly evaluate the performance and cost effectiveness of all new technologies," said Joseph A. Sonnier, M.D., AmeriPath's executive vice-president and president. "We have been extremely pleased with the clinical performance of the ThinPrep Pap Test and look forward to realizing the additional benefits of the ThinPrep Imaging System."
"Prior to our affiliation with AmeriPath, our laboratory was one of the sites for the original clinical trial conducted in 1995 for the ThinPrep Pap Test and we have used this technology since then," said Mary E. Corkill, M.D., pathologist, AmeriPath Colorado. "I look forward to employing the ThinPrep Imaging System in our high-volume laboratory."
"AmeriPath has consistently demonstrated its commitment to quality and innovation, allowing this valued customer to become one of the fastest growing providers of laboratory testing in the United States," said Patrick J. Sullivan, Cytyc's chairman, chief executive officer, and president. "I believe that the ThinPrep Imaging System provides the clinical performance and enhanced productivity that will significantly contribute to AmeriPath's quality and growth objectives."
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.
AmeriPath is a leading national provider of cancer diagnostics, genomics, and related information services. The Company's extensive diagnostics infrastructure includes the Center for Advanced Diagnostics (CAD), a division of AmeriPath. CAD provides specialized diagnostic testing and information services including Fluorescence In-Situ Hybridization (FISH), Flow Cytometry, DNA Analysis, Polymerase Chain Reaction (PCRTM, performed pursuant to an agreement with Roche Molecular Systems, Inc.), Molecular Genetics, Cytogenetics and HPV Typing. Additionally, AmeriPath provides clinical trial and research development support to firms involved in developing new cancer and genomic diagnostics and therapeutics.
Cytyc Corporation designs, develops, manufactures, and markets the ThinPrep® System for use in medical diagnostic applications primarily focused on women's health. The ThinPrep System is widely used for cervical cancer screening and is the platform from which the Company has launched its expansion into breast cancer risk assessment with the FirstCyte® Breast Test. The ThinPrep System consists of the ThinPrep® 2000 Processor, ThinPrep® 3000 Processor, ThinPrep® Imaging System, and related reagents, filters, and other supplies. Cytyc is traded on The Nasdaq Stock Market under the symbol CYTC.
Cytyc, ThinPrep, and FirstCyte are registered trademarks of Cytyc Corporation.
For Cytyc Investors:
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 the Company's financial condition, operating results and future economic performance, and management's expectations regarding 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 proprietary technology, uncertainty of product development efforts, product acceptance, management of growth, risks associated with litigation, competition and competitive pricing pressures, risks associated with the FDA regulatory approval processes and any healthcare reimbursement policies, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including under the heading "Certain Factors Which May Affect Future Results" in its 2002 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q filed with the Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in Company 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.
Cytyc Corporation Patrick J. Sullivan, Chairman, President, & CEO Anne Rivers, Investor Relations Jeff Keene, Healthcare Media 978-266-3010 www.cytyc.com or AmeriPath Inc. 800-330-6565
Source: Cytyc Corporation