11:40 1/5/00 CBSM [CYTC] PRUDENTIAL LOWERS CYTYC TO 'HOLD' FROM 'ACCUMULATE; RATING
It has run up quite a bit. Now just waiting for earnings. Odd timing for downgrade. Wonder if Prudential is trying to accumulate.
Jack
American Medical Laboratories, Inc.(R), Expands Implemention of Cytyc's Thinprep(R) Pap Test(TM)
PR Newswire - January 05, 2000 12:01
BOXBOROUGH, Mass., Jan. 5 /PRNewswire/ -- Cytyc Corporation (Nasdaq: CYTC) today announced that American Medical Laboratories, Inc., (AML) has signed a new contract that will provide for expanded capacity and accelerated conversion to the ThinPrep(R) Pap Test(TM), in order to meet increasing demand. AML introduced the ThinPrep Pap Test in 1997 as its primary enhanced cervical screening technology and the test is currently the only replacement for the conventional Pap smear offered by AML. AML continues to process conventional Pap smears as well.
"As an early adopter of the ThinPrep Pap Test, we have had an opportunity to evaluate and confirm the benefits of this technology," said Dr. Nathan Sherman, AML medical director. "As the scientific literature continues to validate the improved efficacy of this technology, we have noted a significant increase in physician demand for this product."
AML is a rapidly growing, national reference laboratory that is a leader in developing integrated clinical laboratory solutions for hospital networks, managed care organizations, and regional laboratories. AML currently processes approximately 400,000 Pap tests annually.
"AML has a well deserved reputation for quality laboratory service and a wealth of professional expertise," said Patrick J. Sullivan, Cytyc's president and chief executive officer. "We are very pleased that their commitment to the ThinPrep Pap Test is providing clinical benefits to an expanding market of clinicians and patients."
Privately-held American Medical Laboratories is a licensed, pathologist-directed, full service and esoteric reference laboratory. AML provides a broad range of specialized services in diverse disciplines as well as a full menu of routine tests. AML was founded in 1959 and is one of the largest private esoteric testing laboratories in the United States. |
