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Thursday March 6 7:34 AM EDT
Cytyc Corporation Announces Agreement With LabCorp To Offer ThinPrep Pap Test
BOXBOROUGH, Mass., March 6 /PRNewswire/ -- CYTYC Corp announced today a national contract with Laboratory Corporation of America(TM) Holdings (LabCorp(TM)) (NYSE: LH) to make available the Cytyc ThinPrep(R) Pap Test when requested by LabCorp's physician clients. LabCorp is the first national laboratory to offer the ThinPrep Pap Test.
"This agreement with LabCorp represents another milestone for Cytyc. As we increase the availability of the ThinPrep Pap Test throughout the United States we are hopeful that this test will impact patient care and enhance the quality of gynecologic testing," said Patrick J. Sullivan, president and chief executive officer of Cytyc Corporation.
Cytyc Corporation develops, manufactures, and markets the ThinPrep System for medical diagnostic applications. The ThinPrep System consists of the ThinPrep 2000 Processor and related reagents, filters, and other supplies. Currently there are over 400 laboratories in the United States that use the ThinPrep System to aid in the diagnosis of cancers including cervical, lung, bladder, and gastrointestinal and in preparation of fine needle aspiration of the thyroid and breast.
Cytyc(R) and ThinPrep are registered trademarks and ThinPrep Pap Test is a trademark of Cytyc Corporation.
LabCorp is a trademark of Laboratory Corporation of America Holdings.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding management's plans and objectives for future operations, product plans and performance, potential savings to the health care system, management's assessment of market factors, as well as statements regarding the strategy and plans of the Company, constitute forward-looking statements which involve risks and uncertainties, including, without limitation, risks associated with the Company's dependence on a single product, uncertainty of market acceptance and additional cost, dependence on third-party reimbursement, limited marketing and sales experience, and limited number of customers and lengthy sales cycle, as well as risks of downturns in economic conditions generally, and in the health care industry specifically, risks associated with competition and competitive pricing pressures, and other risks detailed in the Company's filings with the Securities and Exchange Commission, and its 1996 Form 10-K to be filed shortly with Commission. Cytyc assumes no obligation to update the information contained in this press release or with respect to the announcements described herein. SOURCE Cytyc Corporation |
