ELMWOOD PARK, N.J.,
May 13, 2020 /PRNewswire/ --
BioReference Laboratories, Inc., an
OPKO Health company (NASDAQ: OPK), today announced a strategic
collaboration with the Westchester Medical Center Health Network
(WMCHealth), a 1,700-bed healthcare system headquartered in
Valhalla, New York, to provide
full laboratory administrative services, laboratory operations,
reference testing and outpatient laboratory services.
WMCHealth has 10 hospitals on eight campuses spanning 6,200
square miles of the Hudson Valley, including Westchester Medical
Center, Maria Fareri Children's Hospital, Behavioral Health Center,
Bon Secours Community Hospital, Good Samaritan Hospital,
HealthAlliance, Margaretville Hospital, MidHudson Regional Hospital
and St. Anthony Community Hospital. WMCHealth performs over seven
million laboratory tests per year.
Under the agreement, BioReference will provide administrative
services, laboratory equipment, supplies and procurement processes
initially for Westchester Medical Center, in addition to
immediately providing reference testing and outreach for the entire
hospital network. This collaboration allows healthcare providers
and patients of WMCHealth expanded access to analytics tools,
scientific expertise, and patient experience platforms, resulting
in improved patient outcomes.
"At WMCHealth, our commitment is to provide the finest and most
advanced care and services to the communities we serve," said
Michael D. Israel, President and CEO
of WMCHealth. "We are continually looking for partners that
enable us to tailor solutions and match our commitment to deliver
high-quality services to patients. Our agreement with
BioReference enables us to offer a consistent and cohesive level of
care through our laboratories for the patients seen at Westchester
Medical Center and throughout WMCHealth each year."
"Leading health systems are prioritizing their business
operations and are leveraging partners such as BioReference to
support operations, evaluate and execute their laboratory strategy,
allowing them to focus on their patients," said Jon R. Cohen, M.D., Executive Chairman of
BioReference Laboratories. "This collaboration reinforces our model
of delivering industry-leading diagnostic services to partners
across the country."
About BioReference Laboratories, Inc.
BioReference
provides comprehensive testing to physicians, clinics, hospitals,
employers, government units, correctional institutions and medical
groups. The company is in network with the five largest health
plans in the United States,
operates a network of 10 laboratory locations, and is backed by a
medical staff of more than 160 MD, PhD and other professional level
clinicians and scientists. With a leading position in the
areas of genetics, women's health, maternal fetal medicine,
oncology and urology, BioReference and its specialty laboratories,
GenPath and GeneDx, are advancing the course of modern
medicine. For more information, visit
https://www.bioreference.com.
About OPKO Health, Inc.
OPKO is a multinational
biopharmaceutical and diagnostics company that seeks to establish
industry-leading positions in large, rapidly growing markets by
leveraging its discovery, development, and commercialization
expertise and novel and proprietary technologies. For more
information, visit www.opko.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements," as that term is defined under the Private Securities
Litigation Reform Act of 1995 (PSLRA), which statements may be
identified by words such as "expects," "plans," "projects," "will,"
"may," "anticipates," "believes," "should," "intends," "estimates,"
and other words of similar meaning, including statements regarding
the expected benefits of our collaboration with WMC Health, as well
as other non-historical statements about our expectations, beliefs
or intentions regarding our business, technologies and products,
financial condition, strategies or prospects. Many factors could
cause our actual activities or results to differ materially from
the activities and results anticipated in forward-looking
statements. These factors include those described in the OPKO
Health, Inc. Annual Reports on Form 10-K filed and to be filed with
the Securities and Exchange Commission and in its other filings
with the Securities and Exchange Commission. In addition,
forward-looking statements may also be adversely affected by
general market factors, competitive product development, product
availability, federal and state regulations and legislation, the
regulatory process for new products and indications, manufacturing
issues that may arise, patent positions and litigation, among other
factors. The forward-looking statements contained in this press
release speak only as of the date the statements were made, and we
do not undertake any obligation to update forward-looking
statements. We intend that all forward-looking statements be
subject to the safe-harbor provisions of the PSLRA.
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SOURCE BioReference Laboratories, Inc