June 13, 2005

BCEDC to hold its Third Annual Economic
Development Forum Luncheon

The Bergen County Economic Development Corporation (BCEDC) will hold its third annual Economic Development Forum Luncheon on June 16 at the Teaneck Marriott at Glenpointe from 12:00 to 2:00 p.m. This year’s keynote Speaker will be Marc D. Grodman, M.D., the founder, Chairman of the Board, President and Chief Executive Officer of Bio-Reference Laboratories, Inc., the largest independent regional clinical laboratory operating in the Northeast with major market positions in physician offices, nursing homes and clinics.

“The BCEDC is working closely with the county to position Bergen as the nation’s leading center of bio-life science technology. As the CEO of the largest clinical laboratory serving the greater New York area, Dr. Grodman has a unique perspective to share with us as we continue to advance this goal,” said BCEDC Chairman, Joseph M. Sanzari.

Bergen County Freeholder Valerie Vainieri Huttle (left) and Bergen County Economic Development Corporation Chairman Joseph Sanzari join BCEDC President Beth Gorin in welcoming Dr. Marc D. Grodman (right), President and CEO of Bio-Reference Laboratories, Inc. of Elmwood Park, to the Third Annual Economic Development Forum luncheon. The BCEDC is positioning Bergen County as a leader in hosting the development of Bio-Life Science technology. Dr. Grodman, Chairman of the largest independent regional clinical laboratory operating in the Northeast, gave the keynote speech at the BCEDC Economic Development Forum. He shared his vision for the unlimited potential of bio-life science in unlocking doors leading to unparalleled possibilities in healthcare and science. Bergen County officials have welcomed the company's recent expansion at its Elmwood Park office and hope to see the entire industry establish an even stronger presence in the County.

Bio-Reference employs more than 1,200 employees with revenues exceeding $135,000,000. During this past year, BioReference was ranked #6 in the 2004 Fortune Small Business list of 100 of America’s Fastest–Growing Small Public Companies, #16 in the 2004 BusinessWeek list of the 100 Best Small Companies and #26 in the 2004 Forbes Magazine annual list of the top 200 Best Small Companies.

Bio-Reference also maintains specialized focused market offerings that are national in scope. These include GenPath, its cancer and genomics laboratory, and an expanding correctional health program. 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 based on claims data, enrollment data, prescription data and laboratory data. Bio-Reference Laboratories also provides a comprehensive connectivity solution to physicians and laboratories nationwide through CareEvolve, its web based healthcare portal.

“The County of Bergen and the BCEDC have created an atmosphere where bio-life science companies can thrive.” said Dr. Grodman. “Our presence in the region that we serve is constantly growing. Working with the county, we have found better ways to serve our clients and increase our market share. We look forward to another year of sustained growth and opportunity.”

The BCEDC, a 501-c3 not-for-profit public-private partnership with the County of Bergen, provides expertise on a variety of business needs. From startup concerns and real estate options to employee recruitment and educational training, the BCEDC can help both Corporate 500 companies and small business entrepreneurs to address and solve questions or concerns. The BCEDC also offers seminars, workshops and access to information about the application process for state and federal programs and loans.

“In 2002, more than one third of all new medicines approved by the U.S. Food and Drug Administration were developed by New Jersey-based companies. New Jersey is also headquarters to 15 of the 20 largest pharmaceutical companies in the world with over 80,000 life science employees and 22,000 doctoral scientists and engineers leading the way in bio-life science research. Bergen County and the BCEDC want to make sure that our bio-life science corporations continue to lead the industry in discovery and success,” said BCEDC President, Beth R. Gorin.

###