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INSTITUTE FOR LABORATORY MEDICINE SELLS LAB TO REN

 INSTITUTE FOR LABORATORY MEDICINE SELLS LAB TO REN
 MIAMI, Dec. 31 /PRNewswire/ -- Institute for Laboratory Medicine,


Inc. (NASDAQ: LABS) and REN Corporation - USA (NASDAQ: RENL) announced today that they have agreed in principal to the sale of ILM's Florida clinical laboratory to REN for $6 million in cash and the assumption of certain liabilities.
 As of the time of this release, no agreement has been executed and no assurances can be given that such sale will or can be consummated. Any such agreement, if reached, is expected to be executed prior to Jan. 1, 1992, and would give REN immediate ownership of the ILM's Florida laboratory subject to a subsequent favorable vote of 80 percent of ILM's voting stock. Management of ILM controls approximately 65 percent of its outstanding voting stock.
 ILM's management stated that the sale of the Florida laboratory will help the company accomplish its stated goal of becoming a national independent clinical laboratory company. It will provide funds for future acquisitions, some of which are currently in process and remove ILM from any Stark Amendment compliance issues.
 Institute for Laboratory Medicine currently operates a clinical laboratory in Florida. The company is seeking to expand nationally through internal growth and additional acquisitions.
 If the agreement with REN is not executed, then until a sale of its Florida operation is consummated or ILM can comply with Stark Amendments, ILM intends to accept but not bill Medicare for Medicare specimens from its physician/shareholders. As of today, ILM has not been able to satisfy the last criteria (listing its common stock on the American Stock Exchange or NASDAQ National Market System) for an exemption from the so called "Stark Amendments" to the Social Security Act, which among other things, prohibit clinical laboratories from billing Medicare for testing work referred to it by its shareholders. During fiscal 1991, approximately 50 percent of ILM's net revenues were generated from Medicare referrals from its physician/shareholders.
 REN Corporation - USA is the nation's fourth largest provider of kidney dialysis services. Dialysis services are provided principally at the company's 31 free standing outpatient REN Centers located in 10 states. The company also provides outpatient dialysis service to patients in their homes and inpatient dialysis services through contracts with 21 hospitals. In addition, the company performs blood, tissue and urine testing services for its REN Centers, as well as for independent physicians and industry, at its three clinical laboratories.
 -0- 12/31/91
 /CONTACT: Edward Silverman of Silverman, Heller Associates, 212-682-9222, for Institute for Laboratory Medicine/
 (LABS RENL) CO: Institute for Laboratory Medicine Inc.; REN Corporation ST: Florida IN: MTC SU: TNM


JT-CK -- NY029 -- 5910 12/31/91 14:06 EST
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Date:Dec 31, 1991
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