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ALLIED CLINICAL LABS ANNOUNCES ACQUISITION OF SIERRA NEVADA LABS

 NASHVILLE, Tenn., May 3 /PRNewswire/ -- Allied Clinical Laboratories, Inc. (NASDAQ-NMS: ACLB) announced that it has completed its acquisition of Sierra Nevada Laboratories, Inc., headquartered in Reno, Nev.
 In earlier communications Allied had disclosed that it had previously reached an agreement in principle to acquire Sierra Nevada.
 Allied paid approximately $14 million cash at closing and could pay up to an additional $5.5 million over three years, depending upon certain operating performance measures. The company expects that the purchased annual on-going net revenue stream from Sierra Nevada Laboratories will be approximately $22 million.
 Sierra Nevada Labs serves the Reno, northern Nevada and northern California markets and its Reno facility becomes Allied's 11th regional laboratory and the hub of its seventh operating region.
 Allied provides testing services to physicians, clinics and other health care providers through a national network of 11 regional laboratories, one of which serves as a reference laboratory and one of which serves as an anatomical testing laboratory. The company supports its regional laboratories through over 200 other service sites. Through its Contract Management Services Division, the company has contracted with approximately 60 hospitals and three multi-specialty networks to provide a variety of management services for their on-site laboratories, including both clinical and anatomical testing as well as pathology consultation and laboratory direction.
 The company's common shares are traded in the over the counter National Market System under the NASDAQ symbol ACLB.
 -0- 5/3/93
 /CONTACT: Haywood D. Cochrane Jr., president and chief executive officer, or Gerard M. Hayden Jr., senior vice president and chief financial officer, of Allied Clinical Labs, 615-320-2283/
 (ACLB)


CO: Allied Clinical Labs, Inc.; Sierra Nevada Laboratories, Inc. ST: Tennessee, Nevada IN: HEA SU: TNM

RA-BN -- AT026 -- 3968 05/03/93 16:31 EDT
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Publication:PR Newswire
Date:May 3, 1993
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