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CORNING LAB SERVICES TO ACQUIRE J. S. PATHOLOGY

 CORNING LAB SERVICES TO ACQUIRE J. S. PATHOLOGY
 NEW YORK, June 2 /PRNewswire/ -- Corning Lab Services Inc. (CLSI),


a wholly owned subsidiary of Corning, Inc. (NYSE: GLW), today said it has reached an agreement with the board of directors of J. S. Pathology PLC (JSP) on the terms of a cash offer to acquire 100 percent of JSP's outstanding capital stock for approximately $42 million (23 million pounds sterling). CLSI also has an agreement with Dr. Jean M. Shanks, JSP founder and chairman, to acquire her 52 percent ownership. The transaction is expected to be completed by mid-July.
 JSP, established in 1958, is the largest independent clinical laboratory in England with annual sales of approximately $21 million (12 million pounds).
 Andrew H. Baker, president of CLSI, said, Large independent clinical lab companies are beginning to emerge in Europe since market trends are encouraging for the more cost-effective private labs. We believe this investment in JSP will allow CLSI to capitalize on these trends and will strengthen our position as one of the world's leading laboratory service businesses.
 Shanks said, JSP will benefit significantly from access to CLSI's broad range of products and services, innovative technology, and marketing expertise. JSP's headquarters and primary laboratory are located in a new 54,000-square-foot custom-designed facility, opened in 1991 in Camden Lock, London.
 Corning's presence in laboratory services has been developed over the past decade through a combination of acquisitions and internal growth. The first company Corning acquired in 1982 was MetPath Inc., a leading U.S. clinical testing laboratory. Today, MetPath is one of the largest clinical laboratories in North America, operating a network of regional laboratories with the most advanced analytical equipment.
 In 1990, Corning Incorporated formed Corning Lab Services Inc. as a wholly owned subsidiary. Its businesses operate from more than 40 facilities in nine countries. They include MetPath Inc. (clinical laboratory testing for physicians and hospitals), Hazleton Corporation (biological and chemical testing for pharmaceutical, food, agricultural and chemical companies), G. H. Besselaar Associates (worldwide clinical development and marketing support of new pharmaceuticals), SciCor Inc. (clinical laboratory tests and data management) and Enseco Incorporated (laboratory testing of soil and water for environmental contaminants). In addition, CLSI holds a majority interest in Unilab Corporation, a clinical laboratory testing company, which does business as MetWest in the western United States. For 1991 CLSI's combined revenues were $1 billion.
 -0- 6/2/92
 /CONTACT: Kathryn C. Littleton, 607-974-8206, or (investors) Stephen L. Albertalli, 607-974-8357, both of Corning; or Eric W. Rothbarth of J.S. Pathology, 071-267-2672/
 (GLW) CO: Corning Lab Services Inc.; J.S. Pathology PLC ST: New York IN: HEA SU: TNM


TS -- NY009 -- 6052 06/02/92 08:45 EDT
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Publication:PR Newswire
Date:Jun 2, 1992
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