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CORNING LAB SERVICES TO ACQUIRE U.S. CLINICAL-LABORATORY BUSINESS OF MDS

CORNING LAB SERVICES TO ACQUIRE U.S. CLINICAL-LABORATORY BUSINESS OF MDS
 CORNING, N.Y., Jan. 13 /PRNewswire/ -- Corning Incorporated (NYSE: GLW) and Corning Lab Services Inc. today announced their wholly owned subsidiary, MetPath Inc., has signed a definitive agreement to acquire the U.S. clinical-laboratory assets and business of MDS, a publicly held Canadian company. The purchase price is US$50 million in addition to certain other assets.
 The MDS units to be acquired include operations in Buffalo, N.Y., and clinical-testing laboratory operations in upstate New York and western Pennsylvania.
 "This acquisition will complement and expand MetPath's presence in the northeast, primarily the Buffalo-to-Pittsburgh corridor," said Andrew H. Baker, president and chief operating officer, Corning Lab Services. "The addition of MDS will also accentuate MetPath's position as one of the nations leading providers of clinical laboratory services."
 John Rogers, president, MDS, said, "I am pleased that our dedicated employees will be joining MetPath, a company with an outstanding reputation in the clinical-laboratory industry. The presence of MDS in upstate New York and western Pennsylvania will complement MetPath's operations and enhance the quality and service to all clients and their patients in this important area."
 Corning Lab Services Inc., formed in 1990, is a wholly owned subsidiary of Corning Incorporated. Its businesses 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 for patients in clinical trials on new drug compounds) and Enseco Incorporated (laboratory testing of soil and water for environmental contaminants).
 -0- 1/13/92
 /CONTACT: K.C. Littleton, 607-974-8206, or Stephen L. Albertalli (investors), 607-974-8357, both for Corning/
 (GLW) CO: Corning Incorporated; MetPath Inc.; MDS ST: New York IN: HEA SU: TNM


CK -- NY078 -- 9225 01/13/92 16:36 EST
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Publication:PR Newswire
Date:Jan 13, 1992
Words:318
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