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PHYSICIANS CLINICAL LABORATORY ANNOUNCES TWO SAN JOAQUIN VALLEY ACQUISITIONS FOR $6.8 MILLION

 SACRAMENTO, Calif., March 2 /PRNewswire/ -- Physicians Clinical Laboratory Inc. (NASDAQ: PCLI) today announced that it is acquiring two central California clinical laboratory companies for approximately $6.8 million in cash and notes, continuing a strategy to build operations statewide.
 Under the terms of the agreements, both of which are scheduled to close March 15, Physicians Clinical Laboratory will purchase the assets, including all equipment and customer lists, of the Fresno Medical Science Institute and the Sierra Meadows Medical Laboratory located in Oakhurst. Aggregate annual revenue of the two concerns is about $6.6 million, and the ultimate sales price paid by Physicians Clinical Laboratory is based on future financial performance, according to Nathan L. Headley, the company's president and chief executive officer.
 The purchase of Medical Science Institute, in particular, stands to strengthen Physicians Clinical Laboratory's burgeoning presence in the San Joaquin Valley region, according to Headley. In addition to a main laboratory in Fresno, Medical Science Institute operates three STAT labs -- located in Modesto, Merced and Bakersfield, Calif. -- and 11 patient service centers spread across central California.
 "In addition to maintaining a strong rate of internal corporate growth, the San Joaquin Valley is central to our strategy of building the company through the acquisition of established local clinical laboratories," said Headley. "Our ability to service physicians and their patients is extensive -- and growing markedly -- throughout the region. It is an area of dynamic progress, and we intend to be part of it."
 This latest pair of transactions by Physicians Clinical Laboratory, the company's third and fourth respectively of 1993, directly complements its acquisition last month of Bakersfield-based San Joaquin Diagnostics. During the past two years, the company has completed 11 transactions in its transformation from a local to nearly statewide purveyor of laboratory services.
 Sacramento-based Physicians Clinical Laboratory, which provides reference-laboratory services to clinicians and serves the acute-care needs of hospitals, completed its initial public offering of common stock in October 1992.
 -0- 3/2/93
 /CONTACT: Peter J. Raffetto, senior vice president, Finance, of Physicians Clinical Laboratory, 916-444-3500/
 (PCLI)


CO: Physicians Clinical Laboratory ST: California IN: HEA SU: TNM

TM-TB -- SF004 -- 1961 03/02/93 12:39 EST
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Date:Mar 2, 1993
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