Printer Friendly

PRINCETON DIAGNOSTIC LABORATORIES OF AMERICA, INC. TERMINATES LETTER OF INTENT

 SOUTH PLAINFIELD, N.J., Aug. 12 /PRNewswire/ -- Princeton Diagnostic Laboratories of America, Inc. (AMEX: PDA) ("PDLA") announced today that it has terminated its non-binding letter of intent with MBf USA, Inc. ("MBf") dated July 13, 1993 regarding the proposed acquisition by MBf of a controlling interest in PDLA and the consolidation of MBf's drug testing subsidiary with PDLA. PDLA's president and chief executive officer, Warren Majek, stated that "PDLA intends to continue to review and evaluate other potential transactions with companies in related industries."
 PDLA processes toxicology samples under Federal Guidelines, for pre- employment and random sampling drug-free workplace programs. These tests are used by major corporations, associations and operating companies, and includes 12 percent of the top 50 industrial companies of the Fortune 500, for diagnostic pre-employment screening. In addition, PDLA provides specialized clinical testing relating to the detection and monitoring of the treatment of psychiatric disorders, drug abuse, and other illnesses for private psychiatric hospitals, psychiatrists and other clinical laboratories.
 -0- 8/12/93
 /CONTACT: Warren N. Majek of Princeton Diagnostic Laboratories of America, Inc., 800-237-7352/
 (PDA)


CO: Princeton Diagnostic Laboratories of America, Inc.; MBf USA, Inc. ST: New Jersey IN: MTC SU:

TM-OS -- NY081 -- 2281 08/12/93 16:47 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 12, 1993
Words:204
Previous Article:DIGITAL DOMAIN AND SOFTIMAGE ENTER INTO STRATEGIC PARTNERSHIP/TECHNOLOGY AGREEMENT; SOFTIMAGE ALSO INTRODUCES MENTAL RAY RENDERING SOFTWARE
Next Article:INTERNATIONAL MUSHROOM SPAWN SUPPLIER BOOSTS ENVIRONMENTAL CLEANUP VENTURE
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters