UNILAB CORPORATION ACQUIRES ASSETS OF CENTRAL REFERENCE LAB OF ANAHEIM, CALIF.
TARZANA, Calif., Nov. 15 /PRNewswire/ -- UNILAB Corporation (NASDAQ-NMS: ULAB) disclosed in its Third Quarter Form 1OQ filed today with the SEC that it has acquired certain assets, including the customer list, of Central Reference Laboratory ("CRL"), Anaheim, Calif., one of the leading regional independent laboratories in Orange County, with annual revenues over $6 million. The purchase price for privately-held CRL is $4.5 million, subject to adjustment up or down based upon the level of retained business. The purchase price is payable in three annual installments in cash or Unilab common stock, at the Company's choice. The first payment was made in Unilab common stock. The business of CRL was integrated into Unilab's Tarzana (Los Angeles) operations on November 1, the effective date of the transaction. CRL's Anaheim facility is expected to stay in place as Unilab's local stat testing facility and operations hub for Orange County. Unilab's existing Anaheim stat lab has moved to the CRL facility. Unilab Corporation supplies clinical laboratory testing services in California through its wholly-owned facilities in Los Angeles, San Jose and Sacramento, and in Europe through its 40 percent ownership in Unilabs Group Limited, a European-based company with clinical laboratory operations in Switzerland and the United Kingdom. -0- 11/15/93 /CONTACT: Richard A. Michaelson of Unilab Corporation, (today) 818-757-0601 or 201-525-1000/ (ULAB)
CO: Unilab Corporation ST: California IN: MTC SU: TNM
WB-JG -- NY069 -- 4471 11/15/93 13:20 EST
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|Date:||Nov 15, 1993|
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