Latest example of a larger company spinning off its laboratory consulting businesses
For the second time in recent years, a large organization has spun off its clinical laboratory consulting business. As of April 1, 2010, Chi Solutions, Inc., of Ann Arbor, Michigan, once again became an independent company.
Carilion Clinic of Roanoke, Virginia, sold Chi Solutions to Kathleen Murphy, Ph.D., and Earl Buck. It was April, 2005 when Carilion Clinic originally acquired the Laboratory Solutions Group of Park City Solutions and named it Chi Solutions. Murphy and Buck have been the principal consultants at Chi Solutions.
Carilion Clinic and Novant Health will continue to own equity in the new clinical laboratory company
It was big news in the clinical laboratory industry yesterday when Spectrum Laboratory Network of Greensboro, North Carolina announced a merger with Carilion Labs of Roanoke, Virginia. The combined enterprise will have annual revenue of approximately $300 million and immediately becomes one of the nation’s larger clinical laboratory companies.
As announced by the parties involved, Carilion Clinic will hold a 33% ownership interest in the new laboratory company. Novant Health, which holds a minority interest in Spectrum Laboratory Network, will continue as an equity owner and will have a seat on the new board of directors, once the two laboratory organizations are merged into one company.