More Consolidation in the Clinical Laboratory Industry, as Quest Diagnostics Agrees to Pay $570 Million to Acquire Solstas Lab Partners

When completed, this acquisition will give Quest Diagnostics a major laboratory presence in the backyard of competitor Laboratory Corporation of America Another big lab domino fell in the continuing consolidation of the clinical laboratory testing industry. This time it was Solstas Lab Partners, which announced that it would be acquired by Quest Diagnostics Incorporated (NYSE:DGX). The agreement was announced by both companies earlier this week. Quest Diagnostics will pay $570 million to...

Cincinnati’s Health Alliance Dissolves, Was a Pioneer in Consolidation of Clinical Pathology Laboratory Testing

Its Laboratory Alliance Lab Outreach Business was Sold in 2003 Back in the mid-1990s, Cincinnati was the location for a multi-hospital clinical laboratory consolidation that was one of the first and biggest of its time. Now, all but one of the original organizing hospitals of The Health Alliance of Greater Cincinnati have gone their separate ways. The original goal was for the alliance to help its not-for-profit health members compete economically. Now this story may turn out to be a...

Merger of Spectrum Laboratory Network and Carilion Labs Creates Big Clinical Laboratory Company

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...

Spectrum Laboratory Network Sells to Welsh Carson for $230 Million

Acquisition is a deal between two private equity firms Spectrum Laboratory Network of Greensboro, North Carolina, will be acquired by Welsh, Carson, Anderson, & Stowe. Investment funds managed by Apax Partners are the sellers and the purchase price is $230 million. It is the highest dollar value acquisition of a clinical laboratory during 2009. The acquisition agreement was announced at the end of last week. It brings Welsh, Carson back into the laboratory testing industry for the first...
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