Deal with Providence Health gives PAML access to 78 CHI hospitals in 20 states
Yesterday it was announced that Pathology Associates Medical Laboratories (PAML) of Spokane, Washington, has a new equity partner. In a joint release, Catholic Health Initiatives (CHI) and Providence Health & Services acknowledged a “definitive agreement in which CHI will assume a 25% equity position” in PAML.
This is a significant development in the laboratory testing industry. It provides PAML with easier access to the capital it needs to sustain ongoing growth. The new agreement also positions PAML as a preferred partner to develop laboratory outreach joint ventures with hospitals owned by CHI, which is the second largest catholic-owned health system in the United States.