Media Coverage of Carilion Labs Merger Announcement
The announcement of Carilion Labs’ pending merger with Spectrum generated local and national news media coverage.
from Modern Healthcare…
Carilion laboratory subsidiary merging with Spectrum
By Vince GalloroPosted: January 28, 2010 – 11:00 am ETNot-for-profit Carilion Clinic, Roanoke, Va., said it will merge its clinical laboratory subsidiary with Spectrum Laboratory Network, Greensboro, N.C., creating a laboratory company serving 37 hospitals and 14,000 physicians in eight states and with more than $300 million in annual revenue.The deal requires Federal Trade Commission approval, and the parties hope to conclude it by the end of February, according to Carilion. The hospital system would own 33% of the new company and would appoint three members to its board. Novant Health, Winston-Salem, N.C., is a minority partner in Carilion Laboratory, and under the merger agreement, it would hold a stake in the new company and have the right to appoint one board member.Private-equity firm Welsh, Carson, Anderson & Stowe purchased Spectrum for $230 million in December 2009, according to Apax Partners, the firm that advised Spectrum’s investors on the sale and also when they acquired Spectrum in 2005. Spectrum was founded as a joint venture of High Point (N.C.) Regional Medical Center and Moses Cone Health System, Greensboro.
Merger of Spectrum Laboratory Network and Carilion Labs Creates Big Clinical Laboratory CompanyDARKDaily.com – Laboratory News – ?Jan 28, 2010?It was big news in the clinical laboratory industry yesterday when Spectrum Laboratory Network of Greensboro, North Carolina announced a merger with …Carilion, NC firm to merge their labsRoanoke Times – Sarah Bruyn Jones – ?Jan 27, 2010?Carilion Clinic’s subsidiary for-profit lab business has entered an agreement to merge with a larger North Carolina lab company to form …from WDBJ7…
