Nichols Institute, a medical diagnostic testing firm...

Nichols Institute, a medical diagnostic testing firm in San Juan Capistrano, said it has completed the acquisition of the clinical reference laboratory operations of ACL-Palmer, a joint venture of American Clinical Laboratories Inc. and Palmer Laboratory Medical Group Inc.

Nichols Institute said it bought the laboratory operations, located in San Diego County, for $4 million, of which $410,000 was paid in cash and short-term notes and $3.6 million is payable over five years.