Nichols Institute Merger: Nichols Institute said it...

Nichols Institute Merger: Nichols Institute said it has completed the previously announced merger of Physicians Medical Laboratories into Medlab Inc., a subsidiary of Nichols. The acquisition involved the payment of $7.9 million, plus issuance of a new class of Physicians’ preferred stock convertible under certain circumstances into 623,814 shares of Nichols’ common stock.

Physicians currently serves doctors in Oregon, Alaska and Washington. Nichols Institute, based in San Juan Capistrano, provides diagnostic testing in a variety of medical fields.