PathLab Sale Concluded: San Juan Capistrano’s Nichols...
From Times Staff and Wire Reports
PathLab Sale Concluded: San Juan Capistrano’s Nichols Institute, which owns a national chain of medical laboratories, has completed its purchase of PathLab Inc., both companies announced Tuesday. The acquisition enables Nichols to expand in Texas--where it built a laboratory last year as part of a joint venture with three north Texas hospital systems--and New Mexico. The PathLab facilities Nichols assumes control of are in El Paso and San Antonio, and in Las Cruces, N.M. Nichols will pay PathLab shareholders $6.8 million in cash and issue 9.5% subordinated promissory notes totaling $3.85 million. The company will also make future cash payments with a present value of $1.85 million. The company has been on an expansion program since 1986.
