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Unilab Corp

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CALIFORNIA | LOCAL
November 16, 1999
Unilab Corp., Tarzana, reported net income for the third quarter ended Sept. 30 of $17.9 million compared to net income of $3.1 million for the same period last year. Net sales rose to $76.2 million compared to $53.2 million. Unilab has entered into a merger agreement, subject to shareholder approval, with Kelso & Co. through its affiliate UC Acquisitions Sub Inc. Unilab provides laboratory testing services throughout California.
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BUSINESS
February 5, 2003 | From Bloomberg News
Quest Diagnostics Inc. agreed to sell four California medical test contracts to Laboratory Corp. of America in a bid for antitrust clearance for its $813-million acquisition of Tarzana-based Unilab Corp. Teterboro, N.J.-based Quest, the largest operator of U.S. medical testing labs, said it would sell the contracts with four Northern California independent physicians associations that generate $27 million in revenue. Quest said No. 2 medical-lab firm LabCorp, based in Burlington, N.C.
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BUSINESS
November 16, 1993
Unilab Corp., a Tarzana lab-testing company, said it acquired certain assets, including the customer list, of Central Reference Laboratory in Anaheim for about $4.5 million. Privately held Central Reference is an independent regional laboratory with annual revenue of more than $6 million, Unilab said. Unilab added that the price it agreed to pay for Central Reference's assets is subject to adjustment based on the level of retained business.
BUSINESS
December 3, 2002 | From Bloomberg News
Quest Diagnostics Inc. reduced the amount of its planned $1.1-billion purchase of rival Unilab Corp. by about 5% after U.S. officials required the sale of some assets. Unilab is the largest provider of diagnostic testing services in California, and the Federal Trade Commission raised concerns about Quest having too much control of the market in the northern part of the state. Shares of Teterboro, N.J.-based Quest rose $2.07, or 3.7%, to $57.86 on the NYSE.
CALIFORNIA | LOCAL
June 1, 1999 | BLOOMBERG NEWS
Unilab Corp., Tarzana, the biggest clinical laboratory-testing company in California, agreed to be acquired by Kelso & Co. for about $420 million in cash and debt. Kelso, an investment company, will own about 93% of Unilab shares, buying them for $5.85 each in cash. Fierce competition in the California clinical-testing industry during the 1990s forced some companies into bankruptcy.
BUSINESS
August 15, 1995
Unilab Corp., a Tarzana-based provider of clinical laboratory testing services, said it posted a big loss during the second quarter ending June 30. The company reported a loss of $37.5 million, compared to a profit of $2.1 million in the second quarter of 1994. Sales increased 23% to $47.9 million, compared to $39 million during the same period last year. For the six-month period, the company reported a loss of nearly $37 million, compared to a profit of $2.1 million in 1994.
BUSINESS
February 1, 1994
Unilab Corp., a Tarzana-based provider of clinical laboratory testing services, said it completed the previously announced acquisition of Premier Laboratory Services Inc. for $31.5 million in cash and $7.5 million in Unilab common stock. San Jose-based PathLab, the operating unit of Premier, has annual sales of about $22 million, Unilab said. Unilab has facilities in Los Angeles, San Jose and Sacramento, and in Europe.
BUSINESS
December 3, 2002 | From Bloomberg News
Quest Diagnostics Inc. reduced the amount of its planned $1.1-billion purchase of rival Unilab Corp. by about 5% after U.S. officials required the sale of some assets. Unilab is the largest provider of diagnostic testing services in California, and the Federal Trade Commission raised concerns about Quest having too much control of the market in the northern part of the state. Shares of Teterboro, N.J.-based Quest rose $2.07, or 3.7%, to $57.86 on the NYSE.
BUSINESS
April 11, 1995
Unilab Corp., a Tarzana-based provider of lab testing services, said it has agreed to acquire Medical Laboratory Network, a small competing company based in Ventura. Unilab will pay $31 million in cash and $1.5 million in stock for Medical Laboratory Network, which had sales of $25 million last year. It will also issue warrants that will allow Medical Laboratory Network to acquire 200,000 additional shares of Unilab stock for $6 per share.
BUSINESS
May 10, 1994
Unilab Corp., a Tarzana-based clinical laboratory testing company, saw its earnings plunge to $16,000 in the first quarter that ended March 31 from $3.25 million a year earlier. The latest quarter's results included a one-time, pretax restructuring charge of $1.3 million from Unilab's consolidation of its Northern California facilities with those of recently acquired PathLab in San Jose. Unilab, which completed a companywide restructuring in November, had revenue of $35.
BUSINESS
September 21, 2002 | Bloomberg News
HEALTH * Quest Diagnostics Inc. and Unilab Corp. said discussions with U.S. antitrust enforcers to settle concerns their combination would hurt competition may go past the Sept. 30 expiration of their merger agreement. Quest offered to buy Tarzana-based Unilab for $1.1 billion in cash or stock in April, and the Federal Trade Commission has twice requested information on the purchase. The companies said they were in negotiations to extend the merger agreement past the expiration date.
BUSINESS
May 25, 2002 | Reuters
Quest Diagnostics Inc. said its pending acquisition of Tarzana-based Unilab Corp. will be delayed because the Federal Trade Commission has asked for more information on the $900-million deal. Quest, the No. 1 U.S. health testing firm, unveiled the plan to buy Unilab in early April as part of an effort to increase its reach in California, the nation's biggest market for laboratory testing. Teterboro, N.J.
BUSINESS
May 4, 2001
* Unilab Corp., based in Tarzana, said it had filed with the Securities and Exchange Commission for an initial public offering of common stock. Unilab is an independent provider of clinical laboratory testing services, with its main testing facilities in Los Angeles, San Jose and Sacramento and 350 satellite facilities throughout the state. The company said it plans to seek a listing on the New York Stock Exchange under the ticker symbol ULB. Salomon Smith Barney Inc.
CALIFORNIA | LOCAL
February 27, 2001
Unilab Corp. of Tarzana reported net income of $38.9 million for the fourth quarter that ended Dec. 31, contrasted with a loss of $43.9 million for the same period the previous year. Net sales increased 20.5% to $86.4 million from $71.7 million. For the year, the company reported net income of $45.3 million, contrasted with a loss of $14 million. Net sales rose to $337.5 million over $285.2 million.
CALIFORNIA | LOCAL
March 14, 2000
Unilab Corp. in Tarzana reported net income for the fourth quarter ended Dec. 31 of $2 million, up from $1.1 million for the fourth quarter of 1998. Revenue rose to $71.7 million from $55.3 million. For the year ended Dec. 31, the company reported net income of $20.6 million compared with $10.7 million in 1998. Revenue rose to $285.2 million from $217.4 million.
CALIFORNIA | LOCAL
November 30, 1999
Unilab Corp. in Tarzana said that it has merged with UC Acquisition Sub Inc., an affiliate of Kelso & Co. Outstanding shares of Unilab stock were converted into the right to receive $5.85 per share. Unilab provides clinical laboratory testing in California.
BUSINESS
April 6, 1993
Unilab Corp., a Tarzana-based provider of medical testing services, said it plans to sell its non-California offices to one of its major stockholders, Corning Inc., in exchange for a sharp cut in Unilab's debt. Unilab operates labs in Tarzana, Sacramento, San Jose, Denver, Phoenix and Dallas. Under the restructuring plan, Unilab would keep the California outlets, and Corning would get the other offices and assume $70 million of Unilab's $93 million in current debt. Corning, a Corning, N.Y.
BUSINESS
November 21, 1995
Unilab Corp., the Tarzana-based clinical laboratory testing company, saw its profits tumble 89% in its third quarter compared to a year ago, while its sales rose 31%. The company posted a $232,000 profit in the third quarter that ended Sept. 30, compared to a $2.1 million profit in the same period a year earlier. Sales in the latest quarter rose to $50.2 million, up from $38.3 million. For nine months, the company posted a $36.7-million loss, compared to a $4.2-million profit a year ago.
CALIFORNIA | LOCAL
November 16, 1999
Unilab Corp., Tarzana, reported net income for the third quarter ended Sept. 30 of $17.9 million compared to net income of $3.1 million for the same period last year. Net sales rose to $76.2 million compared to $53.2 million. Unilab has entered into a merger agreement, subject to shareholder approval, with Kelso & Co. through its affiliate UC Acquisitions Sub Inc. Unilab provides laboratory testing services throughout California.
CALIFORNIA | LOCAL
June 1, 1999 | BLOOMBERG NEWS
Unilab Corp., Tarzana, the biggest clinical laboratory-testing company in California, agreed to be acquired by Kelso & Co. for about $420 million in cash and debt. Kelso, an investment company, will own about 93% of Unilab shares, buying them for $5.85 each in cash. Fierce competition in the California clinical-testing industry during the 1990s forced some companies into bankruptcy.
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