Letter to PAML clients from President and CEO
Francisco R. Velazquez, M.D., S.M.

Dear Valued Client:

I am writing to inform you of an important announcement.

Laboratory Corporation of America (LabCorp) is purchasing Pathology Associates Medical Laboratories (PAML) and PAML's interest in several joint ventures. LabCorp will assume sole ownership once the transaction is complete.

PAML is headquartered in Spokane, Washington, and is a health care solutions company with a focus on diagnostics. PAML, a national reference laboratory, has successfully provided services to many communities for decades providing high quality laboratory services to our patients and clients.

By combining PAML's 60-year history of outstanding service with LabCorp's comprehensive expertise, resources and mission to improve health and lives through the delivery of world class diagnostics, the owners are confident about the opportunities LabCorp will bring to their communities and the continued delivery of high-quality services for patients, hospitals, clients and clinicians.

The transaction is not yet complete. Until the transaction is complete there will be no changes to operations or services. Patient Service Centers, Couriers, Client Services, Testing and other customer-focused services will operate normally. Any future changes will be thoughtfully planned and implemented.

Our customers and patients remain our highest priority. We will work together with LabCorp to plan a smooth, thoughtful transition and to ensure no interruption in the high-quality service expected of us. We are proud PAML's long history of providing outstanding service, and we are committed to doing the same during this transition. LabCorp is committed to continuing our level of quality and service.

Patient Service Centers and other patient-directed services will operate normally until the transaction is complete. When the transaction is complete, you will also have access to LabCorp's expanded test menu and network of over 1,700 Patient Services Centers located across the country.

Details of the transaction are still being determined. While we don't have many specifics yet, we wanted you to be among the first to know about this change. Throughout this process, we are committed to providing updates as more information becomes available. Below, please find initial information. We encourage you to reach out to us with any questions or concerns.

Sincerely, 

Francisco R. Velazquez, M.D., S.M.
PAML President and CEO

 

Questions and Answers

What was announced?

Laboratory Corporation of America (LabCorp) is purchasing Pathology Associates Medical Laboratories (PAML) and PAML's interest in several joint ventures. LabCorp will assume sole ownership once the transaction is complete.

What joint ventures are affected?

PAML and its joint ventures provide laboratory services in California, Colorado, Idaho, Kentucky, Montana, Oregon, Utah and Washington.

This transaction includes PAML and several PAML-affiliated joint ventures.

How will this affect service?

Customers and patients remain our highest priority. We will maintain the high quality of service patients and clients are accustomed to receiving from us.

PAML and LabCorp will work together to plan a smooth, thoughtful transition and to ensure our customers and their patients experience no interruption in the high-quality service expected of us.

The transaction is subject to regulatory review and during this time, there will be no changes to operations, services, or locations and hours at Patient Service Centers.

We are proud of PAML's long history of providing outstanding service, and are committed to doing the same during this transition. LabCorp is committed to continuing our level of quality and service.

When will the change to LabCorp take place?

The transaction is subject to regulatory review and approval, in addition to customary closing conditions for a transaction of this type.

Once all closing conditions have been satisfied, transaction closings will occur on a rolling basis, which we anticipate will begin in 2017 and continue into 2018.

We are working on a plan for a thoughtful, smooth transition that will begin after the transaction is complete.

Who is LabCorp?

LabCorp is a world-leading life sciences company that provides comprehensive clinical laboratory and end-toend drug development services with a mission to improve health and lives.

LabCorp has more than 50,000 employees around the globe working to deliver world class diagnostics, bring innovative medicines to patients faster and uses technology to improve care.

LabCorp is a publicly-traded company, with headquarters in North Carolina. It has clinical laboratory operations across the U.S. and in Canada. Its drug development business, Covance, works with leading biopharmaceutical companies to help bring new medicines to the market, including conducting clinical trials with hospitals and physicians around the world.

LabCorp intends to maintain a strong presence in the communities served by PAML and its joint ventures.

LabCorp has extensive, long-term relationships with hospitals and health systems across the country, includingSwedish Medical Center, a partner within the Providence system.

Where can I find more information?

You can expect regular updates from PAML and LabCorp. We will work together to ensure your questions or concerns are addressed.