NU Online News Service, June 14, 12:47 p.m. – LabOne Inc., Lenexa, Kan., reported today that it is interested in making acquisitions.
The lab services company, which provides testing services and related services for life insurance underwriters as well as health care providers, says it has arranged an agreement that could provide up to $100 million in revolving credit.
LabOne says it will use some of the credit to refinance existing loans and some for general corporate purposes.
But the company also says it “intends to use the leverage capacity made available with the new credit facility to fund future acquisitions.”
J.P. Morgan Securities Inc., a unit of J.P. Morgan Chase & Company, New York, and Wachovia Securities Inc., a unit of Wachovia Corp., Charlotte, N.C., led the effort to set up LabOne’s new revolving credit facility, which resembles a corporate version of a consumer credit card account.