NU Online News Service, Jan. 6, 2004, 12:37 p.m. EST – The Health Alliance, Cincinnati, a nonprofit company that controls 6 hospitals and a primary care physician network in the Cincinnati area, has completed previously announced plans to sell Alliance Laboratory Services, its medical testing laboratory unit, to LabOne Inc., Lenexa, Kan., for $38.5 million in cash.[@@]
Health Alliance has agreed to continue buying routine lab services from LabOne, and it will hire LabOne to run 6 alliance-owned “immediate response” hospital labs. LabOne says the lab services contracts should generate about $48.5 million in total revenue.