Spokane-based PAML to be sold to LabCorp

Life sciences company LabCorp, headquartered in Burlington, N.C. intends to purchase Spokane-based Pathology Associates Medical Laboratories from its current owners, Providence Health & Services, Renton, WA, and Catholic Health Initiatives, Boulder, CO. The companies confirmed the sale in a news release issued yesterday.

PAML employs 1,600 people, about 500 employed in Spokane where the company is headquartered. Its President & CEO, Francisco Velazquez, MD, SM, is also a member of HSSA's board of directors. The sale is likely to continue through 2017 into 2018.