Spectrum Laboratory Network and Carilion Labs have finalized their merger, creating a new, regional laboratory company serving 37 hospitals and 14,000 physicians in eight states. Spectrum-Carilion becomes one of the 10 largest laboratory companies in the US, offering a full range of service to clients, including comprehensive clinical, anatomic pathology and esoteric testing services.
The merger follows the purchase of Spectrum by Welsh, Carson, Anderson and Stowe, the majority owner of the Spectrum-Carilion. Carilion Clinic owns 33 percent of the new company. Winston-Salem, North Carolina-based Novant Health is also a minority owner.
David Weavil, a 30-year veteran of the laboratory industry will serve as the new company’s CEO. Bud Thompson, former president of Carilion Labs, will serve as executive VP of administration and and hospital relations.
“The merger of these two companies creates exciting opportunities to further advance service and quality for our clients,” says Thompson.
The company is jointly headquartered in Greensboro and Roanoke and will be re-named later this year.