Carolion Clinic Merging with Spectrum Labs

Carilion Clinic has agreed to merge its for-profit lab business with Spectrum Laboratory Network, a Greensboro, N.C.-based portfolio company of Welsh Carson Anderson & Stowe. The combined company would have around 2,600 employees and more than $300 million in annual revenue. As a precursor, Carilion will spin out diagnostic consulting group Chi Solutions into an independent company.

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