No plans to stop merger of two large lab testing companies: Matthews
Sep 3, 2013 / 5:37 pm
TORONTO - Ontario Health Minister Deb Matthews says she won't stop a takeover that will see one company controlling more than half of the province's community medical lab centres.
Shareholders of CML Healthcare Inc. (TSX:CLC) approved today a $1.2-billion takeover deal by LifeLabs Inc.
They're two of the biggest private operators of community lab services in the province.
But critics say they're concerned that the deal will create a virtual monopoly that will affect patient care.
A group of smaller community lab companies are urging Matthews to kill the takeover or at least hold public meetings to determine how it will affect patient care.
LifeLabs CEO Sue Paish says the company has no plans to close any patient access centres â€” either the licenced ones or the unlicenced ones where patients can get services directly through their doctor's offices.
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