ROCKLEIGH, N.J.--(BUSINESS WIRE)--Spectra Laboratories, Inc., a subsidiary of Fresenius Medical Care AG & Co KGaA, announced today that it has signed a definitive agreement to acquire substantially all of the operating assets of Shiel Medical Laboratory, Inc., located in Brooklyn, New York. The acquisition will expand Spectra’s existing laboratory services capabilities in the metropolitan New York market and allow it to serve a broader base of health care providers and evolving health care delivery models.
Purchase terms were not disclosed. The transaction is expected to close in the 4th quarter, 2013, pending regulatory approval.
About Spectra Laboratories, Inc.
Established in 1982, Spectra Laboratories, Inc. is the leading provider of renal-specific laboratory testing services in the United States. The company’s state-of-the-art analytical equipment, automated specimen processing, and reporting applications provide more than 60 million rapid and reliable test results annually, reaching over 196,000 renal patients and 2,700 free-standing and hospital-based dialysis facilities across the United States. Spectra also supplies laboratory services to the clinical research and correctional healthcare communities through its Spectra Clinical Research and Spectra Diagnostics divisions. Fresenius Medical Care North America is the world’s leading provider of services and products for individuals undergoing dialysis because of chronic kidney failure, a condition that affects more than 2.3 million people worldwide. For more information, visit www.spectra-labs.com.
About Shiel Medical Laboratory, Inc.
Founded in 1919, Shiel Medical Laboratory is one of the oldest continuously operating laboratories in the United States, and the largest privately held clinical laboratory in New York. Their main testing facility is located in the historic Brooklyn Navy Yard, and employs more than 600 people. Shiel has experienced significant growth by rapidly responding to the needs of a changing healthcare system which requires Electronic Health Record data integration and access to an array of new molecular tests. Shiel’s primary service area extends from the greater New York metropolitan area to all lower New York counties and the state of New Jersey. Offering a full array of clinical and anatomic pathology tests, Shiel services the laboratory needs of Private Physicians, Group Practices, Union and Industrial Accounts, Long-Term Care and Home Care Agencies and Drug Rehabilitation Centers. For more information, visit www.shiel.com.