Unilab Merges With UC Acquisition Sub Inc.

Unilab Corp. (Tarzana, CA), a provider of clinical laboratory testing in California, has completed its merger with UC Acquisition Sub Inc., an affiliate of Kelso & Co. Under terms of the merger agreement, each outstanding share of Unilab common stock (with the exception of shares held by certain specified holders that will remain outstanding) was converted into the right to receive $5.85 in cash.

Unilab has also accepted for payment the approximately $119.5 million principal amount of its 11% Senior Notes (due 2006) that had been tendered and not withdrawn in Unilab's outstanding tender offer. The purchase price for the notes accepted for payment (exclusive of the $30 consent fee) is $1,082.80 per $1,000 principal amount of notes.

Unilab Corp. is a provider of clinical laboratory testing services in California with primary testing facilities in Los Angeles, San Jose, and Sacramento and over 300 regional service and testing facilities located throughout the state.

For more information, call Melissa Mahoney of Unilab at 818-758-6607, or e-mail IRelations@Unilab.com.

Edited by Jim Pomager