Roanoke, Va.-based Carilion Labs has announced that it will merge with another major MidAtlantic lab, Greensboro, N.C.-based Spectrum Laboratory Network. The new lab company will offer comprehensive anatomic pathology and esoteric testing services to 37 hospitals and 14,000 physicians in eight states, with more than 2,600 employees and annual revenues above $300 million. The company will be jointly headquartered in Roanoke and Greensboro.

In November of last year, Spectrum was sold by the New York City-based private equity firm Apax Partners to another New York firm, Welsh, Carson, Anderson, & Stowe, for a reported $230 million. The new company’s new CEO will be David Weavil, the former CEO of Specialty Laboratories (Valencia, Calif.), which is now owned by Quest Diagnostics (Madison, N.J.). The board of the new company will be made up of three Carilion representatives: President and CEO, Edward G. Murphy, M.D., and two other appointees who have not been yet named. Another seat will be held by a representative from Novant Health, a minority owner in Carilion Labs.

Pending regulatory approval, the merger is expected to be finalized by the end of February.