PRESS RELEASE
Mississauga, Ontario February 27,
1997
Canadian Medical Laboratories Limited
("CML") is pleased to announce an increase in revenues
to $14.7M for the quarter ended December 31, 1996 as compared
to $12.9M in the previous year. Net income was $1.1M as compared
to $1.2M in the previous year. Earnings per share were 10¢
as compared to 11¢ in the previous year.
On November 25, 1996, CML acquired
Excel Bestview Medical Laboratories. Integration of Excel Bestview
Medical Laboratories into CML operations is proceeding as planned.
Significant gains are anticipated in the latter part of the fiscal
year.
CML operates medical laboratories
in Ontario and is developing a Contract Research Organization
to conduct clinical research for the pharmaceutical industry.
For further information, please contact:
Telephone: (905) 624-0440