Laboratory services provider Dynacare announced yesterday that it has purchased Keyfacts, a company that collects attending physician statements and other medical reports for insurance applications. The acquisition closed on December 16.

Dynacare says that buying Keyfacts, which was founded in 1922, will allow it to deliver a broader range of services. As for Keyfacts, management says joining Dynacare will make the company more competitive, increase its market share, and allow it to proceed with technology conversion for tele-interview services.

"In the immediate term, the combined organization will operate on a 'business as usual'.

basis," reads a statement published by Dynacare. "That said, we are excited at the prospect of better serving our customers with the highest quality medical information, as well as reducing turnaround time, enabling our customers to make the best decisions for their applicants and their life insurance business in the most expedient fashion possible."

Customers may continue coordinate activities through their usual contacts at Keyfacts and Dynacare. By December of next year, the companies expect that their systems will be integrated and they will be able to provide a single invoice. Until then, the two firms will continue to bill separately. With regard to pricing, the Dynacare says it will honour all contracts in place.