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News (Media Awareness Project) - US: First American Subsidiary To Buy Drug-Testing Firm
Title:US: First American Subsidiary To Buy Drug-Testing Firm
Published On:2001-08-01
Source:Los Angeles Times (CA)
Fetched On:2008-08-31 23:11:34
FIRST AMERICAN SUBSIDIARY TO BUY DRUG-TESTING FIRM

First American Corp. in Santa Ana said Tuesday a subsidiary is buying
Substance Abuse Management Inc., a Milwaukee-based drug-testing
company, to reach more customers in the $2.6-billion
employment-screening market. Terms of the acquisition weren't
disclosed.

First American's subsidiary, HireCheck Inc., agreed to acquire the
Milwaukee company. HireCheck, which is based in St. Petersburg, Fla.,
performs background checks and drug screenings. It has 2,200
employees and field agents.

First American shares fell 15 cents to $17.75 on the New York Stock
Exchange. The company announced the news after the close of U.S.
markets.
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