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fiscal year ended June 30 for tax and financial reporting
purposes.
Since its incorporation, petitioner has provided pathology-
related medical services to hospitals and medical professionals
in northeastern Oklahoma. Until 1993, petitioner offered both
anatomic pathology and clinical pathology medical services to its
customers (anatomic business and clinical business,
respectively). Petitioner’s anatomic business included
examination and diagnosis of pathology of human tissue and
provision of consulting diagnostic assistance to physicians in
northeastern Oklahoma. Petitioner’s anatomic business services
were performed by its physician shareholders and/or other
licensed physicians. Petitioner’s clinical business included
performance of laboratory tests on body fluids and tissue samples
obtained from hospitals and medical professionals throughout
northeastern Oklahoma. Petitioner’s clinical business services
were performed by nonphysician employees of petitioner at a
laboratory and three “draw” facilities in Tulsa, Oklahoma.
II. Petitioner’s Decision To Sell Its Clinical Business
Beginning in 1970, and continuing through 1992, petitioner
received several offers from competing clinical pathology
laboratories to purchase its clinical business. These offers
were always rejected by petitioner’s shareholders and management.
In 1993, however, petitioner’s shareholders decided to sell the
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Last modified: May 25, 2011