BORDER Pathology staff will learn whether they have jobs with new owners Dorevitch within coming days.
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The takeover has left more than 50 workers in limbo with Dorevitch planning to take on only 31 employees when the sale has been completed.
Border Pathology will close its doors on Christmas Eve after starting in early 2010.
Chairman Scott Giltrap said full entitlements were being offered to staff, but its demise was a major disappointment for him and 30-plus shareholders.
"We simply couldn't make it viable," he said.
"One of the reasons was we didn't get enough local support for whatever reason.
"Also, Medicare changes when the price of pathology went down rather than up was another contributing factor.
"This decision was made some time ago."
Rental payments on collection centres, particularly in Albury-Wodonga, was also a constant drain on finances.
A condition of the sale to Dorevitch was retaining collection centres in rural areas including Corryong, Yackandandah and Tallangatta.
The contract of sale was already in place before the most recent changes announced by the Federal Government this week about savings of $650 million over four years from removing subsidies for pathology.
![DISAPPOINTED: Border Pathology chairman Scott Giltrap. DISAPPOINTED: Border Pathology chairman Scott Giltrap.](/images/transform/v1/crop/frm/qUHpFEMZzewme4KxrBME26/ff5c6cce-c373-44a2-8927-cc0e89798c62.jpg/r0_0_1648_2466_w1200_h678_fmax.jpg)
"We are actively trying to find work for staff who don't get jobs," Dr Giltrap said.
"It is a huge disappointment for the staff and we are trying to do the best for them.
"It is also a disappointment for the shareholders including myself in particular.
"We just had to make a pragmatic decision.
"But If we just closed the doors the fallout would have been massive."
Dr Giltrap, who informed staff of the sale, said he was starting to become concerned for the business 18 months ago.
"The business has lost money every financial year," he said.
"It has never made a profit and shareholders have supported those losses.
"The shareholders will get a certain amount in the dollar back.
"But it is nowhere near 100 per cent."